How is overtime handled in Spain?

In Spain, the approach to overtime is carefully regulated to ensure employees are fairly compensated and maintain a healthy work-life balance. Here are the key points about handling overtime:

Overtime in Spain is voluntary, and employees must be compensated for it either with additional pay or compensated time off. This compensation should align with what's outlined in the relevant collective agreement but cannot be less than the rate for an ordinary working hour.
There's a cap on payable overtime, set at eighty hours per year. This limit does not include time compensated with rest within the following four months.
Companies are required to maintain detailed records of all working hours, including overtime, to ensure compliance with labor laws and facilitate inspections by the Labour and Social Security Inspectorate. This record-keeping applies to both full-time and part-time contracts.
There isn't a mandatory legal system for the control of working hours and overtime, but companies are advised to implement a system that suits their operational needs without imposing administrative burdens.

Additionally, Spain's labor laws emphasize a balance between work and personal life:

The standard workweek is capped at 40 hours, calculated on an annual basis, to ensure flexibility.
Employers must provide a minimum weekly rest period of one and a half uninterrupted days, typically including Saturday afternoon or Monday morning, and all day Sunday.
If an employer requires an employee to work more than nine hours in a day, this must be agreed upon by both parties. However, total overtime cannot exceed 80 hours per year, excluding overtime for urgent or extraordinary circumstances, which should be compensated with additional rest or pay.

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How is overtime handled in Spain?