Need Help with Excel Formula for Calculating PF Based on Gross Salary?

I just want to know the Excel formula for the details given below. If the gross salary is greater than 6500, then PF should be 780, and if it is less than 6500, the PF amount should be 12% of the gross pay. I need the formula in Excel... please help me out.

Regards

Please use the following formula to resolve your query:

=IF(G4<=6500, G4*12%, 0)

Here, G4 represents the cell where the actual calculated basic amount is located.

Thank you.

Dear Hemanth, I tried your formula, but I didn't get the exact output. Please find the attachment and revert to me.

Regards,
Prabhakaran

Just make a small change in Hemanth's formula. Since you want the amount to be Rs. 780/- if the basic is above 6500/-, replace the zero in the formula with 780/- and check. The IF statement will check the basic amount—if it is less than or equal to 6500/-, then it will produce 12% of it in the cell where the formula is keyed in. Otherwise, (i.e., when the basic is above Rs. 6500/-), it will simply fetch 780/-.

Regards,
Raja C S N
Sr. Trainer / Consultant / Content Creator, Chennai.

BTW, if you are in Chennai, you can get my personal services on all your Excel-related queries at a reasonable cost, if you are interested.

Correction Needed for Excel Formula

The formula needs to be amended. The current formula is: `=IF(N5<=6500, N5*12%, 0)` - which is incorrect. This calculation should be based on the actual basic salary, not on the gross salary. The correct formula on the same sheet could be: `=IF(F5<=6500, F5*12%, 0)`. Please double-check and verify this calculation.

Please find attached the file as per the requirements.

Feel free to reach out in case of any queries.