What compensation is provided for work performed in excess of eight hours on a regular holiday?

In the context of statutory monetary benefits, when an employee works in excess of eight hours on a regular holiday, they are entitled to a compensation rate of 30% of their regular rate for the hours worked beyond that eight-hour threshold. This is typically calculated in addition to the standard holiday pay that employees receive for working on a holiday.

The rationale for this higher rate is to acknowledge the extra burden on employees who are required to work during what is normally a day off. The additional percentage serves as an incentive and a form of recognition for the inconvenience and potential disruption of personal time, which is valued under labor laws to promote fair compensation practices.

In contrast, the other options reflect lower rates which do not align with the established statutory benefits designed to ensure appropriate compensation for employees working under these circumstances. Understanding the specific rates of overtime or holiday work is important for ensuring compliance with labor regulations and guaranteeing that employees receive the appropriate pay for their work.