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This overtime calculator is a tool that finds out how much you will earn if you have to stay longer at work. All you have to do is provide some information about your hourly wages, and it will calculate the total pay you will receive this month.
The Overtime Formula. The basic overtime formula is (Hourly Rate) × (Overtime Multiplier) × (Number of Overtime Hours worked in a particular week). The overtime calculator uses the following formulae: Regular Pay per Period (RP) = Regular Hourly Pay Rate × Standard Work Week; Overtime Pay Rate (OTR) = Regular Hourly Pay Rate × Overtime ...
Understanding how to calculate overtime can help you determine how much additional pay you'll receive during a given week or pay period. In this article, we define overtime, explain who qualifies for overtime and list the steps for calculating overtime for salaried, hourly and exempt employees.
According to the FLSA, the formula for calculating overtime pay is the nonexempt employee’s regular rate of pay x 1.5 x overtime hours worked. This calculation may differ in states that have requirements, such as double time, which are more favorable to the employee.
FLSA Overtime Calculator Advisor. Covered, nonexempt employees must be paid overtime pay at no less than one and one-half times the employee’s regular rate of pay for hours worked in excess of 40 in a workweek.
The overtime pay formula is the employee’s regular pay rate times 1.5 times the number of overtime hours. For example, for an employee with a regular pay rate of $25 an hour, their overtime pay rate is $37.50 an hour ($25 x 1.5).
You can determine the overtime pay by multiplying the overtime hourly pay by the number of hours of overtime. Calculate total pay with overtime. Now, you can add up the regular pay and overtime pay. This will give you the total pay with overtime. Here are some other related calculators.
Calculate Overtime Pay for an Hourly Employee. The Paper Company paid Tom a production bonus of $200. He worked 48 hours this week and is paid a $9 hourly rate. Regular Earnings: 48 (all hours worked) x $9 (the hourly rate) = $432; $432 (regular earnings) +200 bonus; $632 total gross earnings; Overtime Pay. $632 ÷ 48 hours = regular rate of $13.17
It includes a basic discussion of a covered employer's obligation to pay overtime to eligible employees and the two main factors that go into calculating the amount of overtime compensation...
Overtime Security Advisor – helps determine which employees are exempt from the FLSA minimum wage and overtime pay requirements under the Part 541 overtime regulations. Overtime Calculator Advisor – computes the amount of overtime pay due in a sample pay period based on information from the user.