Saturday, March 23, 2013

NPS Exemption in Webpay (Sec 80 CCD(2)

NPS calculation is done in the following way in Webpay.

The NPS contribution by employer is exempted to the maximum of 10% of salary in previous year.

Webpay checks / calculates 10% of the salary (Basic + DA) and the exemption under section 80ccd(2) is limited to 10% of salary. Therefore you can insert the actual amount contributed by the employer under Section CCD(2) and Webpay would check the limit of 10% of salary.
 
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