Weekly Earning Paycheck Calculator with Overtime Rates
   AJ Design Software




Weekly Paycheck Calculator

Career - Payroll - Earning - Overtime

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Description:
This calculator determines the gross pay or earnings for a week. It does calculate net pay. Net pay would deduct taxes, Social Security and Medicare, local, state and federal taxes, health insurance and retirement savings from your paycheck and would be difficult to compute.

The calculator includes rates for regular time and overtime. Pay rates include straight time, time and a half, double time and triple time. In addition, a rate of nothing was included for people who work for free for part of the week. For example, some professionals have to work several hours for free, professional time, before straight time or overtime is earned. Check with your company for policies and laws to determine your rates.

Two overtime rates are included for people being paid different overtime rates depending on how many hours are worked. For example, a person is paid time and a half for the hours worked between 40 and 46. After 46 hours they are paid overtime.

A graph or plot is included to give a visual representation of the earning and pay rates.

Directions:

Parameter
Notes
Hourly rate
This the the amount of money you are paid or compensated per hour.
Pay rates
Choices include nothing (professional time), time and a half, double time and triple time.

Regular - This is rate you make during normal hour.
Overtime 1- This is the rate you make when working overtime.
Overtime 2 - Use this as a second overtime time rate when overtime is variable. Select the box next to "Overtime 2" to enable these rates. The minimum Overtime 2 can be set is 1 hour above Overtime 1.
Hours worked
This is the number of hours worked during the week.

Solution
Notes
Regular
Provides the normal pay rate, hours worked and earrings.
Overtime 1
Provides the Overtime 1 pay rate, hours worked and earrings.
Overtime 2
Provides the Overtime 2 pay rate, hours worked and earrings.
Total Provides the average pay rate, total hours worked and the total pay. Note, the average pay is what you actually earn per hour.