The image shown below is the Formula Editor of Timelabs Payroll. User can apply formula on fixed Salary Heads as well as on Additional Earning/Deduction Heads. User needs to create the formula in 'Formula Editor' using the calculator and the variables available there.
Let us understand Payroll formulas with some examples:
<= This represents 'Less than or equal to' condition
< This represents 'Less than' condition only
=> This represents 'Equal to or greater than' condition
> This represents 'Greater than' condition only
== This represents 'Equal to' condition
? This represents 'Then'
: This represents 'Otherwise' or 'Else' (This is use to separate two conditions)
( ) This is used for grouping a calculation
+ Plus the value
- Minus the value
* Multiply the value
/ Divides the value
% Represents percentage
Example 1:
Present<=26?0:500
Explanation : When present is less than or equal to 26 then 0 otherwise 500
Example 2:
({OT}<=210?0:({OT}<=450?240:480))
Explanation : If OT less than or equal to 210 then 0 otherwise if OT less than or equal to 450 then 240 otherwise 480