No. As over time earning is not a regular and continuous payment, it cannot be considered while calculating the wage limit. However, while considering the gross for contribution, this has to be included.
For example, let us assume an employee gets a salary of Rs. 20,000. As per the revision, this employee will be covered under the ESI Scheme. Next, let us assume that the employee has worked for overtime on a particular month. Hence, based on the overtime the monthly wage has turned out to be Rs. 24,000 for that particular month. So in such a scenario, Rs. 24,000 will not be considered while calculating the wage limit for the ESI Scheme. But, this amount will be considered while calculating the gross for the contribution.