bhardwaj_ch1
73

I do below 2 activities manualy for challans so pls let me know what formula to be put for pf pension fund
8.33% of basic <=6500 is 541.
if >=6500 then 541.
What is the correct formula to put in cell so that when pf salary is more then (a)6500 then 8.33% take 541 only.
(B) pf salary contribution from employer limit not higher then 6500- so for the same i need formula if employee's salary is higher then 6500 then also take 6500 only.

From India, Ahmadabad
Antima_hr
1

What is the correct formula to put in cell so that when pf salary is more then (a)6500 then 8.33% take 541 only.
the formula will be : =if(basic<=6500,8.33%*basic,541)
Note: on the place of basic u have to put the cell value of basic salary.
(B) pf salary contribution from employer limit not higher then 6500- so for the same i need formula if employee's salary is higher then 6500 then also take 6500 only.
for this you have to put below mentioned formula in PF contribution cell:
=if(basic<=6500,12%*basic,780)
so the maximum value will be counted on 6500 only i.e. Rs.780, doesn't matter if the basic is higher than 6500.
i hope this is clear to u.

From India, Delhi
bhardwaj_ch1
73

Antima,
I applied your formula with my own modification and found as i wanted.
I have put:-
=IF(G6<=6500*8.33%*G6,541)
6500 is for pf salary 8.33% contribution from employer's side rest adjusts to 3.67%.
And for (B), I wanted to know if salary for pf is more then 6500 the it takes 6500 only(for Empoyer's pf salary limit to pay pf contribution 3.67% and 8.33%);-
=IF(J36<=6500,J36,6500)
Thank you.
by the way what's meaning of your name Antima?

From India, Ahmadabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.