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Need assistance with calculation for leave loading
I'm working on a salary budget template which takes leave loading into
consideration and having some difficulties trying to figure out how to do the calculation if the total leave exceeds blocks of 4 weeks (20 working days). I've got two formulas to work out leave loading. The constants a entitled to 4 weeks a year off (20 working days) Leave Loading rate is 17.5% Maximum leave loading payable on four weeks is $1,294.30 The first (simple) is: =(Base Salary * No. of Weeks Off / 52 * Leave Loading Rate) The second is: =((Base Salary / No of Work Days**) * No of Days off * Leave Loading Rate) ** = Networkdays(1/7/2009,30/06/2010) To figure out whether the "calculation" exceeds the maximum rate is.... =If ((leave loading calc < leave max,leave loading calc, leave max) This is ok if an employee takes 4 weeks or less paid leave but if they take more leave (accrued over the years) which is where I'm now struggling........ The award states that the manimum annual leave loading that may be paid on four weeks annual leave is $1,294.30 but if the employee takes 8 weeks paid leave then the same calculation needs to be done twice to determine whether the first lot of 4 is less than or greater than and again for the next 4. I'm struggling to figure out how to achieve that. Any suggestions? |
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