Finance Calculators ▶ Time and a Half Calculator
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The time and a half calculator helps to find the overtime pay on the basis of a standard hourly rate.
“Time and half refer to an increased pay rate typically reserved for the overtime or for the extra working hours”
Time and half pay are offered to the employees for the overtime work done. Employees working more than 40 hours a week are considered overtime. For estimating the overtime rate of employees, companies usually offer time and half rate of the standard working hours.
You calculate time and a half rate by multiplying the standard rate by 1.5 per hour.
Time and half pay = hourly wage × (1.5) × overtime hours worked
Sometimes employers also offer double pay for extra hours, especially during the holiday. The double pay rate actually doubles the standard rate of the employees. It is easy to calculate the double time salary by multiplying the regular standard rate with “2”. It is handy to use a double time and a half calculator for calculating the double time of your salary rate.
Calculate time and a half salary rate of an employee if the regular salary per week of the employee is $400 per week.
The weekly salary per week = $400
The regular hourly rate = $400/40
The regular hourly rate = $10 Per Hour
The time and a half salary rate = $10(1.5) = $15
You can figure out the hourly time and a half salary rate with the time and a half calculator.
You can calculate time and a half pay by the time and half calculator by the procedure mentioned below:
Input:
Output:
It means the standard working rate is $15.75 and the time and half rate is $23.63. You can calculate the time and half relative to your standard rate with the time in a half calculator.
The time and a half pay apply when an employee exceeds 40 hours during a week or works more than 40 hours. The time and half rate depend upon the standard hourly rate of an employee.
| Standard pay | Time and a half | Double time |
|---|---|---|
| $25 per hour | $37.50 | $50 |
| $24 per hour | $36 | $48 |
| $23 per hour | $34.50 | $46 |
| $22 per hour | $33 | $44 |
| $21 per hour | $31 | $42 |
| $20 per hour | $31 | $42 |
| $19 per hour | $28.50 | $38 |
| $18 per hour | $27 | $36 |
| $17 per hour | $25.50 | $34 |
| $16 per hour | $24 | $32 |
| $15 per hour | $22.50 | $30 |
| $14 per hour | $21 | $28 |
| $13 per hour | $19.50 | $26 |
| $12 per hour | $18 | $24 |
| $11 per hour | $16.50 | $22 |
| $10 per hour | $15 | $20 |
From the source of hourly.io: Time and a Half, How to calculate Time and a Half?
From the source of hourly.io: Definition, What is Time and a Half?
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