NPS calculations

[Former Member]

Hello Experts

We have below values in RT tables

PF

3,696.00 (monthly) *12=44,352.00

NPS basis for all wage types

30,800 (all wage types)*12 =369600 (10% of this 36960)

NPS amount entered = 71000 in Infotype 585

We are getting in Payslip Chapter6  is 155,352.00

But my finance team claiming that  PF+NPS amount ( 44352+71000) should be 115352.

Need clarifications on this like how this is calculated in different scenarios

Reg

K

[chetan13 · Accepted solution]

Please check if SAP note no. 2168787 - Additional Deduction Under Section 80CCD(1B)

is present. If yes, then check the calculations as per the cases given in this note.

Regards

Chetan Bajaj

[Former Member · Accepted solution]

Hello Chetan

Yes, Got it to some extend. But need to know what is about PF in below Case from the note

Need to get clarified on this.

[chetan13 · Accepted solution]

PF will come under 80C

If you see the total deduction in your screenshot, here it is LIC but this can be PF as well.

In this case, there is no PF cont.

Regards

Chetan

[Former Member · Accepted solution]

Hello Chetan

We received below calculation from Finance stating calculation in Payslip for Chapter 6 (By Comparing scenario 2 from the note) is wrong.

Pls let us know in details on this.

Below are RT table results

[chetan13 · Accepted solution]

Provide screenshots of /3I1 from cluster.

Also screenshots of IT585, 586 ...

Regards

Chetan

[jayantvenkata · Accepted solution]

Hello

Kindly check for the difference of the additional rs.40000/- which is coming from /3I2 which is Rs.84352.00 and the PF contribution /3F6 which is rs.44352.00

There has been  some additional contribution done by the employee as part of section 80c contributions.

Check infotype 0585/infotype 0586, where the additional Rs.40000.00 is done.

A extract of the calculation with /3I2 has the correct values shown.

Hope this helps , or do get back incase you have further queries.

Thanks and Kind Regards

Ramana