Can Companies Set a Uniform Overtime Rate for All Employees, Ignoring Wage Differences?

Can there be a fixed overtime rate per hour for payment of overtime? For example, a fixed OT amount of say Rs. 60/- per hour (OT doubled is Rs. 120/-) for all the employees doing OT, regardless of their respective wage rates. Can an organization adopt this as a company policy?

OT should be paid at double the rate of the individual gross salary. Gross salary cannot be uniform for all employees.

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