What is the law on payment of overtime after 40hours per week?

Answer:
It will depend on the state in which you reside and also whether you are an exempt or non-exempt employee. The link below will give you info on Federal law.

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One and one half times your standard pay rate for all hours worked over 8 in a day and or 40 hours worked in a work week.

Its mandatory in most types of employment instances.
You can sue and probably prevail.

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Here's the official UK (as opposed to US) word on it :http://www.direct.gov.uk/en/employment/e...

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yes will depend where you are

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There is no law on payment of overtime in the UK. It depends on your employer. Many people work more than 40 hours a week (including me) for no extra pay.

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In the UK it is entirely down to your terms of employment.

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No law - depends what your contract of employment states. It must state what your basic hours are and how many a week, and if overtime is payable at what rate .

Check your contract first.