Dear Sir, I want to know how to calculate the over time of workers in an organisation. Regards Ekta pant
From India, New Delhi
1From India, New Delhi
Well, as explained above, you can go with the same. In short you can assume the overtime as it the double amount per hour comparing to the normal working hours in terms of compensation. You can many online software that can help you in managing your payroll with alongwith managing overtime payouts.
From India, Lucknow
From India, Lucknow
plese provide all salary structure for my knowledge i have done MBA HR i want know payroll how to do it in excel
From India, Mumbai
From India, Mumbai
Dear all, Why OT is calculated on 26 days or it may be calculated on no of day in a particular month? What the law says? Please clarify. Regards Rajendra Mohanty
From India, New Delhi
From India, New Delhi
Hi
If you look into the minimum wages gazzette, it says "To arrive at daily wage, the monthly wages shall be divide by 26". Which will help to have constant wage for OT or any salary pertaining calculation. If you calculate by number of days in a monthly, there will be variance on a OT and other allowance. For example how you calculate for the month of february. But your employee will get full salary if they worked for the full month, but they will less in OT wages.
So 26 is the constant number which is derived like 365-52=313(365 days in ayear-52sunday) and 313/12=26 (313-12(months)=26 days. so average of a month is 26.
If you look into the minimum wages gazzette, it says "To arrive at daily wage, the monthly wages shall be divide by 26". Which will help to have constant wage for OT or any salary pertaining calculation. If you calculate by number of days in a monthly, there will be variance on a OT and other allowance. For example how you calculate for the month of february. But your employee will get full salary if they worked for the full month, but they will less in OT wages.
So 26 is the constant number which is derived like 365-52=313(365 days in ayear-52sunday) and 313/12=26 (313-12(months)=26 days. so average of a month is 26.
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