BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -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).

Detailed explanation-2: -Overtime pay is the amount of overtime paid to each employee in a pay period. Overtime pay is calculated: Hourly pay rate x 1.5 x overtime hours worked.

Detailed explanation-3: -To get the hourly time and a half rate, multiply the regular hourly wage by 1.5. 3. Multiply the hourly overtime pay by the number of overtime hours rendered.

Detailed explanation-4: -The most common rate for this overtime premium is the employee’s usual rate, plus half their rate again. This is 50% more than your employees standard wage and means that for every hour of overtime they work, they receive 1.5 of their regular hourly rate.