I am looking for a perfect answer which can help me in overtime allocation.
How to apply overtime calculation in version 14? Our Company have employees in different sector and the overtime hours differ day by day.
but I have come to know that this problem can be solved using the standard basic rate per hour by adopting an equation.
but i am stuck with how to apply it.
Anyone can help me ?
without specific details on your case a perfect answer would be a miracle, but I would go this direction:
- Make clear what overtime models you have
- Create a salary component to calculate the overtime
- Integrate that salary component to a salary structure
- assign that salary structure to a employee
- create a payroll entry
- your salary structure will be auto-fetched and the overtime will be calculated according to your formula.
Depending on your employment model the salary component/s could contain
- conditions on days with leave or days without leave
- conditions on agreed attendance days *times hours so if more than agreed hours overtime will be calculated etc.
Creating working salary components are quite a headache, but overtime calculation compared to goverment employment tax components, which I guess you already have, should be a smooth task