The hourly rate received by an employee does not represent the full extent of the compensation he receives. Benefits costs -- such as health insurance, retirement, disability insurance, employee assistance plans and employer contributions to Social Security, for example -- also need to be factored ...
Many jobs are paid based on an hourly rate rather than an annual salary that's divided up into predetermined amounts for each pay period. Usually, this does not make any difference, but occasionally you may need to calculate annual salary from hourly wage. Credit applications usually require a...
It only takes a few steps to calculate an hourly rate from a salary. Calculating hourly rate from salary in 3 steps Calculating your hourly pay rate only takes a few steps, which are detailed below. But keep in mind that you might be able to find some of this information—like your ...
Calculate a worker's output during a set period of time. Choose a period of time that doesn't hide or exaggerate seasonal spikes or dips in the business and that is meaningful to both the business and the worker. For example, a toy factory would calculate the output of a production-line...
For working on these holidays, they are entitled to 200% of their daily wage, which is 4,000 pesos x 2 = 8,000 pesos per day. Overtime pay, typically calculated at 130% of the hourly rate for holidays, would add an additional (500 pesos x 1.3 x 2 hours) = 1,300 pesos, making...
Calculate the regular hourly pay rate. This rate is the hourly rate you agreed to pay the employee for hours worked. To arrive at the employee’s gross wages, multiply the hours worked in the pay period by the regular pay rate.
Using Hours Worked to Calculate Gross Wage To determine an employee's wage, you’ll need toconvert hours and minutes into decimal format. After that, multiply the hours worked by the hourly wage to determine the gross pay. For example, if an employee works eight hours and 30 minutes, that...
During the period of from February 16th to 19th, overtime arrangements can be arranged. If no compensation is given, overtime pay should be paid at 200% of the daily or hourly wage of the worker. In addition, during the Spring Festival, the annual overtime pay for statutory holidays. ...
If you have nonexempt employees, you must pay them time and a half. Learn how to calculate time and a half for hourly and salaried employees.
Factor in all your work hours to calculate hourly wage. Image Credit:Darren415/iStock/GettyImages A salary breakdown to hourly pay can reveal how much you are earning based on the amount of time you put in. People who make $50,000 a year but work 80 hours a week aren't doing themsel...