Anu,
My solution to this in the past was to create a Custom Column in the EC that relied on Fiscal Year Start Date day of the week and then used CASE logic to calculate the week based on the start day of the week. The new column values were Week 1, Week 2, etc. Although they could have been anything desired. The assumption was that any days starting the new Fiscal Year that were before the Payroll week start day were week 52 of the previous Fiscal Year.
So if i sum the hours worked and filter by "Week 1", I know the hours worked that period.
Hope this helps, Jim