Please let me know the statutory requirements for calculating Overtime. Whether we have to consider only Basic+DA OR Basic+DA+All Fixed allowances?
From Singapore, Singapore
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5From Singapore, Singapore
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Dear Ramesh,
For overtime calculation as per the Factories Act, we have to consider only the basic salary and DA, and not any other allowances. Overtime should be paid at double the salary rate only when the particular employee works for more than 48 hours in a week or more than 9 hours in a day.
Cheers,
Trisha
HR Professional
From India, New Delhi
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For overtime calculation as per the Factories Act, we have to consider only the basic salary and DA, and not any other allowances. Overtime should be paid at double the salary rate only when the particular employee works for more than 48 hours in a week or more than 9 hours in a day.
Cheers,
Trisha
HR Professional
From India, New Delhi
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SALARY SHEET CALCULATION.xls
Salary calculation.doc