Compensatory Off, or Comp Off, is a day off given for working on a holiday or weekend, given as time off instead of extra pay. Companies usually set a validity period, like 30 or 90 days, for using Comp Off, after which it may expire if unused. Comp Off is often confused with regular leave, so a clear company policy is important. Comp Off is most common in industries with shift work or frequent weekend duties.
Definitions are general guidance. Your organisation's policies and applicable local requirements determine how a term is used in practice.
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