Re: NPS Calculation in Payroll

Hi,

You can refer the NPS note with sample calculation.

I guess the calculation as given below:

a) 10% of NPS Basis (/143)      = X

b) NPS Contribution (24k+50k) = 74,000

c) 80c (LIC + PF amt)                = Y

d) Remaining                             = 30,000

Total Deduction=

Y[80c]  + (Min of a,b,d) [80ccd1]  + Z [80ccd1b]

Y         +  30,000 (/3I7)                 + 44,000 (/3I9) 

Please provide the following WT values for understanding the calculation:

1) /143 & /144

2) PF contribution & other 80c contributions (for getting value of Y given above)

Here:

/3I1 = Sec.80 deduction includes all the above & other components also

(which you are mentioning it is 2,42,000).

Please show the output of INS80 & INS88 so that we can clearly understand the logic.

regards,

Bala.