What is the correct overtime rate?

Question

If a annual salary of 16500.00. 1375.00 per month Contract states hours are 9-6 with unpaid hr for lunch. Contract states 40 hr week. What is the correct overtime rate being paid and Time & Half ????

I do get paid overtime at Time & a Half. I need correct rate for Time & Half and correct rate for Double Time.

Answer 1

Based on a 40 hr per week and salary @ £16.5k your overtime rates are as follows:
time 1/2 = £11.89 per hour.
Dbl Time=£15.86 per hour.

you work this out by the following:
£16.5k divided by 52 weeks,
=£317.31(rounded) divided by 40 hours per week,
=a basic hourly rate of £7.93(rounded)

I work in HR @ my work and this is the way it is worked out.

Good Luck

Answer 2

A couple of things have to be addressed first. You state annual salary, are you salaried or hourly? If you are paid by the hour, the rate by law is 1.5 times your base rate. In your case based on 2,000 hours allowing for two weeks vacation your rate is $8.25 so overtime would be $12.37. If your rate is based on 2,080 hours then your rate would be $7.93 so overtime would be $11.89. But if you are salaried? There is no overtime paid.

Answer 3

Your employers set the overtime rate. We get time and a half Mon-Sat overtime, and double time on Sundays.

Answer 4

well if your indeed a salary employee you may not have any over time pay. what does your contract state on the issue? what is your dun+4? i could look at it

Answer 5

a time and a half

Answer 6

if paid at time and a half rate 12.89

Answer 7

depends on your contract