Sunday, February 22, 2015

How To Compute for Hourly Rate

e-pinoyguide / 9:14 PM / 0
Hourly rate is used in determining overtime pay and night differential. Hourly rate is computed using the following formula:
Hourly Rate = Daily rate / total working hours per day

For Monthly-Paid Earners

Example: Employee has a monthly rate of P 18,000.00 and is working Mondays to Fridays, 8 hours a day.

 The employee's Daily rate can be determined using the formula here.

 Daily Rate = (P 18,000.00 x 12) / 261 
Daily Rate = P 827.59

 Hourly Rate = P 827.59 / 8 hours
Hourly Rate = P 103.45

For Daily-Paid Earners

Example: Employee has a daily rate of P 550.00 and is working 8 hours a day.

Hourly Rate = P 550.00 / 8 hours
Hourly Rate = P 68.75

 Simple isn't it? Try to compute your hourly rate and share your thoughts in the comment box!

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