How to display annual GPF value in Form 16

[Former Member]

Dear Experts,

In Form 16 how to display Annual GPF Value under Section 80C deductions instead of monthly value?

example

If an employee got monthly GPF deduction 1000/- monthly it will be 12000/- yearly right? This 12000 amount need to display in form 16.

appreciate quick replay

Regards,

Sreenu

[former_member140346]

Hello Sreenu,

GPF or General Provident Fund is basically the Provident Fund account for Govt. employees.  As such, you can use Infotype 0587 for the same just like you would use it for normal Provident Fund.  You would just need to set up a separate Trust for it as per the Govt. guidelines in the V_T7INF* series of views.

When you use Form 16 after using Infotype 0587 for GPF, the value for the deductions would be shown under Point 9 as Employee Provident Fund.

Best Regards,

Aman

[Former Member]

Hi Aman,

Thanks for your response.

Here actual GPF value calculated based on basic pay and grade pay.

GPF=6% value on Basic pay+grade pay

for above calculation the system is configured like GPF wage type maintained in IT0014 and assigned in V_T7INIA table(section 80C table) at investment code 8.

when I run payroll GPF value deducted correctly monthly wise.

But in every month payroll aggregate chapter VI and FORM 16 should have yearly wise value instead of monthly?

Regards,

Sreenu