Miscalculating Overtime Can Cost You Big.
If you run a business and employ non-exempt employees, you need to know how to calculate overtime pay, especially considering how frequently wage and hour mistakes happen.
Overtime = One and one half times the regular rate of pay for hours worked in excess of 40*
Regular Rate = Total Money Earned ÷ Total Hours Worked
* The formulas above apply to federal wage and hour guidelines. Some states have additional requirements.
To calculate overtime for your employees, simply:
- Fill in the hourly wage, hours worked, piece rate, number of pieces or day rate and number of days.
- Enter the hours worked, number of pieces, or number of days.
- Add any additional pay in the third column, then click calculate.
MONEY & RATE
Total Normal Pay
Total Overtime Pay
Total Gross Pay With Overtime
The above information is a summary providing guidance on the key aspects of the law. Federal and state laws are more complex than presented here. This information is simplified for the sake of brevity and is not intended to be a substitute for legal advice. This information is provided with the understanding that (1) the author and publisher are not rendering legal advice and (2) this information is not a substitute for the advice of competent legal counsel. For more information, please contact FrankCrum’s team of human resource professionals.