How To Calculate Overtime Formula. =(f6*h6)+(g6*h6*1.5) to breakdown the formula, (f5*h5) calculates the pay for the regular hours and (g5*h5*1.5) calculates the pay for working overtime. Overtime is calculated as follows:
[download link] computing overtime pay on normal days. You can simply add together the total piece rate earned by the employee during the week, divide by the number of hours worked to determine that week’s regular rate, and then multiply that regular rate by 1.5 to determine the overtime rate for that week. $500 + $150 = $650 (total) key takeaways.
Overtime is calculated as follows:
The legal formula is 44 hours per week. $500 / 50 hours = $10 (regular rate) $10 x 1.5 (overtime rate) x 10 hours (overtime) = $150. Their overtime hours are calculated as follows:
Now copy the formula to the other cells to get the wage per day for other employees.
Payments of ot under departmental rules (dot) in the case of day labourers, overtime is paid at the basic rate of payment + death benefits + municipal compensatory compensation + personal salary + special salary + pension With piece rate compensation, you can calculate overtime in two ways. This tutorial will demonstrate how to calculate overtime pay in excel & google sheets.
For instance, let’s say they make $800 a week and work 40 hours per week.
=(f6*h6)+(g6*h6*1.5) to breakdown the formula, (f5*h5) calculates the pay for the regular hours and (g5*h5*1.5) calculates the pay for working overtime. Use this free downloadable template for a quick and more organised overtime calculation. This is the formula i have used in the cell i16 to calculate the over time hours:
You can calculate the overtime percentage for both individual employees and the overtime percentage for your entire organization using the formula:
(12 x monthly basic salary) / (52 weeks x working hours in a week) dan. Free downloadable overtime calculator sheet. Overtime calculation per day salary basic salary = (pertaining to the no of days in a month) = basic/31 = salary per day per day basic / 8 = per hour salary overtime = 1.25*per hour salary*no.of overtime hours worked.
($12 hourly rate x 50 hours worked) + $100 bonus = $700.
Hourly pay rate x 1.5 x overtime hours worked. To get the total pay, we use the above formula in cell h6 like this: To calculate overtime and pay associated with overtime, you can use the formulas explained on this page.