Attendance Format In Ms Excel With The Formula Of Over Time
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Dear Mr. Virender Singh,As you mentioned above, the workman shall be entitled to wages (not OT) at the rate of twice his ordinary rate of wages. Is it right?Regards,Vilas
Hello, I am handling a security guard business. The Basic pay is 9100 excluding PF and ESIC. The working hours will be 12\. Could you please let me know what the overtime rate will be on an hourly basis?Please assist me.Vishal9120042667
Dear Sir,Please send me the OT calculation in an Excel sheet. The situation is as follows:We are running the production on a quota basis. We have 2 lines for the production of IMFL of different sizes - Qts, Pints, and Nips.For example, the quota is the productio...
Dear Nirmala,As per the Factory Act, we have to calculate the overtime based on the Gross Salary, considering 26 days, and also deduct the ESI amount on the overtime. The formula is as follows:= Total Gross / 26 / 8 * No. of OT hrs * 2(As per the act, we have to...
Dear Nirmala,As per the Factory Act, we have to calculate the overtime based on Gross Salary, considering 26 days, and deduct the ESI amount on the overtime. The formula is as follows:= Total Gross / 26 / 8 * No. of OT hrs * 2(As per the act, we need to pay over...
Dear Meenu,The formula is: Basic + DA/30/8 * No. of hours extra worked * 2\. Please find the Excel file with the formula.Best regards,Srinivasa Araveti
The appended presentation on overtime will be helpful in understanding it better.–-The appended presentation on overtime will be helpful in understanding it better.
Hi All,Thank you for these informative posts on overtime calculation. I work in the IT sector and was in need of this information. Currently, we provide Late Stay Conveyance to our employees. This will assist me in drafting the policy correctly. Please let me kn...
Dear Ms. Nirmla,From a legal point of view, Mr. Vipin is right.Overtime is to be paid double the "Ordinary rate of wages" under sub-section (1) of 59 of the Factory Act 1947\. Thus, I would like to request those who are calculating the overtime based on "Basic S...
Hello,It's simple. It is calculated based on the basic rate. So, basic rate divided by 30 divided by 8 equals the hourly rate. The hourly rate multiplied by the number of extra hours worked.Hope this information is helpful to you.Regards,Rajeev Dixit(09901436123...