Pay Calculation Formula:
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Hourly pay with overtime calculates total earnings based on regular hours worked at standard rate and overtime hours worked at a premium rate (typically 1.5x the regular rate).
The calculator uses the following equation:
Where:
Explanation: The equation calculates regular pay and overtime pay separately, then sums them for total earnings.
Details: Accurate pay calculation ensures proper compensation for hours worked and compliance with labor laws regarding overtime pay.
Tips: Enter regular hours and hourly rate (required). Overtime hours and rate are optional - if left blank, overtime rate defaults to 1.5x regular rate.
Q1: What is the standard overtime rate?
A: In many jurisdictions, overtime is paid at 1.5 times the regular rate for hours worked beyond 40 in a week.
Q2: Are overtime rules the same everywhere?
A: No, overtime regulations vary by country and sometimes by state/province. Check local labor laws.
Q3: Is overtime calculated daily or weekly?
A: Typically weekly in most jurisdictions, but some places have daily overtime rules.
Q4: What if I don't enter an overtime rate?
A: The calculator defaults to 1.5 times your regular rate (time-and-a-half).
Q5: Can I use this for multiple jobs with different rates?
A: This calculator is designed for a single job. For multiple jobs, calculate each separately and sum the totals.