I want to know that what is the formula for calculating overtime of a security guard.
From India, Hyderabad
From India, Hyderabad
If any employee irrespective of designation engaged in a factory premises, the calculation of OT as per Factories Act,1948 will be same as I have already explained to my earlier post.
Now the question is how to calculate daily wages. There are normally two types of payment daily wages or monthly wages. For daily wages there is no issue for confusion. But in monthly wages - 30 days, 31 days, 28 days or 29 days are confusion. So far my knowledge goes there is no legal guidance other than Gratuity and Minimum wages to arrive daily wages by dividing 26 only. There are different school of thought - divided by 30 irrespective of number of days in a month or divided by actual days in the month or multiplying monthly wages by 12 and divided by 365 etc. etc.
My personal opinion is as per policy of the organization it may be decided. I prefer monthly wages multiplied by 12 and then divided by 365 to arrive at daily wages.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
337Now the question is how to calculate daily wages. There are normally two types of payment daily wages or monthly wages. For daily wages there is no issue for confusion. But in monthly wages - 30 days, 31 days, 28 days or 29 days are confusion. So far my knowledge goes there is no legal guidance other than Gratuity and Minimum wages to arrive daily wages by dividing 26 only. There are different school of thought - divided by 30 irrespective of number of days in a month or divided by actual days in the month or multiplying monthly wages by 12 and divided by 365 etc. etc.
My personal opinion is as per policy of the organization it may be decided. I prefer monthly wages multiplied by 12 and then divided by 365 to arrive at daily wages.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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Overtime calculation- weekly hours of work.PDF
SALARY SHEET CALCULATION.xls