Useful Info

Regular wages refer to the wages paid regularly and uniformly among the wages received by the worker. In simple terms, it means the portion that is paid consistently without variation each time, such as the basic salary received monthly on a fixed basis. These regular wages serve as the basis for calculating various allowances such as overtime pay and night work pay, making them very important.
Method for Calculating Regular Wages
The principle is to calculate regular wages on an hourly basis. This is because various allowances such as overtime pay are calculated on an hourly unit.
Step 1: Identify Items Included in Regular Wages
Basic salary: The most representative regular wage.
Fixed bonuses: Bonuses paid regularly annually or quarterly may be included in regular wages.
Position allowances, qualification allowances, etc.: Allowances paid regularly according to the position worked or qualifications held may also be included in regular wages.
Step 2: Convert Monthly Salary to Hourly Rate
Calculate monthly prescribed working hours: Generally, calculate the monthly working hours based on 40 hours per week. (However, prescribed working hours may vary by company.)
Calculate hourly regular wage: (Amount corresponding to regular wages in monthly salary) ÷ (Monthly prescribed working hours)
Example:
Monthly salary: 2,000,000 won
Monthly prescribed working hours: 209 hours (based on 40 hours per week)
Total amount of items included in regular wages: 1,800,000 won
Hourly regular wage: 1,800,000 won ÷ 209 hours ≈ 8,612 won
Step 3: Calculate Various Allowances
Overtime pay: Hourly regular wage × 1.5 × overtime hours
Night work pay: Hourly regular wage × 1.5 × night work hours
Holiday work pay: Hourly regular wage × 2 × holiday work hours