Overtime Computation Formula

  • Uploaded by: Charie G
  • 0
  • 0
  • October 2019
  • PDF

This document was uploaded by user and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Report DMCA


Overview

Download & View Overtime Computation Formula as PDF for free.

More details

  • Words: 359
  • Pages: 2
OVERTIME COMPUTATION FORMULA On Ordinary days: First, let’s compute for the hourly wage rate  as follows: Regular hourly rate = Daily wage rate / 8  hours = P350/8 = P43.75 per hour Then, let’s compute for the overtime rate per hour as follows: Overtime rate = hourly rate + 25% of hourly rate = P43.75 + (.25 x 43.75) = P43.75 + 10.94 =P54.7 per hour On a rest day and special day Computation of hourly wage rate: Hourly rate = 130% of Regular Hourly Rate = P43.75 x 1.3 = P56.87 per hour Computation of overtime rate: Overtime rate = Hourly rate + 30% of  Hourly rate = P56.87 + (30% of P56.87) = P56.87 + P17.061 = P73.93 per hour On a rest day which falls on a special day Computation of hourly wage rate: Hourly rate = 150% of Regular hourly rate =P43.75 x 1.5 =P65.62 per hour Computation of overtime rate:

Overtime rate = Hourly rate + 30% of  Hourly rate = P65.62 + (30% of P65.62) = P65.62 + 19.69 = P85.31 per hour

Please be guided accordingly.

On a regular holiday Computation of hourly wage rate: Hourly rate = 200% of Regular hourly rate =P43.75 x 2 =P87.5 per hour Computation of overtime rate: Overtime rate = Hourly rate + 30% of  Hourly rate =P 87.5 + (30% of P87.5) =P87.5 + 26.25 =P113.75 per hour On a rest day which falls on regular  holiday Computation of hourly wage rate: Hourly rate = 260% of Regular hourly rate =P43.75 x 2.6 =P113.75 per hour Computation of overtime rate: Overtime rate = Hourly rate + 30% of  Hourly rate =P113.75 + (30% of P113.75) = P113.75 + 34.13 =P143.88 per hour Source: Department of Labor and  Employment (DOLE) Philippines

Disclaimer: New and subsequent issuances,  rulings, or laws may cause the whole or  part of the article inaccurate or obsolete. It  is advised to make inquiries with the  Department of Labor and Employment for  more information. Computing 13th Month Pay: Total basic salary earned for the year  exclusive of allowances, overtime, holiday,  and night shift differential pay divided by 12 months = 13th month pay.

Related Documents

Overtime View
May 2020 4
Computation
November 2019 22
Overtime Form
November 2019 5
Overtime Slip.docx
December 2019 6
Formula
May 2020 45

More Documents from ""