BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -According to the FLSA, the formula for calculating overtime pay is the nonexempt employee’s regular rate of pay x 1.5 x overtime hours worked. This calculation may differ in states that have requirements, such as double time, which are more favorable to the employee.

Detailed explanation-2: -Minimum Wages Act, 1948 According to Section 33, workers who work overtime must be paid at a rate that is double their regular rates of pay. It states that the employer may accept actual work up to a maximum of 9 hours every 12-hour shift on any given day.

Detailed explanation-3: -Overtime pay is calculated: Hourly pay rate x 1.5 x overtime hours worked. Here is an example of total pay for an employee who worked 42 hours in a workweek: Regular pay rate x 40 hours = Regular pay, plus. Regular pay rate x 1.5 x 2 hours = Overtime pay, equals.

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.