Hi All
In our company, we are planning to implement the overtime policy.
Can anyone please help with the template for the same?
Thank you
Sahiba
Hi All
In our company, we are planning to implement the overtime policy.
Can anyone please help with the template for the same?
Thank you
Sahiba
Dear Sahiba,
It is very simple. As per new Code of Wages 2020 Over Time should be paid double the regular wages. That means 2 times of per hour regular gross wage per hour over time.
Thanks,
Naga Kiran K
Hi Naga Kiran K
Thanks for the reply. I have the details with me as mentioned below.
Under Sec. 33 it is mentioned that for overtime wages are to be paid at the rate of twice the ordinary rates of wages of the worker. It mentions that the employer can take actual work on any day up to 9 hours in a 12 hours shift.
According to the law on minimum wages and rules, we have to divide the wage rate by 26 for calculating 8 hours (one day) of salary. … We must divide wages by 8 to one-day wages. So, if we take OT for one hour, we have to pay twice the salary for one hour.
I need the documented sample Overtime policy with all the required content that should be covered under this policy for reference.
Thanks
Sahiba
Hi @SAHIBA
Sharing some information from my end.
The company’s overtime policy must clearly state the reporting time and working hours for all employees along with provisions relating to leaves and holidays. The HR policy must also include the company’s policy about any remuneration for the extra time any employee works.
The overtime work must be voluntarily taken up by the employee and not forced through an involuntarily or fraudulently signed agreement.
Sample OT Policy is attached
OT.doc (59 KB)
Ref links: https://medium.com/@complyhr/overtime-policies-under-labour-law-in-india-f24f3361707b
Dear sahiba,
greythr has the following kinds of overtime policy that can be implemented.
We can set eligible policy and payout policies:
please do check the above and if the policies satisfy , please do raise a ticket for our support team to help you implement them