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  1. Calculation Type
  2. Overtime Calculation Method
  3. Overtime Pay-Rate Calculator


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Calculation Type
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Calculation Type
Calculation Type

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Let us consider the following scenarios to better understand the pay-rate calculations:

Calculation of Overtime payPay-rate Rate based on Flat method

Use case 1: 

Calculation Type: Day Type and Overtime Calculation Method: Flat

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You can define a flat rate in the table in the following two ways:

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Calculation Type: Shift and Overtime Calculation Method: Flat

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In the above table, the Shift Type column displays all the shifts created in the Attendance module automatically. You can define a flat rate in the table in the following two ways:

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Note
  • When a flat amount is entered for All column, then all the day types across the row will have the same values as entered in All column. You can still change the individual entries for all day types. In this case, the All column becomes blank.
  • It is mandatory to enter a flat rate for all the shifts.


Calculation of Overtime payPay-rate Rate based on the Component method

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You must select an OT payroll component (x) for calculating the pay-rate from the Select Payroll Component drop-down list. These components can either be any existing payroll component such as Basic, Gross, DA, etc or a component which you have configured. You can configure the component by creating a formula such as Basic + DA for the component from the Payroll Repository page. After you create the formula on Payroll Repository page, it can be added to the Select Payroll Component drop-down list.
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The OT payroll component (x) is multiplied with the values available in the table under each day type drop-down list. By default, greytHR offers 0x, 1x, 2x, 3x, and 4x as the list of values. Some (Few) users want to configure the list of values such as 1.25x or 2x.
To configure the list of values, navigate to the following path:  System Settings > General > List of Values. Add the values under Overtime Payroll Multiplier.

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Calculation Type: Day Type and Overtime Calculation Method: Component

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Select an OT Payroll Component from the drop-down list. You can enter the list of values in the table in the following two ways:

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Calculation Type: Shift and Overtime Calculation Method: Component

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Select an OT Payroll Component from the drop-down list. In the table, the Shift Type column displays all the shifts created in the Attendance module automatically. You can enter the list of values in the table in the following two ways:

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