Hello, Can anyone help me make an automated Excel spreadsheet to calculate the interest on every month's contributions? The compound interest is calculated once at the end of the financial year by taking the monthly contributions.
Here the only input value is Basic (I column) and the Interest Value for that year. So if we input those two values the output values should be as in below sheet.
J column will be derived from basic i.e. 12% of basic.
K column will be 3.67 % of basic value
L column will be 8.33 % of basic value (No need to calculate the interest on this column)
Here the only input value is Basic (I column) and the Interest Value for that year. So if we input those two values the output values should be as in below sheet.
J column will be derived from basic i.e. 12% of basic.
K column will be 3.67 % of basic value
L column will be 8.33 % of basic value (No need to calculate the interest on this column)
PF.xlsx | |||||||||
---|---|---|---|---|---|---|---|---|---|
F | G | H | I | J | K | L | |||
4 | |||||||||
5 | Particulars | Employee Balance | Employer Balance | Pension Balance | |||||
6 | OB Int. Updated upto 01/04/2018 | 33,325 | 10,191 | 21,416 | |||||
7 | Wages | Contribution | |||||||
8 | Wage Month | Basic | 12%Basic | 3.67%Basic | 8.33%Basic | ||||
9 | Mar-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
10 | Apr-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
11 | May-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
12 | Jun-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
13 | Jul-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
14 | Aug-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
15 | Sep-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
16 | Oct-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
17 | Nov-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
18 | Dec-2018 | 12,685 | 1,522 | 465 | 1,057 | ||||
19 | Jan-2019 | 14,548 | 1,746 | 534 | 1,212 | ||||
20 | Feb-2019 | 14,548 | 1,746 | 534 | 1,212 | ||||
21 | Total Contributions for the year [ 2018 ] | 18,712 | 5,718 | 12,994 | |||||
22 | Total Transfer-Ins/VDRs for the year [ 2018 ] | 0 | 0 | 0 | |||||
23 | Total Withdrawals for the year [ 2018 ] | 0 | 0 | 0 | |||||
24 | Int. Updated upto 31/03/2019 | 3,608 | 1,103 | 0 | |||||
25 | Closing Balance as on 31/03/2019 | 55,645 | 17,012 | 34,410 | |||||
Sheet1 |