yilityökorvaus

Yilityökorvaus, which translates to "overtime pay" or "work exceeding normal working hours compensation" in English, refers to the additional remuneration an employee receives for working beyond their standard contractual hours. In Finland, the specifics of yilityökorvaus are largely governed by the Act on Cooperation within Undertakings and the relevant collective bargaining agreements.

Typically, overtime work must be agreed upon in advance, either individually with the employee or as stipulated in a collective agreement. There are usually limits on the amount of overtime that can be worked within a given period, both daily and weekly, to protect employee well-being. The compensation for overtime is generally higher than the regular hourly wage. For example, working on weekdays beyond the normal working day often results in a higher hourly rate, and working on Sundays or public holidays can command even greater supplementary pay.

The exact calculation of yilityökorvaus can vary depending on the industry, the specific collective agreement in force, and the employee's individual contract. It often involves a percentage increase on the regular wage. Employers are legally obligated to keep accurate records of all overtime hours worked and the corresponding compensation paid. Failure to comply with these regulations can lead to legal consequences. In essence, yilityökorvaus serves as a mechanism to fairly compensate employees for extra effort and to discourage excessive working hours.