Every business is intended to maximize its profit. To increase the profit, it is the requirement of every business to hire a number of people. Every person who is hired by a company is required to perform his duties well to be paid.
The HR department of the company pays every employee who works for the specific number of hours. Some companies also provide an opportunity to their employees to work some extra hours to earn extra money.
When the employee is in need of money, he can work some extra hours to get paid more. Those extra hours of work are considered as overtime of the employee.
The overtime is very important to be recorded since the salary is paid based on those extra hours. The salary may be fixed for a month but the amount paid for overtime totally depends on the number of hours given by the employee.
Paying the employee according to the working hours he has given to the company encourages him and makes him work hard to make the company better than before.
Giving some extra hours to the company is not only beneficial for the employee but also for the company. Every company device some rules and regulations to manage the entire process of overtime calculation
The excel overtime record sheet for employees has been found to be a very effective tool for time management. The worksheet enables a company to pay the employee on time that ultimately encourages the employee.
Key elements of overtime record sheet:
This sheet includes all the necessary details about the overtime. The main details about overtime are:
- The name of the employee
- Employee ID number of the employee
- Designation of the employee
- Department of the employee
- Dates of overtime
- Total hours worked as overtime
- Overtime payment
- Payment per hour
It is important to maintain the recording sheet of overtime regularly. This sheet is maintained and updated by the head of HR department and then it is considered to be completed.
Overtime Record Sheet template
Format: Microsoft Excel 2007-2013
File Size: 20 KB