It is important to take note that hourly rate vs monthly rate only differs in the way it is calculated.
We recommend choosing only 1 method to avoid confusion.
Monthly rate follows the monthly basic pay, calculating the equivalent daily rate, and adding or subtracting special instances.
Hourly rate on the other hand calculates based on instances such as the employee went to work and what type of multiplier is to be used.
The main difference for employees when using hourly rate is that undertime has no effect on their payroll since it calculates based on their presence.
While monthly pay is paid in full for the month and focuses on checking their absences.
As for OT, ND, and the other types of multipliers; same behavior and multipliers can be observed unless 365 or 392.5 equivalent daily rate is used.