Dear Friend,
For OT calculation would be on follwoing - Basic + DA/26/8x2 x number of hours worked.
For the monthly salary its calculated on the basis of total days in a month for Exp Mar have 31 days . If we calculated 2 days salary of individual, the calculation would be - Total Gross Salary /31 x 2 days.
Further If we taking about his OT , It will becalculated on 26 days basis ( According to Factory Act - Under Section-59)
From India, Delhi
For OT calculation would be on follwoing - Basic + DA/26/8x2 x number of hours worked.
For the monthly salary its calculated on the basis of total days in a month for Exp Mar have 31 days . If we calculated 2 days salary of individual, the calculation would be - Total Gross Salary /31 x 2 days.
Further If we taking about his OT , It will becalculated on 26 days basis ( According to Factory Act - Under Section-59)
From India, Delhi
Dear All,
Calculating Overtime is very simple it is the twice of Basic+ DA (calculate hourly rate.
as we calculate salary based on number of days in a month for monthly paid employee we must consider days as per calendar month for per day OT rate calculation.
devide by 8 hours to get per hour rate.
Per hour OT rate =(((basic+DA) *2) / 30) / 8)
OT Hours * Per hour OT rate = OT amount
From India, Mumbai
121Calculating Overtime is very simple it is the twice of Basic+ DA (calculate hourly rate.
as we calculate salary based on number of days in a month for monthly paid employee we must consider days as per calendar month for per day OT rate calculation.
devide by 8 hours to get per hour rate.
Per hour OT rate =(((basic+DA) *2) / 30) / 8)
OT Hours * Per hour OT rate = OT amount
From India, Mumbai
Thank you for your reply.
I have checked the sention 59 in Factories Act, but in that it is not mentioned clearly that for OT calculation monthly salary to be divided by 26 days.
And also as per Factories Act 1948 'Ordinary Rate of Wages' means "the basic wages plus such allowances, including the cash equivalent of the advantage accruing through the concessional sale to workers of food grains and other articles, as the worker is for the time being entitled to, but does not include a bonus and wages for overtime work. "
What all are come under the word 'such allowance' and how can we say OT wages is only Basic+ DA.
Waiting for reply
Anoop
From India, Cochin
I have checked the sention 59 in Factories Act, but in that it is not mentioned clearly that for OT calculation monthly salary to be divided by 26 days.
And also as per Factories Act 1948 'Ordinary Rate of Wages' means "the basic wages plus such allowances, including the cash equivalent of the advantage accruing through the concessional sale to workers of food grains and other articles, as the worker is for the time being entitled to, but does not include a bonus and wages for overtime work. "
What all are come under the word 'such allowance' and how can we say OT wages is only Basic+ DA.
Waiting for reply
Anoop
From India, Cochin
Dear All,
Calculate overtime as follow in simple way
(Monthly salary X Hrs workered(OT) /240) X 1.5 or 2 (as applicable 1.5 times or double)
240 hrs for 30 day month and 248 hrs for 31 day month
Regards
MS
From India
Calculate overtime as follow in simple way
(Monthly salary X Hrs workered(OT) /240) X 1.5 or 2 (as applicable 1.5 times or double)
240 hrs for 30 day month and 248 hrs for 31 day month
Regards
MS
From India
HI SIR PLEASE SUGGEST OVER TIME CALCULATION FOR GROSS SALARY ( PER DAY RATE 427 WORKING DAY-26 AND EARNED AMOUNT 15600
From India, Chandigarh
From India, Chandigarh
Dear All,
1. OT is always Double irrespective of no. of extra hrs put in
2. Per OT hrs amount is = {Gross/(no.of working days in a month)/8}*2 eg. if gross salary of person is 3300/- then in the month of January Per HRs OT would be = (3300/25/8)* 2 = Rs. 33.00 and in month of February would be = (3300/24/8) * 2 = Rs. 34.38 & So on
For more clarity ref : Payment of wages Act along with Factory Act.
From India, Vadodara
1. OT is always Double irrespective of no. of extra hrs put in
2. Per OT hrs amount is = {Gross/(no.of working days in a month)/8}*2 eg. if gross salary of person is 3300/- then in the month of January Per HRs OT would be = (3300/25/8)* 2 = Rs. 33.00 and in month of February would be = (3300/24/8) * 2 = Rs. 34.38 & So on
For more clarity ref : Payment of wages Act along with Factory Act.
From India, Vadodara
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