How to declare NPS Declaration

NPS DECLARATION

How to declare NPS Declaration

Step-by-step instructions for employees to declare National Pension Scheme contributions for tax benefit under Section 80CCD.

How-to

👥 WHO USES THIS

▸Employees contributing to NPS

▸HR guiding NPS enrollees

▸Payroll admins supporting declarations

✨ WHAT YOU'LL ACHIEVE

▸Declare NPS contributions accurately

▸Claim Section 80CCD deductions

▸Submit PRAN and proof details

As an employee navigate to My Finance → My Declarations → NPS Declarations.

• Click the Update button available on the right-hand side.

• Enter the Employer Share percentage as per your chosen tax regime:
  Old Regime – You can declare up to 10%.
  New Regime – You can declare up to 14%.
  (The system will not allow you to enter more than the permitted limit for your regime.)

• The system will allow you to declare the percentage with up to two decimal places. Eg: 8.15% percentage as Employer share.

• After entering the percentage, click the Preview.The monthly and annually calculated amount will be displayed, then click Save button.

• Once saved, the Monthly and Annual contribution amounts will be calculated automatically and reflected in your Salary Details.

• The updated percentage will be automatically reflected in your Salary Details.

• As a payroll admin, you can update the FBP components for employees in the Salary Details module.To do this, navigate to: My Team Finance → Salary Info → Salary Details
  

Fig: NPS Declarations

Fig: NPS Declaration- Preview

Fig: View- NPS Declaration

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