EPY: Does the Delivered FLSA Overtime Functionality Support a Salaried Employee Daily Compensation Rate?
(Doc ID 1448380.1)
Last updated on DECEMBER 10, 2019
Applies to:PeopleSoft Enterprise HCM Payroll for North America - Version 8.9 and later
Information in this document applies to any platform.
How can you setup the system to calculate an FLSA rate for overtime for employees paid a daily rate?
- An employee receives a day rate of $500 and works for one week
- The employee works 13 hours on Monday, 10 hours on Tuesday, 16 hours on Wednesday, and 8 hours on Thursday (47 total hours for the week)
- The employee receives $2000 for the week ($500 a day, for 4 days)
- To determine the regular rate, divide $2000 by 47, to get a regular rate for this week of $42.55
- Overtime is calculated by multiplying half o the regular rate by the hours worked over 40, which is $21.28 x 7, for a total of $148.96 in required overtime payments for the week.
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document