You need to know the number of hours that were paid to each employee during the specified periods. An employee that on average was paid 40 hours or more a week counts as 1.0 FTE. One employee cannot exceed 1.0 FTE— overtime does not apply. For example, an employee who was paid 45 hours per week on average during the covered period would be considered to be an FTE employee of 1.0.
An employee that was paid for less than 40 hours per week can be calculated by dividing their average weekly hours worked by 40. For example, if an employee was for paid for 30 hours per week on average during the covered period, the employee could be considered to be an FTE employee of 0.75.
Add your full-time FTE and your part-time FTE to get your total FTE figure. For example, if you have 3 employees who each worked 20 hours a week, they would collectively count as 1.5 FTE.
For simplicity, when completing the forgiveness application, the SBA has alternatively allowed you to use 1.0 for any employee that works more than 40 hours a week, and 0.5 for all other part-time employees. You may use either method of calculation, but the method must be consistently used.