Hello,
Please help me how to calclaute the overtime hours..in excel sheet. iwant the no. of hours calculated like if work starts at 9:00 Am. and if he work till 12:00 am. hw it will be calculated.. Any specific formulas in excel sheet.pls help me out.. Reply..any..it will be needful..
Regards,
SHraddha
From India, Mumbai
5Please help me how to calclaute the overtime hours..in excel sheet. iwant the no. of hours calculated like if work starts at 9:00 Am. and if he work till 12:00 am. hw it will be calculated.. Any specific formulas in excel sheet.pls help me out.. Reply..any..it will be needful..
Regards,
SHraddha
From India, Mumbai
Hi Shraddha,
Greetings!
As per my knowledge OT usually calculated as double, let say:
3 hrs x 2 = 6 hrs.
So hopefully no such formulae required. Any seniors can guide please.....!!!
Regards,
Ram
From India, Mumbai
Greetings!
As per my knowledge OT usually calculated as double, let say:
3 hrs x 2 = 6 hrs.
So hopefully no such formulae required. Any seniors can guide please.....!!!
Regards,
Ram
From India, Mumbai
Hi use this formula in excel sheet =SUM(D5-C5+IF(C5>D5,1))., change rows in time mode Prema
From India, Madras
From India, Madras
Hi Shraddha!
It is very simple to calculate the OT. As per labour laws, it must be @ double the normal rate. As you asked, from 9AM to 12Noon, the number of hours are 3 for which extra work has been done by the employee. Coming to calculation of amount, If the employee's Basic plus DA is supposing 'X' , then the OT payable will be (X/120)*3 OR (X/240)*3*2. In otherwords, if his basic+DA is Rs 6000, then the OT payable per hour is =(6000/120)*3=150. Pls note that out of all components of salary, only the Basic+Fixed DA+Variable DA if any only have to be considered for calculating the Over time. In lieu of Overtime which has to be double the wage rate, it is a practice in some of the organisations to pay at single rate as far as monetary benefit and plus on compensatory off also.
with Regards.
Kashinatham Chitturi.
From India, Hyderabad
It is very simple to calculate the OT. As per labour laws, it must be @ double the normal rate. As you asked, from 9AM to 12Noon, the number of hours are 3 for which extra work has been done by the employee. Coming to calculation of amount, If the employee's Basic plus DA is supposing 'X' , then the OT payable will be (X/120)*3 OR (X/240)*3*2. In otherwords, if his basic+DA is Rs 6000, then the OT payable per hour is =(6000/120)*3=150. Pls note that out of all components of salary, only the Basic+Fixed DA+Variable DA if any only have to be considered for calculating the Over time. In lieu of Overtime which has to be double the wage rate, it is a practice in some of the organisations to pay at single rate as far as monetary benefit and plus on compensatory off also.
with Regards.
Kashinatham Chitturi.
From India, Hyderabad
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
From India, Delhi
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
From India, Hyderabad
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
From India, Mumbai
Dear,
The DA is "DEARNESS ALLOWANCE" paid periodically to the employees to enabling the neutrilize 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 salary and considered component of wages for calculation of PF, GRATUITY, LEAVE ENCASHMENT etc.
R.K.SINGH
From India, Delhi
The DA is "DEARNESS ALLOWANCE" paid periodically to the employees to enabling the neutrilize 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 salary and considered component of wages for calculation of PF, GRATUITY, LEAVE ENCASHMENT etc.
R.K.SINGH
From India, Delhi
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Overtime calculation- weekly hours of work.PDF
SALARY SHEET CALCULATION.xls