This overtime calculator allows you to estimate the extra income you will generate by working some extra hours.
Use the overtime calculator to find how much extra you will earn for working additional hours at work. The calculator takes your regular hourly rate, overtime hours worked, and the overtime multiplier to find your total overtime pay and total earnings over a specific duration.
You just need to follow these steps to use our calculator:
Step 1: Enter your regular hourly pay rate
Step 2: Choose the overtime multiplier (the default value is 1.5) or add your preferred value
Step 3: Click the “Calculate” button and get your overtime pay rate
Step 4: If you want to calculate the total overtime pay and total earnings of a specific duration,then you must input the regular and total overtime hours worked
Overtime pay is the extra cash an employee earns by working out of their typically scheduled work hours. The Fair Labor Standards Act (FLSA) states that working above 40 hours a week is considered overtime.
Remember that the overtime rate should not be less than one and a half times your regular pay rate. It's the minimum figure, also outlined in the FLSA Act. However, an employee can have a higher rate of OT.
The common overtime rates are listed below, but your employer can also customize this rate:
HOP = m * HRP
Where:
You should have an exact figure of your hourly overtime to find the total overtime precisely:
OP = n * HOP
Where:
Now, If you want to calculate the total salary for the month, then you need to add overtime pay to your regular salary:
TP = RP + OP
Where:
The process of finding your extra earnings becomes even simpler with our overtime calculator. It uses all of the above formulas to calculate your exact earnings for the additional hours that you have worked.
|
Regular Pay |
Time and a Half Pay |
Double Time Pay |
Triple Time Pay |
|
|
(Multiplier =1.5) |
(Multiplier = 2) |
(Multiplier = 3) |
|
$10 |
$15.00 |
$20.00 |
$30.00 |
|
$11 |
$16.50 |
$22.00 |
$33.00 |
|
$12 |
$18.00 |
$24.00 |
$36.00 |
|
$13 |
$19.50 |
$26.00 |
$39.00 |
Reference:
From the source of Wikipedia: Overtime.
From the source of Sage Advice: Do Salaried Employees Get Overtime Pay?
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