Declare Contribution to Pension Funds in Section 80CCC

Capture the employee contribution to the National Pension Scheme(NPS), other pension schemes under the central government, and additional contribution towards NPS in this section.

The following employee contribution toward pension schemes are considered:

1. 80CCC - Employee contribution to pension schemes other than NPS

2. 80CCD (1) - National Pension Scheme Employee Contribution: NPS is supported both for central and state government employees with fixed contribution rates. Employee contribution to other pension schemes in the central government are also considered.

3. 80CCD (1B) - Additional employee contribution toward NPS or other pension schemes in the central government are also considered.

This would be considered during the Income tax computation, which suppose to be within the overall ceiling of Rs.1.5 Lac in section 80CCE, and the employee’s contribution is eligible for the tax deduction up to 10% of salary (Basic + DA) in section 80CCD(1).

Note:

The total exemption for 80C + 80CCC + 80CCD(1) should not exceed the limit Rs.1,50,000.

Add Pension Fund Investments

Add the details of the pension fund investments

1. As a Payroll User, from the home page navigate to Payroll Calculation > Manage Person > Manage Calculation Card > Income Tax Deductions > Complete Investment Declaration > Deductions under Chapter VIA .

2. From the list of values, select Deductions under 80CCC or Deductions under 80CCD(1) or Deductions under 80CCD (1B)

   Declare the pension fund contribution as applicable in this page.

   S No.	Field	Necessity	Description
   1	Amount	Required	Enter the invested amount: Section 80CCC: Pension schemes other then NPS Section 80CCD (1): NPS or other pension schemes notified by the central government Section 80CCD (1B): Additional contribution NPS or other pension schemes notified by the central government

3. Click Submit.

Note:

Enter the total value if there are multiple investments made in this investment category.