Configure NPS

HRStop lets you, as an admin, configure NPS. Employees can declare an amount to contribute to the National Pension Scheme. For more details, see NPS. You have to declare the component in the salary template so that employees can contribute:

Follow the steps below to configure Employer NPS in the salary template:

1. Navigate to Control Panel → Payroll → Salary Template.
2. Click Next to go to the Pay Components section.
3. In the Deduction Components subsection, define the components for Employer NPS — with a maximum limit of 14% or 10% of Basic Salary, as per your requirement.
4. Select the appropriate configurations for Value, Pay Frequency, Prompt, etc.
5. Proceed to the Map Component section and assign the correct category:
   • Map Employer NPS against the respective components.
6. Click Next to complete the setup process.

Once configured, the system automatically displays the eligibility on the Income Tax Computation page based on the entered data.

Note: Employees can now declare the amount they want to contribute to NPS. The employer can also declare it on the employee's behalf.