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    NPS FAQ's

    Uploaded by

    Nitin Sharma
    The document discusses National Pension System (NPS) in India, including what NPS is, the types of NPS accounts, tax benefits, investment asset classes, withdrawal process, and other key details about opening and managing an NPS account.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    NPS FAQ's

    Uploaded by

    Nitin Sharma
    19 views3 pages
    The document discusses National Pension System (NPS) in India, including what NPS is, the types of NPS accounts, tax benefits, investment asset classes, withdrawal process, and other key details about opening and managing an NPS account.

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    © © All Rights Reserved

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    The document discusses National Pension System (NPS) in India, including what NPS is, the types of NPS accounts, tax benefits, investment asset classes, withdrawal process, and other key details about opening and managing an NPS account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    19 views3 pages

    NPS FAQ's

    Uploaded by

    Nitin Sharma
    The document discusses National Pension System (NPS) in India, including what NPS is, the types of NPS accounts, tax benefits, investment asset classes, withdrawal process, and other key details about opening and managing an NPS account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 3

    National Pension System (NPS) is a defined

    contribution scheme launched by Government of


    What is NPS?
    India & is regulated by Pension Fund Regulatory
    and Development Authority (PFRDA).

    POP - Point of Presence aassist subscribers in


    registration and contribution process.
    What is PFM & POP?
    PFM - Pension Fund Manager who manages
    subscribers’ money.
    Tier I - Pension Account - Mandatory
    What are the types of NPS account?
    Tier II- Investment Account - Optional
    Investment in Tier I account is tax exempted on
    Does NPS contribution is exempted from Income
    contribution and at the withdrawal. It is an EEE
    Tax?
    product.

    Employer’s contribution - up to 10% of basic


    What are the tax benefits under NPS?
    salary u/s 80CCD (2).
    Self/employee contribution - exclusive additional
    tax benefit ₹ 50,000 u/s 80 CCD(1B).
    Tax exemption for contribution in NPS u/s
    Tax benefit under NPS is part of section 80C?
    80CCD(2) & 80CCD(1B) are over and above 80C.
    There are four asset classes under NPS-
    E - Equity Market Instruments
    What are the Investment Asset Classes offered
    G - Government Bonds
    under NPS?
    C - Corporate Bonds
    A - Alternate Investment Fund
    NPS withdrawal is taxable, or it is exempted? NPS withdrawal is exempted from tax.
    Maximum 60% of corpus can be withdrawn in
    How much corpus can be withdrawn at the time
    lumpsum & Minimum 40% of corpus is required
    of retirement?
    to be invested in an Annuity.
    Yes, existing NPS subscriber can shift their account
    Can I shift my existing NPS account to my
    by submitting Inter Sector Shifting form & PRAN card
    present employer for employer’s contribution?
    copy.

    The lock in period for corporate subscriber is the the


    What is the lock in period for investment done
    date of retirement & for UOS subscribers it is 60
    under NPS?
    years.

    It can be calculated by using NPS calculator available


    How can I calculate my corpus accumulated at
    on ABSLPML website-
    the time of withdrawal if I start NPS
    https://pensionfund.adityabirlacapital.com/nps-
    contribution now?
    calculator

    How can I access my NPS account once PRAN is Subscriber can access their NPS account through CRA
    generated? website by using PRAN as user ID and password.

    CRA - Central Record Keeping Agency, who maintains


    What is CRA? subscriber’s transaction record. For ABG group
    employees NSDL is the registered CRA.

    Subsequent contribution to the existing NPS account


    How can I voluntarily contribute into my can be done online through ABSLPML website.
    existing NPS account? https://pensionfund.adityabirlacapital.com/invest-in-
    nps

    How can I change scheme preference and PFM Subscriber can change existing scheme preference
    for my NPS account and what is the allowable twice a financial year & PFM once a financial year
    frequency? online through CRA website.

    It is mandatory to have active Tier I account to open


    Can I open Tier II account only? Tier II account. The Tier II account is optional
    Investment account.
    Does contribution to Tier II account is also Tax benefit cannot be availed for Investment done
    exempted from Tax? under Tier II account.

    To keep the NPS Tier I account active, it is


    It is mandatory to contribute in NPS Tier I account
    mandatory to invest minimum ₹1000 on yearly
    post registration?
    basis.

    Partial withdrawal is allowed only after 3 years of


    participation in NPS from the date of opening the
    account. Maximum 3 withdrawal is allowed from
    Can I withdraw from my active NPS account?
    subscriber’s own contribution and each
    withdrawal cannot exceed 25% of value of
    subscriber contribution

    Can I open NPS account for my family who is not Any Indian citizen between the age of 18 to 70
    employed? years can open NPS account.

    Subscribers can operate their NPS account from


    Can I keep same NPS account in case of change in
    anywhere in the country, even if they switch jobs
    employer?
    or move to a different location.

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