Design an interface calledPayable in Java with the following methods:$1.$ double calculatePayOan employee.$-$ This method should calculate and return the amount of pay forNow, create two classesHour LyEmployee and$($SalariedEmployee that implementthePayable interface. Implement the calculatePay method in each class to represent the pay calculation for art hourly employee and a salaried employee respectively.For the HourlyEmployeeclass: It should have instance variables for hourly wage and hours worked. Implement the calculatePaymethod to calculate the pay as the product of hourlywage and hours worked.For the SalariedEmployee class: It should have an instance variable for the annual salary. Implement the calculatePay method to calculate the pay as the annual salary divided by the number of pay periods in a year $($e$.$g$.,12$ for monthly pay$).$In main. Instantiate objects of HourlyEmployee andSalariedEmployeeattributes, and print the amount of pay for each employee using the calculatePayO method