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      Creating a Formula to Calculate Length of Service Bonus for This Employer
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Creating a Formula to Calculate Length of Service Bonus for This Employer

Creating a Formula to Calculate Length of Service Bonus for This Employer

Creating a Formula to Calculate Length of Service Bonus for This Employer

Example:

Let us say that you want to account length of service from January 2001 so that every employee is granted a 0.5% increase on length of service bonus for each additional year. In addition, for women above 50 the length of service bonus is increased by 1% for each additional year.

 

 

Create a formula for calculating length of service for this employer valid for the entire company.

Select Settings l Program l Administration Panel. Administration Panel is opened where you select Settings l Program Parameters l Personnel l Payroll l General | Miscallaneous | Length of Service Bonus panel (Here you can specify formula to calculate length of service bonus).

 

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Double-clicking For this Employer opens register for Formulas for calculating length of service bonus for this employer.

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Enter or select January 2001 in the Period From (for working hours) field. The formula applied for calculating length of service for this employer will be valid from then on.

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Only those periods (year plus month) appear in the dropdown which have been previously entered in the Average Salaries register.

 

 

Enter formula for calculating length of service bonus for this emplyoer in the Formula field:

[#SPL#="M":(#ZVVP#\360)*0.5][#STR#>588:((#ZVVP#\360)*0,5)+((#STR#-588)\12)] (#ZVVP#\360)*0.5

 

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The following criteria were set:

  • Criteria 1 [#SPL#="M":(#ZVVP#\360)*0.5]That is, if male, length of service bonus will increase by 0.5% for each additional year,

if the above condition is not met then the following is considered

  • Criteria 2 [#STR#>588:((#ZVVP#\360)*0,5)+((#STR#-588)\12)]: if age is greater than 49 years (49 years * 12 months = 588), length of service bonus is increased by 1% for each additional year

if the above conditions (criteria 1 and 2) are not met the following will be considered

  • Value (#ZVVP#\360)*0.5: for women younger than 50 years length of service bonus increases by 0.5% for each additional year.

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For more information on use of logical expressions in formulas see: using logical expressions in formulas.

 

 

Having entered formula click 072119.gif to close the window Formula for calculating length of service bonus for this employer. The formula is automatically copied to General | Miscallaneous | Length of Service Bonus panel - For this Employer in Personnel | Payroll.

 

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