This is exactly how it is in Poland, by law.
150% salary for weekdays+saturdays overtime (200% if at night) and 200% sundays and bank holidays. ~400 overtime hours a year hard limit.
150% salary for weekdays+saturdays overtime (200% if at night) and 200% sundays and bank holidays. ~400 overtime hours a year hard limit.
I worked in both types, usually contractors are treated as second class citizens, e.g. some perks don't apply to them.
I have yet to see a company where contractors are majority.