How to Calculate Overtime: What Components Has to be Included? Shall we have a Prepare Overtime Sheet?
From India, Ahmedabad
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From India, Ahmedabad
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Extra Wages for Overtime Under Factories Act Sec-59
Under Factories Act Sec-59, "Extra wages for overtime" refers to the entitlement of workers to receive wages at the rate of twice their ordinary rate of wages for overtime work.
Definition of Ordinary Rate of Wages
"Ordinary rate of wages" means the basic wages plus such allowances as the worker is entitled to at the time, but it does not include a bonus and wages for overtime work. Preparation of an overtime sheet is required.
Regards, S K Bandyopadhyay (Howrah, WB) CEO USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons]
From India, New Delhi
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367Under Factories Act Sec-59, "Extra wages for overtime" refers to the entitlement of workers to receive wages at the rate of twice their ordinary rate of wages for overtime work.
Definition of Ordinary Rate of Wages
"Ordinary rate of wages" means the basic wages plus such allowances as the worker is entitled to at the time, but it does not include a bonus and wages for overtime work. Preparation of an overtime sheet is required.
Regards, S K Bandyopadhyay (Howrah, WB) CEO USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons]
From India, New Delhi
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Overtime calculation- weekly hours of work.PDF
SALARY SHEET CALCULATION.xls