Dear Sir
I am working in one MNC. I just want to know that if any worker work more then 8 hours in a day then we have to give them over time, so my question is over time should be calculated on basic salary or on gross salary?
From United Kingdom,
I am working in one MNC. I just want to know that if any worker work more then 8 hours in a day then we have to give them over time, so my question is over time should be calculated on basic salary or on gross salary?
From United Kingdom,
Dear Member,
Welcome to CiteHR.
Regarding your query first see under which of the Act/Rules you are required to pay Overtime & then go the provisions relating to payment of OT in that Act/Rules.
[SIZE=1]R.N.KHOLA
[B][COLOR=#3366FF][FONT=Verdana]
From India, Delhi
363Welcome to CiteHR.
Regarding your query first see under which of the Act/Rules you are required to pay Overtime & then go the provisions relating to payment of OT in that Act/Rules.
[SIZE=1]R.N.KHOLA
[B][COLOR=#3366FF][FONT=Verdana]
From India, Delhi
Dear dev,
This is sarojini we are in manufacturing company in our company we are using the following formula for OT calculation.
OT Formula=Basic/no.of.working days in a month/no.of.working hours in a day*2*no.of OT hours
From India, Hyderabad
This is sarojini we are in manufacturing company in our company we are using the following formula for OT calculation.
OT Formula=Basic/no.of.working days in a month/no.of.working hours in a day*2*no.of OT hours
From India, Hyderabad
hi dev,
i think this is right formula to calculate OT said by sarojini...
This is sarojini we are in manufacturing company in our company we are using the following formula for OT calculation.
OT Formula=Basic/no.of.working days in a month/no.of.working hours in a day*2*no.of OT hours[/QUOTE]
From India, Bangalore
i think this is right formula to calculate OT said by sarojini...
This is sarojini we are in manufacturing company in our company we are using the following formula for OT calculation.
OT Formula=Basic/no.of.working days in a month/no.of.working hours in a day*2*no.of OT hours[/QUOTE]
From India, Bangalore
Dear Veeresh,
For your calarification
1st Step:
O.T = Basic/no. of working days in a month
You will get the Basic pay for one day, Now it is to find out the Basic Pay for an Hour ( in our concern i use calculation for minutes). So next step is,
2nd Step:
The result of 1st step/no. of working hours per day
3rd Step:
The result of 2nd Step X no. of O.T hours worked.
For example:
Basic = 3500.00 No. of Days: 25 No.of working hours: 8 O.T hours = 2
Then
3500/25/8*2
From India, Coimbatore
For your calarification
1st Step:
O.T = Basic/no. of working days in a month
You will get the Basic pay for one day, Now it is to find out the Basic Pay for an Hour ( in our concern i use calculation for minutes). So next step is,
2nd Step:
The result of 1st step/no. of working hours per day
3rd Step:
The result of 2nd Step X no. of O.T hours worked.
For example:
Basic = 3500.00 No. of Days: 25 No.of working hours: 8 O.T hours = 2
Then
3500/25/8*2
From India, Coimbatore
Mr Debu, Over time is always calculated on hourly basis and on his basic and V D A (if applicable ) as gross contains many components such as H R A , incentive ,etc. Sita Ram Pandey
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