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calculate years worked by 3% * salary in excel

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  1. #1
    laurentium3
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    calculate years worked by 3% * salary in excel

    If the number of years employed is greater than or equal to 1, then the
    contribution is equal to the contribution percentage (3%) * $50,000;
    otherwise, the contribution is $0.

  2. #2
    Gary L Brown
    Guest

    RE: calculate years worked by 3% * salary in excel

    =IF(INT(YEARFRAC(starting date,current date))>=1,50000*0.03,0)

    HTH,
    --
    Gary Brown
    gary_brown@ge_NOSPAM.com
    If this post was helpful, please click the ''Yes'' button next to ''Was this
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    "laurentium3" wrote:

    > If the number of years employed is greater than or equal to 1, then the
    > contribution is equal to the contribution percentage (3%) * $50,000;
    > otherwise, the contribution is $0.


  3. #3
    joeu2004@hotmail.com
    Guest

    RE: calculate years worked by 3% * salary in excel

    "laurentium3" wrote:
    > If the number of years employed is greater than or equal
    > to 1, then the contribution is equal to the contribution
    > percentage (3%) * $50,000; otherwise, the contribution is $0.


    Do you really mean "3% * salary up to 3% * $50,000"?

    That seems more consistent with the subject of your posting.
    If that is what you mean, then building upon Gary Brown's reply:

    =IF(YEARFRAC(hireDate, criterionDate) < 1, 0, 3%*MIN(salary, 50000))

    You can use TODAY() in place of criterionDate. But that usually
    does fit the HR requirements.

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