Calculating payables for employees on the Keka portal requires inputting formulae correctly. In this article, we will guide you on how to enter formulae using the 'Standard JavaScript' notation, follow the order of operations (BODMAS), and utilize nested IF statements for customized calculations.
When entering formulae, use symbols like '*' for multiplication and '/' for division. Enclose component names in square brackets, such as [CTC], and perform arithmetic operations outside these brackets.
Nested IF statements come in handy when payables vary based on different criteria. For example, a salary component's value may differ based on employees' salaries.
In Keka, nested IF statements enable you to apply conditional logic and calculate values based on multiple criteria. They allow you to create complex salary components within a single salary structure. Let's delve into their structure and explore examples to enhance your understanding.
Structure of Nested IF Statements:
Nested IF statements consist of multiple IF functions nested within one another. Each IF function acts as a condition, and the result of one IF statement becomes the condition for the next.
Syntax:
The general syntax for a nested IF statement is as follows:
=IF(condition1, result1, IF(condition2, result2, IF(condition3, result3, ...)))
Explanation:
Nested IF statements evaluate conditions hierarchically, facilitating intricate decision-making. If the first condition is met, the corresponding result is returned. Otherwise, the formula moves to the next IF statement, continuing the evaluation until a condition is met or a final result is reached.
Example:
Let's consider an example of calculating petrol allowance based on employee CTC (Cost to Company).
=IF([CTC]<1000000, 0, IF([CTC]<2500000, 120000, IF([CTC]<4000000, 180000, 240000)))
Explanation:
- If the CTC is less than _1,000,000, the petrol allowance is 0.
- If the CTC is between _1,000,000 and _2,499,999, the petrol allowance is _120,000.
- If the CTC is between _2,500,000 and _3,999,999, the petrol allowance is _180,000.
- If the CTC is equal to or greater than _4,000,000, the petrol allowance is _240,000.
By understanding nested IF statements and following these guidelines, you can accurately calculate employee payables on the Keka portal. Ensure your formulae are correctly written, consider the order of operations, and utilize nested IF statements when necessary. With these tools at your disposal, you can streamline and customize payables calculations for your employees efficiently.