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Combining functions: Subtraction and IF

I am trying to combine 2 functions. I need the formula to first calculate this:
=C3-K3.
Based on the value returned i need to combine it with the formula below.
=IF((E3< 0),"On Time")

I want it to return "On Time" if the value of the first subtraction yields 0.
if the returned vale is 0, I need it to return the diff of the original
subtraction.
Thanks

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