2 new pension scheme

new pension scheme articles

Impact of SC Judgement Dated 04.11.2022 on Higher Pension With Illustration

Explained Impact Of Supreme Court (SC) Judgement Dated 04.11.2022 On Higher Pension (With Illustration of Estimated Revised Pension and Differential Amount Payable) The story so far: Thousands of working individuals who are eligible for pension under the Employees’ Pension Scheme-1995 (EPS-1995) of the Employees’ Provident Fund Organi...

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Posted Under: Corporate Law |

NPS a good savings instrument with steady returns & Income Tax Benefits

National Pension System (NPS) is still not very popular amongst individual assessees for the simple reason that people are not familiar with the advantages of NPS. It is one of the best way of saving, steady returns & Income Tax benefits....

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Posted Under: Corporate Law |

NPS: Tax provisions on investment & Withdrawal

NPS (National Pension System) : Tax provisions on investment & Withdrawal Investment Deduction: –Section 80CCD (1): Employee Contribution up to Rs. 1.5 lac under Sec 80CCE -Section 80CCD (1B): Employee Contribution Rs. 50,000 over and above the deduction of Rs. 1.5 lakh -Section 80CCD (2): Employer Contribution up to 10% of s...

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Posted Under: Corporate Law |

Key Points to Remember While Investing in NPS

♦ What is NPS? It stands for National Pension System. NPS is regulated by PFRDA, with transparent investment norms and regular monitoring and performance review of fund managers by NPS Trust. Subscribers can choose their own investment options and pension fund and see their money grow. ♦ Investment Choices Available in NPS: NPS offers...

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Posted Under: Corporate Law |

Payment of Pension to Government Pensioners – FAQ

(Updated as on April 9, 2021) Q 1. Scheme for Payment of Pension to Central Government Pensioners by Authorised Banks Ans. Payment of pension to retired government employees, including payment of basic pension, increased Dearness Relief (DR), and other benefits as and when announced by the governments, is governed by the relevant schemes ...

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Posted Under: Corporate Law |

Government needs to make NPS fair for all categories of subscribers

The union budget will be presented on 1st February so I thought of making some suggestions to remove some anomalies and inequalities in the Income Tax Act provisions to make the NPS system fair and little better for everyone.  Here are my suggestions. Uniformities of tax treatment of retirement corpus of Tier I of NPS […]...

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Employee Pension Scheme for International Workers

With the globalization of Indian economy and increase in development of international trade the movement of workers across the world has also been increased. Social security is an important aspect while structuring the international assignments for the employees. Any social security benefit payable in the host country may become an added ...

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Posted Under: Corporate Law |

Opening of Individual Pension Account under eNPS

To create a retirement corpus one of the secured way is National Pension Scheme (NPS). Resident as well as Non- Resident can open this account. Do you want to know how to start contributing to NPS without going anywhere physically? Let’s find the answer below. There is an eNPS facility which you can use to […]...

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Posted Under: Corporate Law |

Retirement Saving – National Pension System (NPS)

NATIONAL PENSION SYSTEM (N.P.S.) BACKGROUND The National Pension System is a defined contribution scheme launched by Pension Fund Regulatory & Development Authority (P.F.R.D.A) in 2004 for government employees & subsequently in 2009 for all citizen. The eligible subscribers are allotted a 12 digit unique Permanent Retirement Accou...

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Posted Under: Corporate Law |

How are withdrawals from Tier II NPS account should be taxed

Before we discuss the taxation rules for Tier II account under NPS let me briefly touch upon the types of accounts under NPS. One can have two type of account under NPS. First is the Tier I account which is the main account and is also called pension account. The second is called Tier II […]...

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Posted Under: Corporate Law |

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