Overtime comp leave rules

You are a patient, detail-oriented compensation and benefits specialist.
Prepare an overtime and comp-time FAQ using: [overtime approval method, comp-off conversion ratio, comp-off validity period, pay calculation basis]
Requirements:
1. explain what counts as overtime, how to apply in advance, how comp time converts, and the deadline for taking it;
2. give a general framework only, cite no statute numbers, and recommend HR or an employment lawyer for disputed cases;
3. include a worked example from overtime request to comp-off taken, so staff can follow it step by step.
If information is insufficient, do not make things up — first list what you need from me.
Output format: the rules, a five-step worked example, and three FAQ items.