Hello,
Please help me with how to calculate the overtime hours in an Excel sheet. I want the number of hours calculated, like if work starts at 9:00 AM and continues until 12:00 AM. How should it be calculated? Are there any specific formulas in Excel that can help with this calculation? Please assist me. Any reply will be greatly appreciated.
Regards,
Shraddha
From India, Mumbai
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5Please help me with how to calculate the overtime hours in an Excel sheet. I want the number of hours calculated, like if work starts at 9:00 AM and continues until 12:00 AM. How should it be calculated? Are there any specific formulas in Excel that can help with this calculation? Please assist me. Any reply will be greatly appreciated.
Regards,
Shraddha
From India, Mumbai
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Hi Shraddha,
Greetings!
As per my knowledge, OT is usually calculated as double. Let's say: 3 hrs x 2 = 6 hrs. So, hopefully, no such formulae are required. Any seniors can guide, please...!!!
Regards,
Ram
ramkpoddar82@gmail.com
From India, Mumbai
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Greetings!
As per my knowledge, OT is usually calculated as double. Let's say: 3 hrs x 2 = 6 hrs. So, hopefully, no such formulae are required. Any seniors can guide, please...!!!
Regards,
Ram
ramkpoddar82@gmail.com
From India, Mumbai
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Hi use this formula in excel sheet =SUM(D5-C5+IF(C5>D5,1))., change rows in time mode Prema
From India, Madras
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From India, Madras
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Hi Shraddha!
It is very simple to calculate the OT. As per labor laws, it must be at double the normal rate. As you asked, from 9 AM to 12 Noon, the number of hours worked is 3, for which extra work has been done by the employee. Coming to the calculation of the amount, if the employee's Basic plus DA is, let's say, 'X', then the OT payable will be (X/120)*3 OR (X/240)*3*2. In other words, if his basic+DA is Rs 6000, then the OT payable per hour is = (6000/120)*3 = 150. Please note that out of all components of salary, only the Basic + Fixed DA + Variable DA, if any, have to be considered for calculating the overtime. In lieu of overtime, which has to be double the wage rate, it is a practice in some organizations to pay at a single rate as far as the monetary benefit and compensatory time off are concerned.
With Regards,
Kashinatham Chitturi.
From India, Hyderabad
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It is very simple to calculate the OT. As per labor laws, it must be at double the normal rate. As you asked, from 9 AM to 12 Noon, the number of hours worked is 3, for which extra work has been done by the employee. Coming to the calculation of the amount, if the employee's Basic plus DA is, let's say, 'X', then the OT payable will be (X/120)*3 OR (X/240)*3*2. In other words, if his basic+DA is Rs 6000, then the OT payable per hour is = (6000/120)*3 = 150. Please note that out of all components of salary, only the Basic + Fixed DA + Variable DA, if any, have to be considered for calculating the overtime. In lieu of overtime, which has to be double the wage rate, it is a practice in some organizations to pay at a single rate as far as the monetary benefit and compensatory time off are concerned.
With Regards,
Kashinatham Chitturi.
From India, Hyderabad
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Hi Shraddha, I am attaching one file which may be meet to your requirement, just put o.t. & change in Basic Salary, it will calculate Over time wages. Thanks & Regards Manoj Yadav
From India, Delhi
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From India, Delhi
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Can Any body , Explain the formula of Over Time Properly and complete with some Example. Regards Smrins
From India, Hyderabad
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From India, Hyderabad
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Dear Yadav, I think your OT calculation formula is worng.Because The OT calculation could be on gross salary and we should pay double amount of daily wage.
From India, Hyderabad
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From India, Hyderabad
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Hi,
The OT Formula is = ROUND((BASIC + DA) / 30 / 8 * 2). The Overtime is normally double on basic and DA. It should be divided by the total days of the month and working hours, i.e., 8 hours, and then multiplied by 2.
Regards,
Meera
From India, Mumbai
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The OT Formula is = ROUND((BASIC + DA) / 30 / 8 * 2). The Overtime is normally double on basic and DA. It should be divided by the total days of the month and working hours, i.e., 8 hours, and then multiplied by 2.
Regards,
Meera
From India, Mumbai
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Dear Shradhha, OT is calculated as : (Basic + Sp. All OR D. A.) / No. of days in a month / 8 hrs * OT hrs * 2 Regards Reshma
From India, Mumbai
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From India, Mumbai
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Dear,
The DA is "DEARNESS ALLOWANCE" paid periodically to the employees to enable the neutralization of the cost of living. It is substituted by IDA (INDUSTRIAL DEARNESS ALLOWANCE) or COLA (COST OF LIVING ALLOWANCE) for the industrial workers. It forms a major part of the salary and is considered a component of wages for the calculation of PF, GRATUITY, LEAVE ENCASHMENT, etc.
R.K. SINGH
From India, Delhi
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The DA is "DEARNESS ALLOWANCE" paid periodically to the employees to enable the neutralization of the cost of living. It is substituted by IDA (INDUSTRIAL DEARNESS ALLOWANCE) or COLA (COST OF LIVING ALLOWANCE) for the industrial workers. It forms a major part of the salary and is considered a component of wages for the calculation of PF, GRATUITY, LEAVE ENCASHMENT, etc.
R.K. SINGH
From India, Delhi
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