Over Time Pay means the amount compensated for hours or days worked in excess of the maximum limit mentioned in your contract or set by federal/provincial law.
Usually, small companies and factories require managing the employee hours for the payment of overtime. It sometimes becomes a tedious job.
We have created an Over Time Calculator Excel template with predefined formulas.
With this template, you can easily and efficiently calculate overtime. Just enter the In and Out time along with the overtime rate and it will automatically calculate everything for you.
Click here to Download Employee Overtime Calculator Excel Template.
You can download the same in Apple Numbers from the below link:
Overtime Calculator Apple Numbers Template
Additionally, you can download other accounting templates like Petty Cash Book, Simple Cash Book, and Accounts Payable Excel Templates from here.
Let us discuss the contents of the template in detail.
Contents of the Employee Overtime Calculator Template
This template consist of 3 sections
- Header Section.
- Summary Section.
- Data Input Section.
1. Header Section
Header section consists of the company name, company logo and heading of the sheet “Employee Overtime Calculator”.
2. Summary Section
The summary section consists of the following subheadings:
Employee Name: Name of Employee.
Month: Select the month from the drop-down list.
Click on the link below to learn how to easily create a drop-down list.
How to create a drop-down list in 3 easy steps.
Year: Enter year.
Hours: This cell will display the total number of hours worked by the employee in the whole month.
Rate/Hr: Enter the rate per hour for overtime.
Total OT: Total OT shows the total amount of Overtime earned by the employee.
3. Data Input Section
Data Input section consists of the following subheadings:
Date: Date from 1st of every month till the end is displayed here.
In: Employee In time is entered here.
Out: Employee Out time is entered here.
Overtime: The template automatically calculates the number of hours worked in excess of the limit.
The formula applied here is =IF(OR(D11=””,F11=””),””,(IF(D11>”12:00″,”00:00″,(“24:00”-D11)+F11))-“08:00”)
We have set the limit to 8 hours. You can change it by changing the last part of the formula.
Rate: Rate per hour of Overtime.
Amount: Total amount of overtime per day is displayed.
In the end, totals of month overtime hours and amount are displayed.
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Thank You so much . infact your efforts are priceless. Its made my work so easy and many many thanks.
Happy to know that it helped you. We also have many other such templates in our HR Templates category. Apart from that, there are many accountings Templates as well as financial analysis templates which can be helpful to you as well as your colleagues. Please share the links with your friends and colleagues and also on different social media. Thank you for appreciating our efforts. This encourages us to do more.
Hi I am a small works shop owner where in we have 8 workers and 1 supervisor
I have put the attendance machine which gives excel output of the attendance
The workers are on daily wedge basis and supervisors on monthly wedge system.
We dont have seperate account hr etc department I only handle the things
Is it possible to that the data through the attendance machine is directly coupled to the salary calculator
If not do you have some template where in by feeding the data from the excel the salary is calculated and the salary slip is generated
We have only basic pay and dont give any allowance except for overtime and bonus for the workers as the works doesn’t fit in to PF bracket we have deduction only against advance
Thanking you in advance Sanjeev
Hi Sanjeev. I have understood your point. You will need to customize the sheet merging with salary. It will be a tough job for you. Contact +91 9687858563 for customizing your sheet as per your requirement. Thanks and Regards