The National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme initiated by the Government of India. It is designed to enable systematic savings during the working life of an individual.
To enable/disable IT declaration items, the admin must perform the following actions:
From the greytHR Admin portal, navigate to the Settings icon > System Settings > Income Tax > IT Declaration. The IT Declaration page opens.
In the Category dropdown search box, enter Deductions Under Chapter IV A. A list of items appears.
Under the Description column, select the IT declaration item Employer Contribution to NPS by clicking the checkboxes available under the Visible column.
Click Save to enable/disable IT declaration items. A success message appears.
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Documentation - To read more about Income Tax, click here.
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