Accountant, Hr & Ir Handling
Payroll, Domestic Inquiry, Administration,
I have gone through your calculation. it seems that the Driver is paid monthly salary of INR 12500 and working days are 27, you have calculated OT at single rate.
I think the calculation should be as follows:
OT = (Gross salary/(month day i.e. 30 or 31))/8 X No. of OT hours X 2
7th November 2012 From India, Mumbai
minimum working hour should be 8 Hr
If the vehicle driver is belongs to campany then the calculation is as:--
normal Hr of working 08:00 to 05:00pm (excluding lunch time i.e 01:00 to 02:00pm)
OT calculation suppose 05:00pm to 07:00pm OT will be 2hr.
driver rate as per minimum rate of (central or state)
Ot rate twice the rate of normal
7th November 2012 From India, Jamshedpur
He is not driver he is admin assistant & he has to go for out side for official work so we give petrol allowance Rs. 2.50 Per Km.
Secondly our working hours are 9.30 not 8.
so let me know the attached calculation is correct or not also as per our company policy if any employee works less than hours then we will not consider the extras minutes for OT.
8th November 2012 From India, Pune
Please let us know whether company has policy of paying its employee at single rate of wages / salary?
secondly whether your company has 5 days working or 6 days working week?
Overtime should be at double rate of wages / salary.
if your company has 5 days working week then the calculation OT shall be as follows:
OT = ((Gross Salary / Month day i.e.20 days or 21 days applicable) / 9.50) X 2) X No. of OT Hours
8th November 2012 From India, Mumbai