True or False: Employees and employers can stipulate in their collective agreement the payment for overtime work at rates higher than those provided by law.

The statement is false because while collective agreements can include provisions for overtime work, they cannot stipulate payments that are lower than the minimum amounts mandated by law. However, they can indeed provide for rates that are higher than those set by legal requirements. The laws typically outline a minimum standard for overtime compensation, which is designed to protect employees and ensure fair compensation practices.

In a collective agreement context, both employees and employers have the ability to negotiate terms that may exceed the legal minimums, making the assertion that such agreements are strictly bound by law inaccurate. Thus, the correct understanding is that collective agreements can establish higher rates for overtime than those dictated by law, but they cannot lower them below statutory requirements. This nuance is crucial for understanding the dynamics of labor contracts and statutory benefits.