Dear Sirs,
What is the formula for over time in india??. is it (Basic+PF)/8x2. I mean on over time is there any PF is applicable???. Total out go to contractor??.Pls answer, this is required to calculate over time of contract labour.
Vijay Dubey (HR) 11 December 2009
Dear Kini,
Formula to calculate over time is as under
=round(((basic+DA)*2)*total overtime/no. of days in month or 26,0)
and for for your information PF deduction is not applicable on overtime's pay.
Regards from
Nothing but
Vijay
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