Please note: The Pay Rate Calculator is not a substitute for pay calculations in the Payroll Management System. For instance, for Hourly Rate $26.00, the Premium Rate at Double Time = $26.00 X 2 = $52.00 For instance, for Hourly Rate $26.00, the Premium Rate at Time and One-Half = $26.00 X 1.5 = $39.00įor premium rate Double Time, multiply your hourly rate by 2. Regular Hours per Year = Regular Hours per Day X 261 Work Days per Year: Hours/Weekįormula: Hourly Rate = Bi-Weekly Gross / (Hours/Year)Įxample: if your Annual Salary is $50,000 and you work 40 Hours/Week (or 2,088 Hours/Year), your Hourly Rate = $50,000 / 2,088 = $23.95 Calculating Premium Ratesįor premium rate Time and One-Half, multiply your hourly rate by 1.5. Example: if your bi-weekly gross is $1,917.81, your Annual Salary = $1,917.81 / 14 days X 365 days = $50,000Ĭalculating Hourly Rate Using Annual Salary.Formula: Annual Salary = Bi-Weekly Gross / 14 days X 365 days.365 days in the year* (*please use 366 for leap years).Example: if your annual salary is $50,000, your Bi-Weekly Gross = $50,000 / 365 days X 14 days = $1,917.81Ĭalculating Annual Salary Using Bi-Weekly Gross.Formula: Bi-Weekly Gross = Annual Salary / 365 days X 14 days.365 days in a year* (*please use 366 for leap years).Your Double Time Rate Calculated: Reset Calculating Bi-Weekly Gross Using Annual Salary The current calculator is set for a leap yearĮnter your regular annual salary (numerals only) to calculate your bi-weekly gross.Fiscal Year 2024 beginning July 1, 2023, is a leap year.The City's payroll system is based on the fiscal year covering the period July 1 through June 30.Your bi-weekly gross changes slightly in the first pay period of a leap year and in the first pay period after the end of a leap year, due to the one day difference. Your annual salary remains the same whether it is a leap year or not. In leap years, the calculation of your bi-weekly gross is based on 366 days instead of regular 365 days. How Leap Year Changes your Bi-Weekly Gross Your bi-weekly pay is calculated by multiplying your daily or hourly rate times the number of days or hours you are paid. If you are paid on an hourly or daily basis, the annual salary calculation does not apply to you. ![]()
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