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Basic Fund- 5% of basic pay but should not be grater than 1000

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Excel is the most widely used tool when it comes to dealing with huge data sheets. you can Calculate Basic Salary, Calculate Allowances of Each Employee or Gross Salary for  Employee. 

However, Today we will learn how to deduct a basic fund from basic payable salary amount. but, here is a another terms for that, deducted Basic Fund amount should not be grater than 1000.

Let's check how can we do that, 

First of all we need to create data sheet like below. 

we have a data sheet of the Basic Salary of the employers of a company and the percentage of Basic Fund which will denote the Basic Salary of the employees.

Now, let’s start the procedure. add the following formula to the cell where you want to get the result.


That’s how we can calculate the percentage of any category.

Now, we need to create a rules for should not be grater than 1000

Go to the cell you want to get the result and apply the following formula:

=IF(C3*5% >= 1000,1000,C3*5%)

Enter the  formula And drag the formula to every cell you want to get the output:

Now you will get 1000 maximum when its will be greater then 1000. 

You can download our excel file to view the code.


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