Income Tax : The Finance Bill 2025 extends the investment deadline for SWFs and PFs to March 2030, ensuring continued exemptions on long-term c...
Corporate Law : NPS Vatsalya Scheme offers long-term financial planning for children. Parents can invest in a pension fund until the child turns 1...
Corporate Law : Overview of the Unified Pension Scheme (UPS) for government employees, comparing it with the Old Pension Scheme (OPS) and National...
Income Tax : Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. I...
Corporate Law : Learn how to calculate EPS pension, eligibility criteria, and the different types of pensions available under the Employee Pension...
Corporate Law : The National Pension System (NPS) offers flexible, low-cost pension options with digital accessibility, aiming to expand coverage ...
Corporate Law : Stakeholders and public can provide feedback on draft Unified Pension Scheme Regulations, 2025, under NPS for Central Government e...
Corporate Law : Finance Minister Nirmala Sitharaman will launch the NPS Vatsalya scheme on September 18, 2024, to promote early financial planning...
Corporate Law : Discover the 'Vatsalya' pension scheme for minors launched by the Ministry of Finance. Learn about contributions, conversion optio...
Corporate Law : Explore vital role of pensions in securing financial stability during retirement, as discussed by PFRDA Chairperson. Learn about N...
Corporate Law : Patna HC rules on joint option under EPF and Pension Scheme for higher pensions, citing Supreme Court precedents, impacting retire...
Income Tax : ITAT Ahmedabad held that PFRDA Act, 2013 doesn’t prescribed any due date for payment of employee’s contribution to National Pe...
Income Tax : In the case of G.K. Reddy vs. DCIT, Madras High Court has directed the Income Tax Department to lift the attachment of a pension a...
Income Tax : Read the full text of the judgment by Punjab and Haryana High Court granting a refund of income tax on exempted disability pension...
Corporate Law : Patna High Court held that petitioner is duly entitled for at least 5% Simple interest on delayed payment of pension and gratuity....
Corporate Law : PFRDA mandates Aadhaar-based authentication for NPS transactions in government offices, enhancing security with two-factor login f...
Finance : Unified Pension Scheme under NPS offers assured payouts to Central Government employees, effective April 1, 2025, with flexible co...
Finance : Department of Posts clarifies guidelines for considering married daughters for compassionate appointments, based on dependency and...
Corporate Law : Govt clarifies that a daughter’s name cannot be deleted from a pensioner’s family record, with eligibility for family pension ...
Corporate Law : The Department of Pension announces a Dearness Relief hike to 53% for Central Govt pensioners and family pensioners, effective Jul...
About National Pension System 1. What is National Pension System? National Pension System (NPS) is a pension cum investment scheme launched by Government of India to provide old age security to Citizens of India. It brings an attractive long term saving avenue to effectively plan your retirement through safe and regulated market-based return. The Scheme […]
An employee can claim overall deduction of Rs. 2,00,000 (i.e. Rs. 1,50,000 u/s 80C/80CCC/80CCD(1) and Rs. 50,000 u/s 80 80CCD(1B)) for National Pension scheme
Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new business will also be allowed to make partial withdrawals from his contributions. Other terms applicable to partial withdrawals will remain unchanged.
Employees’ Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner.
The Union Cabinet chaired by chaired by Prime Minister Shri Narendra Modi has given its approval for extending the investment limit from Rs 7.5 lakhs to Rs 15 lakhs as well as extension of time limits for subscription from 4th May 2018 to 31st March, 2020 under the Pradhan Mantri Vaya Vandan Yojana (PMVVY) as part of Government’s commitment for financial inclusion and social security.
Pension Fund Regulatory and Development Authority prescribes New NPS Subscriber Registration Form – Additional Mandatory Requirements
The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:
The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber.
Clarification to pensioners about the hike in exemption limit to Rs 3 Lakhs from Minister of State for Finance Shri. Shiva Pratap Shukla by his letter dated 14th November 2017.
Now, any Indian Citizen, resident or non-resident, between the age of 60- 65 years, can also join NPS and continue up to the age of 70 years in NPS. With this increase of joining age, the subscribers who are willing to join NPS at the later stage of life will be able to avail the benefits of NPS.
