Download Employee Over Time Calculator Template In Excel

Employee Over time Calculator is a ready-to-use template in Excel that helps you easily calculate overtime.

What is Overtime

For an hourly employee, Overtime refers to extra time an employee spends for works in addition to its regular working hours. In other words, any hours that employee works exceeding their schedule work-time is overtime.

So, This employee over time Calculator is prepared to make it easy.

Overtime Rules

However, Normal working differs from industry to industry and even company to company. As, Some companies have 8 hours and some have 10 hours. So, Companies determine normal working hours depending on the job type and by the best practices of profession.

Payroll Overtime Calculator

So, Overtime Pay means the amount compensated for hours or days worked more than the maximum limit mentioned in your contract or set by federal/provincial law.

Hence, small companies and factories require managing the employee hours for the payment of overtime. It sometimes becomes a very tedious job.

Overtime Pay Formula

There are usually two types of employees: Hourly Employees and Salaried Employees. The calculation of overtime differs for both categories.

Usually, you may use the formula given below to calculate the overtime pay.

Hourly Employee

Use following formula to calculate overtime pay for an hourly employee:

Overtime Pay = Regular pay X 1.5 X number of extra hours

Salaried Employee

The calculation of overtime for salaried employee is quiet different. Firstly, we need to find his pay per day and then find his pay per hour.

Formula to Calculate Hourly Pay

Hourly Pay For Salaried = Yearly Salary / 2080 hours

OR

Hourly Pay For Salaried = Monthly Salary / 160 hours

Overtime Calculator Salary

We have create an Overtime Calculator Excel template with predefine formulas. You can easily calculate overtime. Just enter In and Out time along with overtime rate and it automatically prepare pay sheet for you.

Contents of the Employee Overtime Calculator Template

This template consist of 3 sections: Header Section, Summary Section, and Data Input Section.

Header Section

The header section consists of company name, company logo, and heading of the sheet “Employee Overtime Calculator”.

Summary Section

The summary section consists of following subheadings:

Employee Name: Name of Employee.

Month: Select the month from the drop-down list.

Year: Enter year.

Hours: This cell will display the total number of hours worked by employee for whole month.

Rate/Hr.: Enter rate per hour for overtime.

Total OT: Total OT shows total amount of Overtime earned by an employee.

Data Input Section

This Data Input section consists of following subheadings:

Date: The date from the 1st of every month till the end is displayed here.

In: Employee In time is entered here.

Out: So, Employee Out time is entered here.

Overtime: Therefore, The template automatically calculates the number of hours worked more than the limit.

We have set = limit to 8 hours. You can change this by changing the last part of the formula.

Rate: Rate per hour of Overtime.

Amount: Above all, This column displays the total amount of overtime per day.

In the end, the totals of monthly overtime hours and amounts are displayed.

Download this Employee Over Time Calculator template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Employee Over Time Calculator Excel Template

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