11th October 2018 From India, Pune
Overtime is paid on normal monthly Basic + DA at double the rate. On allowances it is not paid (in my opinion). However I am producing below the relevant Section of Factories Act below
Section 59. Extra wages for overtime.
(1) Where a worker works in a factory for more than nine hours in any day or for more than forty- eight hours in any week, he shall, in respect of overtime work, be entitled to wages at the rate of twice his ordinary rate of wages.
(2) For the purposes of sub-section (1), "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 foodgrains and other articles, as the worker is for the time being entitled to, but does not include a bonus and wages for overtime work.
12th October 2018 From India, Thane