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While registering, a Subscriber will provide his/her name & Permanent Account Number (PAN) details which will be validated online with the Income Tax Department. Subscriber will then select the Bank (through which KYC verification to be done), fill up the personal details and upload photograph & signature.
Guidelines for Online Registration NPS Trust welcomes you to ‘eNPS’ ,which will facilitate:- ➤ Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) ➤ Making initial and subsequent contribution to your Tier I as well as Tier II account To open an Individual Pension account online. ✔ You must […]
With the provision in the recent budget for allowing an additional deduction of Rs. 50,000/- in respect of contribution towards NPs, the interest of the taxpayers who till now did not have an NPS account has gone up substantially. People have started making enquiries and I have received a few emails seeking further guidance and clarification on NPS.
One my colleague Susan who is retiring this year was advised to deposit Rs. 50,000/- in NPS account this year to reduce her tax liability approached me for guidance. Based on my interaction with her I realised that the people generally do not know much about the NPS scheme in general and about this additional deduction of Rs. 50,000/- in particular. So I decided to write this article to explain both the points.
These regulations shall be applicable to the—NPS-Lite under National Pension System, (also referred to as NPS-Swavalamban), which is a low-cost, feature optimized group model, aimed at unorganised and economically disadvantaged sections of the society.
Mos(Finance) Jayant Sinha Emphasises the need for Inclusion of Pension for Every Class of the Society; Highlights the Role of Pension Funds as a Source of Long Term Funds for Infrastructure Development and the Need to have Increased Pension Flows in the Debt and Equity Markets to Reduce Volatility; Conference on National Pension System Held on the Theme of
New Website of National Pension System Trust Launched; To Provide Proper and Effective Information Dissemination to the Stakeholders and Provide Ease of Access to Various Beneficiaries Under NPS The National Pension System Trust has been set-up and constituted by Pension Fund Regulatory Development Authority (PFRDA) for taking care of the assets and funds under the […]
Since April 2012 from about 11.5 Lakh to 23 Lakh:Chairman,Pfrda ; Number of States Joining NPS has Increased from 12 to 26 ; Pfrda Working Towards Notification of Various Regulations in Respect of Efficient Management of Funds, Seamless Grievance Handling and Systems for Risk Mitigation and Containment Among Others
The National Pension System (NPS) reflects Government’s new effort to find a suitable & sustainable solution to the problem of providing adequate retirement benefits to the people at large. As a first step towards initiating this, Government of India moved from a defined benefit pension to a defined contribution based pension system by making it mandatory for its new recruits (except armed forces) with effect from January 1st, 2004.
Where an assessee, being an individual employed by the Central Government on or after the 1st day of January, 2004, has in the previous year paid or deposited any amount in his account under a pension scheme as notified vide Notification No. F.N. 5/7/2003-ECB & PR, dated 22-12- 2003, he shall be allowed a deduction in the computation of his total income, of the whole of the amount so paid or deposited as does not exceed ten per cent of his salary in the previous year.
