This time card calculator determines the payroll for the hours worked within one week and measures what you cash in for the amount of time spent at work. Read more on the subject below the form.
How does this time card calculator work?
This timesheet calculator requires only time card daily times in and out and returns total hours worked in a week along with regular hours, overtime hours, regular pay, overtime pay and gross pay. Multiplying by 4 the time card report results you can get an estimate on how much you can expect to earn within one month.
You are required to input:
- The Hourly pay rate;
- The Overtime pay rate if applicable;
- The Overtime pay rate option;
- The timesheet times in and out for each day and period (the in and out hours per each working day in the hh:mm AM/PM format).
The time card calculator makes the difference for each day between the ins and outs, then based on the overtime pay rate options calculates the regular hours and overtime hours worked. Further on it multiplies the regular hours worked with the corresponding hourly pay rate. The same does for the overtime hours.
It is a handy tool for both payroll administrators and employees since it returns total hours worked within a week along with regular hours, overtime hours, regular pay, overtime pay and gross pay.
- Do many employers pay overtime?
There is no certain evidence to answer this question, but there is legislation that governs the employee’s rights and employer’s obligations on this matter.
- Paying overtime hours can stimulate employees?
Yes, they can stimulate employees staying overtime when the employers would require it.
- What is the most common overtime pay rate?
Most employers pay each overtime hour with 1.5 of the regular hourly rate, but that depends on many factors such as: legislation within the state the company is based, the financial possibilities the company has, the productivity the employees have within overtime hours.18 Dec, 2014