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Overtime - take time off

Good day


Please advise on the following:

Our company is in the hospitality sector.

As the staff work long hours, they are compensated for this. So they work 6 weeks, then qualify for 2 weeks time off.  

However, we have an employee who wasn't able to take 2 weeks time off, as it was too busy, so he opted to be paid this out.

Do we pay this out at the 1.5 overtime rate or only the 0.5 overtime rate?  Reason for this query...he already earns his salary irrespective of taking the time off, so should we then only pay him the .05 of the rate?

Please advise.

Thank you.


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