Introduction
With evolving tax regulations and compliance updates, it is important for organizations to keep their payroll and investment declaration settings aligned with the latest rules. In the recent update, the Children Education Allowance under the old tax regime has been revised to ₹2812.50 per month per child, replacing the earlier lower limit. Additionally, the allowance can be claimed for a maximum of 2 children per employee, as per applicable tax rules.
uKnowva HRMS makes it easy for administrators to update such configurations and for employees to declare allowances seamlessly through the system.
In this article, you will learn how to configure the updated Children Education Allowance amount and how employees can declare it correctly under the old regime.
Step 1: Update Children Education Allowance Configuration in uKnowva
To begin, navigate to your uKnowva HRMS instance and move to the top-right corner of the page. Click on your profile icon, which will open a drop-down menu containing various system-level options. From this list, select the uKnowva Configuration option to access the admin configuration panel.
Once you are inside the configuration section, locate the App Manager menu from the side navigation panel.
Clicking on this option will open a list of all available applications within your system. From this list, find and select the Investment Declaration App, which will open a configuration pop-up containing multiple tax-related settings.
Scroll through the configuration panel until you find the setting labeled Child Allowance for Children Education Allowance.
This field allows you to define the monthly allowance amount applicable as per the latest update. Here, enter the updated value of ₹2812.50 per month to ensure that the system calculates the correct permissible limits during declaration.
After updating the value, click on the Save button to apply the changes successfully.
Step 2: Declare Children's Education Allowance Under Old Regime
Once the configuration is updated, employees can proceed with declaring the allowance. To do this, go to the side navigation panel and click on the My Finance menu. From here, select the Investment Declarations sub-menu, which will open the declaration page for the selected financial year.
Switch to the Old Regime option and select the appropriate financial year for which you want to declare the allowance. In the particulars section, you will find the option labeled Sec. 10(14) Special Allowance for Child Allowance. Locate this row and click on the pen icon under the action column to open the declaration form.
On the declaration page, you need to enter the required details such as the number of children eligible for the allowance. Based on the number of children and the configured monthly allowance amount, the system will automatically calculate the Children Education Allowance as well as the Final Amount Permissible for 12 months. This automated calculation ensures accuracy and eliminates the need for manual computation.
After verifying the details and ensuring everything is correctly filled, click on the Save button to submit your declaration successfully.
Conclusion
That’s it!
You’ve now successfully configured and declared the Children Education Allowance in uKnowva HRMS.
By following this process, you ensure that the latest allowance limits are correctly applied and that employee declarations are accurate, compliant, and automatically calculated based on updated rules.
If you have any questions or need additional support, feel free to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..