Business Math - Salary and Wage
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This document presents business math calculations for various types of holidays and overtime pay. Examples are included to illustrate the calculations for different scenarios.
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BUSINESS MATH TYPE OF RAT COMPUTATION AND HOLIDAY E EXAMPLE EXAMPLE: EMPLOYEES DAILY RATE IS 480.00 SPECIAL 150 HOLIDAY PAY = DR x HR HOLIDAY AND % AT THE SAME TIME REST DAY LEGAL/ 200 HOLIDAY PAY = DR x HR REGULAR...
BUSINESS MATH TYPE OF RAT COMPUTATION AND HOLIDAY E EXAMPLE EXAMPLE: EMPLOYEES DAILY RATE IS 480.00 SPECIAL 150 HOLIDAY PAY = DR x HR HOLIDAY AND % AT THE SAME TIME REST DAY LEGAL/ 200 HOLIDAY PAY = DR x HR REGULAR % HOLIDAY LEGAL/ 260 HOLIDAY PAY = DR x HR REGULAR % HOLIDAY AND AT THE SAME TIME REST DAY DOUBLE 300 HOLIDAY PAY = DR x HR HOLIDAY % COMPUTATION OF OVERTIME PAY TYPE OF RAT COMPUTATION AND OVERTIME E EXAMPLE EXAMPLE: EMPLOYEES DAILY RATE IS 480.00 (hourly rate 60.00) AND WORK 3 HOURS OVERTIME ORDINARY DAY 125 OVERTIME PAY = (Employees % hourly rate x OT rate) x # of hours REST DAY AND 169 OVERTIME PAY = (Employees SPECIAL % hourly rate x OT rate) x # of hours HOLIDAY TYPE OF RATE COMPUTATION AND EXAMPLE OVERTIME EXAMPLE: EMPLOYEES DAILY RATE IS 480.00 (hourly rate 60.00) AND WORK 3 HOURS OVERTIME SPECIAL HOLIDAY 195% AND AT THE SAME TIME REST DAY REGULAR 260% HOLIDAY REGULAR 338% HOLIDAY AND AT THE SAME TIME REST DAY OVERTIME DOUBLE HOLIDAY 390% OVERTIME DOUBLE HOLIDAY 507% AND AT THE SAME TIME REST DAY
