Work Employee Overtime Formula
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How to fill out California Production Bonus Pay Agreement For Construction?
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FAQ
Overtime is when you pay your employees 1.5 times their normal rate, while double time is when you pay your employees twice their normal rate. For instance, if an employee regularly earns $17, their overtime rate is $25.5 per hour, while their double time rate is $34 per hour.
The standard overtime rate is 1.5 times the employee's regular hourly wage. This number is also commonly known as ?time-and-a-half.? So if one employee makes $15 per hour, their overtime rate is $22.50 per hour ($15 x 1.5). If another employee makes $25 per hour, their overtime rate is $37.50 per hour ($25 x 1.5).
The most common calculation used for overtime is base rate x 1.5 x hours worked, this calculation works for most circumstances because many workers make one base rate that does not change.
If you're paid biweekly, your overtime is still based on the 7-day week. This means you can isolate each consecutive 7-day period in a 40-hour workweek to calculate your overtime pay. While your pay is biweekly, your hours per week are what count when determining overtime pay.
To find out what time and a half is for $17 per hour, you can multiply your hourly wage by 1.5. Time and a half is $25.50 per hour for $17 per hour.