Hello,
I need help with putting together formulas in to calculate severance like this.
Common Law = amount of weeks pay depending on length of service
Length of Service
Weeks of Severance Pay
<1 year
4 weeks
<2 years
8 weeks
<3 years
12 weeks
<4 years
16 weeks
<5 years
20 weeks
<6 years
24 weeks
More than 6 years
28 weeks
and then
first name, last name, DOB, Age (formula that calculates age), start date, end date, length of service (formula that calculates), salary, weekly salary, daily salary,weeks of pay they are entitled for according to law, and then there severance pay
I need help with putting together formulas in to calculate severance like this.
Common Law = amount of weeks pay depending on length of service
Length of Service
Weeks of Severance Pay
<1 year
4 weeks
<2 years
8 weeks
<3 years
12 weeks
<4 years
16 weeks
<5 years
20 weeks
<6 years
24 weeks
More than 6 years
28 weeks
and then
- An employee has 16 weeks of severance pay due to them.
- The employee's current monthly salary is $3,479.00
- How much severance pay is due to the employee?
Calculation:
16 weeks of severance pay * 40 hours = 640 total hours
$3,479.00 / 174 = $19.99 an hour
640 total hours * $19.99 (hourly rate) = $12,793.60 of severance pay due to the employee
first name, last name, DOB, Age (formula that calculates age), start date, end date, length of service (formula that calculates), salary, weekly salary, daily salary,weeks of pay they are entitled for according to law, and then there severance pay