Dear All, Please suggest me how to calculate the OT Rates.
One of My software the OT is calculated as per the govt register the Thrice is it correct or the changes to be made
Time worked :0.98 Hrs
Normal Rate:55.56 Per Hours
Overtime Rate :111.12 Hours
Normal Earning :54.45 as per the time worked
Overtime Earnings:108.89 as per time worked
Total Earning : as per time worked will be 108.89 or 163.34 (Includes normal + overtime)
Please suggest what will be the right payment
From India, Bikaner
One of My software the OT is calculated as per the govt register the Thrice is it correct or the changes to be made
Time worked :0.98 Hrs
Normal Rate:55.56 Per Hours
Overtime Rate :111.12 Hours
Normal Earning :54.45 as per the time worked
Overtime Earnings:108.89 as per time worked
Total Earning : as per time worked will be 108.89 or 163.34 (Includes normal + overtime)
Please suggest what will be the right payment
From India, Bikaner
Generally I use this formula to calculate the OT rate = ((salary/working days)/No. of normal working hours))*2 Regards Kavita
From India, Delhi
2From India, Delhi
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TheMinimumWages Act1948-Prov.fo r Time based Rates.pdf
Format--new TDS rates.xls