How To Calculate Salary By Hour

Table of contents:

How To Calculate Salary By Hour
How To Calculate Salary By Hour

Video: How To Calculate Salary By Hour

Video: How To Calculate Salary By Hour
Video: How to calculate Daily|| hourly ||weekly || biweekly and yearly salary in excel sheet 2024, March
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The salary for one hour of work must be calculated to pay for overtime, night shifts, if the working month is not fully worked out. The calculation should be made based on the working period for which you want to pay. To calculate the hourly wage rates when changing the form of remuneration, the calculation is made based on 12 months of the billing period.

How to calculate salary by hour
How to calculate salary by hour

Instructions

Step 1

If an employee has not worked the working month completely, has overwork or night hours, then to calculate the payment for one hour, the salary should be divided, in this calculation period, by the number of working hours according to the schedule. The resulting figure will be payment for one hour of work in this billing period.

Step 2

If a month is not fully worked, the payment for one hour of work must be multiplied by the actual hours worked in this month.

Step 3

To pay for night hours, add up all the time worked during the night from 10 pm to 6 am. The resulting number is multiplied by the payment for one hour and by 20%, unless otherwise specified in the legal regulations of the enterprise. Each business can increase the interest rate for night hours at its discretion, but it is illegal to pay less than 20% over night hours.

Step 4

When paying for overtime, if an employee does not want to take advantage of an additional day off, the prescribed hours according to the schedule in this billing period should be subtracted from the actual working time. The resulting figure should be multiplied by the rate for one hour and multiplied by 2. Since the payment for the processed hours is always doubled.

Step 5

To calculate the average annual pay for one hour, you need to multiply the salary by 12 and divide by the number of hours worked per year. According to this calculation, pay should be made to those employees who often take sick leave or go on vacation at their own expense.

Step 6

If you need to calculate the average rate for one hour per quarter, then the salary is multiplied by 3 and divided by the number of hours worked in the quarter.

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