Monthly Minimum wages of a labour is Say 3000, and daily wages of a labour is say 124
If we have to give OT to monthly basis trade workers what will be the per hour overtime rate?
I will require your concrete knowledge please
regards
From India, Mumbai
14If we have to give OT to monthly basis trade workers what will be the per hour overtime rate?
I will require your concrete knowledge please
regards
From India, Mumbai
Hi,
If u want to calculate OT for the employee having 3000 salary per month.
then,
3000/30 days (depend upon number of days in that particular month)=100
100/8=12.5 As per factories act over time is by double rate so 12.5*2=Rs. 25 Per/Hour
any clarification pls reply,
regards,
Rahul
From India, Bangalore
If u want to calculate OT for the employee having 3000 salary per month.
then,
3000/30 days (depend upon number of days in that particular month)=100
100/8=12.5 As per factories act over time is by double rate so 12.5*2=Rs. 25 Per/Hour
any clarification pls reply,
regards,
Rahul
From India, Bangalore
Dear Shamal,
O.T. specified under Factory Act to pay double the rate of normal pay that means what u r paying to employee for 1 hour normally he has to be paid the payment of 2 hours on doing O.T..
For instance: the O.T. hours are 10 and salary is 3000/-
3000/26/8=1 hour salary i.e.14.42*2=28.84*10=288.46.
So, u have to pay him Rs. 288/-for his 10 hours of O.T.
Pls. note that it is presumed that your factory is under factory act and it may be different if covered under shops and comm. estt. act.
Regards,
KIRAN KALE.
From India, Kolhapur
O.T. specified under Factory Act to pay double the rate of normal pay that means what u r paying to employee for 1 hour normally he has to be paid the payment of 2 hours on doing O.T..
For instance: the O.T. hours are 10 and salary is 3000/-
3000/26/8=1 hour salary i.e.14.42*2=28.84*10=288.46.
So, u have to pay him Rs. 288/-for his 10 hours of O.T.
Pls. note that it is presumed that your factory is under factory act and it may be different if covered under shops and comm. estt. act.
Regards,
KIRAN KALE.
From India, Kolhapur
Dear Shyamal,
As per Factories Act 1948 calculation of overtime wages is as follows.
Upto 9 hrs per day or 48 hrs per week, it is normal rate. In excess, the rate will be doubled.
Accordingly calculate the total hrs in both level and find whichever is beneficial to employees. Classify their over time hrs into single and double earnings. i.e for the difference between regular working hrs and above specified hrs (9 hrs/day or 48 hrs/week, as the case may be), single earning is eligible and in excess double.
Abbas.P.S
From India, Bangalore
As per Factories Act 1948 calculation of overtime wages is as follows.
Upto 9 hrs per day or 48 hrs per week, it is normal rate. In excess, the rate will be doubled.
Accordingly calculate the total hrs in both level and find whichever is beneficial to employees. Classify their over time hrs into single and double earnings. i.e for the difference between regular working hrs and above specified hrs (9 hrs/day or 48 hrs/week, as the case may be), single earning is eligible and in excess double.
Abbas.P.S
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
OT Calculation.zip
OT CALCULATION.xls
Contractor Labour Minimum wges calculation .rar