OT Pay Formula:
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OT Pay MOM refers to the calculation of overtime pay according to Singapore's Ministry of Manpower (MOM) regulations. The standard overtime rate is 1.5 times the hourly basic rate of pay.
The calculator uses the OT Pay formula:
Where:
Explanation: The calculation follows Singapore MOM guidelines where employees are entitled to at least 1.5 times their hourly basic rate for overtime work.
Details: Accurate OT pay calculation ensures compliance with Singapore labor laws and proper compensation for employees working beyond normal hours.
Tips: Enter the number of overtime hours worked and the employee's hourly basic rate. Both values must be positive numbers.
Q1: What is the standard OT rate in Singapore?
A: The standard overtime rate is 1.5 times the hourly basic rate of pay, as stipulated by MOM.
Q2: Are there limits on OT hours in Singapore?
A: Yes, the maximum allowable OT hours are 72 per month under the Employment Act.
Q3: How is the hourly rate calculated for monthly-rated employees?
A: For monthly-rated employees, hourly rate = (12 x monthly basic rate) / (52 x 44).
Q4: Does this calculator include rest day or public holiday pay?
A: No, this calculator only computes standard overtime pay. Different rates apply for rest days and public holidays.
Q5: Is OT pay taxable in Singapore?
A: Yes, overtime pay is considered part of taxable income in Singapore.