calculate years worked by 3% * salary in excel

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Guest

If the number of years employed is greater than or equal to 1, then the
contribution is equal to the contribution percentage (3%) * $50,000;
otherwise, the contribution is $0.
 
laurentium3 said:
If the number of years employed is greater than or equal
to 1, then the contribution is equal to the contribution
percentage (3%) * $50,000; otherwise, the contribution is $0.
Click to expand...

Do you really mean "3% * salary up to 3% * $50,000"?

That seems more consistent with the subject of your posting.
If that is what you mean, then building upon Gary Brown's reply:

=IF(YEARFRAC(hireDate, criterionDate) < 1, 0, 3%*MIN(salary, 50000))

You can use TODAY() in place of criterionDate. But that usually
does fit the HR requirements.
 
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