Dear Friends,
we are paying the salary in different heads like Basic & DA, HRA, Transport Allowance, Medical Allowance, Children Education Allowance & other allowance. My query is in the above mentioned salary heads which are all the components to be taken for overtime calculation as per factories act 1948.
Regards,
Sujith
From India, Bangalore
2we are paying the salary in different heads like Basic & DA, HRA, Transport Allowance, Medical Allowance, Children Education Allowance & other allowance. My query is in the above mentioned salary heads which are all the components to be taken for overtime calculation as per factories act 1948.
Regards,
Sujith
From India, Bangalore
Hi All the components which are belongs to Daily components which must go to OT with some extra rate say 150% or 200%
From Australia, Windsor
From Australia, Windsor
Dear seniors,
Can anybody send me the details of Components for Over Time Calculation?
as per Factories Act.
Ex. Components like:
BASIC+DA + HRA + CA + SP = Total
Rs.2725/ + Rs.200/ + Rs.200/ + Rs.400/ = Rs.3525/-
How do we calculate per hour???
Pl. guide me without delay
Thanks & Regards,
Avinash Kumar.K
From India, Bangalore
Can anybody send me the details of Components for Over Time Calculation?
as per Factories Act.
Ex. Components like:
BASIC+DA + HRA + CA + SP = Total
Rs.2725/ + Rs.200/ + Rs.200/ + Rs.400/ = Rs.3525/-
How do we calculate per hour???
Pl. guide me without delay
Thanks & Regards,
Avinash Kumar.K
From India, Bangalore
Dear Sujit, OT pay on Gross as in factory act the definiation of wage for overtime is Basic plus such allawances so ot cal. on gross & we pay duble rate. Thanks Amar Singh
From India, Delhi
From India, Delhi
HI
factories act say OIT should be twice the ordinary wage.
If the gross is 3525
Per day wage is 135.57(3525/26) and per hour wages is 16.94(3525/26/8)
So the calculation is Gross/26/8*2*no of OT hours or Gross/104*2*no of OT hours
So for 1 hour OT the calculation is 3525/26/8*2*1=33.89.
PS: pls do check whether the salary is calculated with respect to 26.The minimum wages gazzette say to arrive at the daily wage the salary should be divide by 26.
factories act say OIT should be twice the ordinary wage.
If the gross is 3525
Per day wage is 135.57(3525/26) and per hour wages is 16.94(3525/26/8)
So the calculation is Gross/26/8*2*no of OT hours or Gross/104*2*no of OT hours
So for 1 hour OT the calculation is 3525/26/8*2*1=33.89.
PS: pls do check whether the salary is calculated with respect to 26.The minimum wages gazzette say to arrive at the daily wage the salary should be divide by 26.
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Method of calculation of wages.doc