NPS

Steps to Join or Register for NPS Online

Finance - NPS Registration using PAN (KYC verification by Bank/Non-Bank POP) 1. You must have a ‘Permanent Account Number’ (PAN) 2. Bank / Demat /Folio account details with the impaneled Bank/Non-Bank for KYC verification for subscriber registration through eNPS 3. Your KYC verification will be done by the Bank/Non-Bank POP selected by ...

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Tax on income out of excess employer contribution to specified funds – Computation methodology prescribed

Finance - Tax on income out of excess employer contribution to specified funds – Computation methodology prescribed The Finance Act 2020 introduced a new provision under the Income-tax Act, 1961 (the Act) by virtue of which employer contribution exceeding Rs. 7.5 lakhs p.a. (i.e. excess contribution) in aggregate to the following funds is now tax...

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Government needs to make NPS fair for all categories of subscribers

Finance - 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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Opening of Individual Pension Account under eNPS

Finance - 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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Retirement Saving – National Pension System (NPS)

Finance - 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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Ombudsman under NPS & Atal Pension Yojana

Finance - Pension Fund Regulatory and Development Authority (PFRDA) has appointed Shri Arnab Roy as Stipendiary Ombudsman in terms of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 for resolving NPS/APY subscriber grievances....

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FAQs on NPS & NPS for NRI Through eNPS

Finance - Q. 1 What is National Pension System? Ans: National Pension System is a contributory pension system which was initially (from 1st January 2004) introduced for the government employees and later rolled out for all citizens of India from May 1, 2009. Any citizen of India in the age group 18 to 65 years can join […]...

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Overseas Citizen of India can enroll in NPS at par with NRIs

Finance - Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians vide Circular No: PFRDA/2019/19/PDES/3 dated 29th October 2019....

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Pensionary benefits under NPS on Voluntary Retirement

Finance - The features and benefits under National Pension System (NPS) and the old pension scheme are independent. Under NPS, there is a provision for voluntary retirement/exit prior to the age of superannuation, without linking it with the minimum number of 20 years of service....

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National Pension System (NPS)- Govt approves Tax Relief Proposals

Finance - The Union Cabinet in its Meeting on 6th December, 2018 has approved the following proposal for streamlining the National Pension System (NPS). Enhancement of the mandatory contribution by the Central Government for its employees covered under NPS Tier-I from the existing 10% to 14%....

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Transfer of Legacy Funds of NPS Subscribers of Govt Sectors

PFRDA/17/07/0001/2017-SUP-C - (15/02/2021) - Transfer of Legacy Funds of NPS Subscribers of Government Sectors (SGs/ CABs/ SABs) pursuant to opening of choice of Investment schemes and Pension Funds- reg....

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D – Remit for NRI – NPS Subscribers

Notification No. PFRDA/2021/4/SUP-CRA/4 And PFRDA/2020/44/SUP-CRA/17 - (03/02/2021) - D Remit or Direct Remittance offers the most convenient mode of depositing voluntary contributions into NPS which also optimizes the long term retirement wealth creation by offering same day NAV. Through D Remit, not only one time contributions can be made but also periodic NPS contributions can be ...

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Online exit process for NPS subscribers associated with POPs

CIR No.: PFRDA/2020/55/SUP-ASP/2 - (28/12/2020) - PFRDA offers NPS Subscribers comprehensive and digitally enabled solutions for their diverse needs viz. on-boarding, servicing, exit and facilitating issuance of annuity as per their choice, through its registered intermediaries and empanelled Annuity Service Providers (ASPs)....

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Option for Govt. employees to on-board NPS through eNPS

CIR No.: PFRDA/2020/49/SUP-CRA/20 - (12/11/2020) - e-NPS is the online NPS on boarding portal hosted by the Central Record Keeping Agency (CRA) wherein a Subscriber can register and contribute online into NPS. Through eNPS, a Subscriber can register under NPS, generate a Permanent Retirement Account Number (PRAN) under All Citizens of India and Corp...

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D-Remit – an additional option to contribute to NPS

CIR no. PFRDA/2020/44/SUP-CRA/17 - (01/10/2020) - Direct Remittance or D-Remit – an additional option to contribute – is now available for the Subscribers. D-Remit is an electronic system through which money can be transferred from Subscriber’s Bank account to the Trustee Bank directly. To use D-Remit, Subscriber is required to have a Virtual...

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Recent Posts in "NPS"

Steps to Join or Register for NPS Online

NPS Registration using PAN (KYC verification by Bank/Non-Bank POP) 1. You must have a ‘Permanent Account Number’ (PAN) 2. Bank / Demat /Folio account details with the impaneled Bank/Non-Bank for KYC verification for subscriber registration through eNPS 3. Your KYC verification will be done by the Bank/Non-Bank POP selected by ...

Read More
Posted Under: Corporate Law |

Tax on income out of excess employer contribution to specified funds – Computation methodology prescribed

Tax on income out of excess employer contribution to specified funds – Computation methodology prescribed The Finance Act 2020 introduced a new provision under the Income-tax Act, 1961 (the Act) by virtue of which employer contribution exceeding Rs. 7.5 lakhs p.a. (i.e. excess contribution) in aggregate to the following funds is now tax...

Read More
Posted Under: Corporate Law |

Transfer of Legacy Funds of NPS Subscribers of Govt Sectors

PFRDA/17/07/0001/2017-SUP-C 15/02/2021

Transfer of Legacy Funds of NPS Subscribers of Government Sectors (SGs/ CABs/ SABs) pursuant to opening of choice of Investment schemes and Pension Funds- reg....

Read More

D – Remit for NRI – NPS Subscribers

Notification No. PFRDA/2021/4/SUP-CRA/4 And PFRDA/2020/44/SUP-CRA/17 03/02/2021

D Remit or Direct Remittance offers the most convenient mode of depositing voluntary contributions into NPS which also optimizes the long term retirement wealth creation by offering same day NAV. Through D Remit, not only one time contributions can be made but also periodic NPS contributions can be automated for any defined amount and for...

Read More

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 […]...

Read More

Online exit process for NPS subscribers associated with POPs

CIR No.: PFRDA/2020/55/SUP-ASP/2 28/12/2020

PFRDA offers NPS Subscribers comprehensive and digitally enabled solutions for their diverse needs viz. on-boarding, servicing, exit and facilitating issuance of annuity as per their choice, through its registered intermediaries and empanelled Annuity Service Providers (ASPs)....

Read More

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 […]...

Read More
Posted Under: Corporate Law |

Option for Govt. employees to on-board NPS through eNPS

CIR No.: PFRDA/2020/49/SUP-CRA/20 12/11/2020

e-NPS is the online NPS on boarding portal hosted by the Central Record Keeping Agency (CRA) wherein a Subscriber can register and contribute online into NPS. Through eNPS, a Subscriber can register under NPS, generate a Permanent Retirement Account Number (PRAN) under All Citizens of India and Corporate Sectors....

Read More

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...

Read More
Posted Under: Corporate Law |

D-Remit – an additional option to contribute to NPS

CIR no. PFRDA/2020/44/SUP-CRA/17 01/10/2020

Direct Remittance or D-Remit – an additional option to contribute – is now available for the Subscribers. D-Remit is an electronic system through which money can be transferred from Subscriber’s Bank account to the Trustee Bank directly. To use D-Remit, Subscriber is required to have a Virtual ID (Virtual Account). The introduction ...

Read More

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