Dear Friends,
We are paying the salary in different heads like Basic & DA, HRA, Transport Allowance, Medical Allowance, Children Education Allowance & other allowances. My query is, in the above-mentioned salary heads, which components should be taken into account for overtime calculation as per the Factories Act 1948.
Regards,
Sujith
From India, Bangalore
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2We are paying the salary in different heads like Basic & DA, HRA, Transport Allowance, Medical Allowance, Children Education Allowance & other allowances. My query is, in the above-mentioned salary heads, which components should be taken into account for overtime calculation as per the Factories Act 1948.
Regards,
Sujith
From India, Bangalore
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Hi All the components which are belongs to Daily components which must go to OT with some extra rate say 150% or 200%
From Australia, Windsor
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From Australia, Windsor
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Dear seniors,
Can anybody send me the details of Components for Overtime Calculation as per the Factories Act?
For example, components like:
BASIC+DA + HRA + CA + SP = Total
Rs.2725 + Rs.200 + Rs.200 + Rs.400 = Rs.3525
How do we calculate per hour?
Please guide me without delay.
Thanks & Regards,
Avinash Kumar.K
From India, Bangalore
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Can anybody send me the details of Components for Overtime Calculation as per the Factories Act?
For example, components like:
BASIC+DA + HRA + CA + SP = Total
Rs.2725 + Rs.200 + Rs.200 + Rs.400 = Rs.3525
How do we calculate per hour?
Please guide me without delay.
Thanks & Regards,
Avinash Kumar.K
From India, Bangalore
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is their is any clause in ESI act regarding overtime and overtrime wages..??
From India, Delhi
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From India, Delhi
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Dear Sujit, OT pay on Gross as in factory act the definiation of wage for overtime is Basic plus such allawances so ot cal. on gross & we pay duble rate. Thanks Amar Singh
From India, Delhi
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From India, Delhi
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The Factories Act states that overtime (OT) should be twice the ordinary wage. If the gross is 3525, the per day wage is 135.57 (3525/26), and the per hour wage is 16.94 (3525/26/8). The calculation for overtime pay is Gross/26/8*2*number of OT hours or Gross/104*2*number of OT hours.
Therefore, for 1 hour of overtime, the calculation is 3525/26/8*2*1 = 33.89.
PS: Please verify if the salary is calculated based on 26 working days. The minimum wages gazette stipulates that to determine the daily wage, the salary should be divided by 26.
Thank you.
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Therefore, for 1 hour of overtime, the calculation is 3525/26/8*2*1 = 33.89.
PS: Please verify if the salary is calculated based on 26 working days. The minimum wages gazette stipulates that to determine the daily wage, the salary should be divided by 26.
Thank you.
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Factories Act 1948.ppt
Draft Notification - Proposed Amendment in The Factories Act 1948.pdf