Comment posted on New Pension System(NPS) by Pankaj Batra
@Chandra
They can invest into these schemes for their retirement with investment into equities, bond and debt funds.
Pankaj Batra also commented
- @AK
NPS amount contribution would be done for arrears also. - @Varun
Yes, you can get your contribution into tier 1 account increased.
You can invest into Tier-1 directly also quoting your PRAN number from any POP branch. - @Shashikant
1. As of now, if withdrawal is made before 60 years (that too on resignation only), 20% amount would be provided and with rest amount, annuity has to be bought. We would update this post once Govt/PFRDA change this rule.
2. Tier 2 account can be opened by any Indian who already has Tier 1 account. - @Ritika
If a subscriber wishes to exit from NPS before attaining the age of 60, he/she can withdraw upto 20% of the sum accumulated till that point of time. The subscriber has to buy annuity with the rest of the money. - @Debojyoti
You need to visit local bank/POP location only to open an account.
There are many POPs in Shillong as per NPS website, check it on this page: https://www.npscra.nsdl.co.in/pop-sp.php
Select State and City to show all POPs.
Recent comments by Pankaj Batra
- Emigration clearance not required (ECNR)
@Moiz
It would be better to get passport reissued before procedures. - Testimonials
@Shilu
There is no issue in transferring amount to bank from PayPal.
If you declare this income in ITR, there would not be any issue. - Pay Your Electricity Bills Online In Haryana
@Raman
There is a minimum charge per KVA for electricity connections. If main meter is of 10 KVA capacity and three houses are using it through sub meter, each should pay 1/3rd of minimum charge, even if no electricity is consumed. - Emigration clearance not required (ECNR)
@Moiz
Visa on old passport would be valid. You need to carry both passports together.
While applying for passport reissue, you should give matriculation certificate and B.Com degree copy. Emigration clearance certificate is not needed.
Bima policy and affidavit is needed in case of emigration clearance from PoE. This is one time clearance for those who cannot get ECNR status on passport (because of time or eligibility issue) - Testimonials
@Shilu
Tax rates for professionals are also same as that of salaried class. They also have deductions like 80C, 80D etc applicable.
Only difference is professional may deduct all business expenses from income to compute net profit. This net profit part would only be taxable in that case.Say, your wife earns 5 lakhs in a year, but has also incurred expenses towards internet bills, telephone bills, server/domain name cost, laptop/hardware purchase etc. Say expense is 1 lakh. Then total taxable income would only be 4 lakhs. Now if she invests 1 lakh into 80C products (like insurance, tax saving mutual fund, tax saving fixed deposits etc), Taxable income would further reduce by 1 lakh and she has to only pay 10% tax on remaining 1 lakh (no tax is payable for first 2 lakhs).
She would need to file income tax returns after year end by 31st July using ITR4 form. This form is a bit complex and common man cannot understand those financial terminology of profit/loss etc.
Can I pay for NPS without employer contribution. How Gov. is going to check that I contribute maximum 10% of basic. Or can i contribute to NPS more than 10% of basic salary?
@Adi
NPS account can be opened and operated without employer contribution as well.
There is no maximum limit of investment. Minimum Rs 6000 has to be invested per year.
how to pay for pran to online facility
@V.Srinu
As of now you can contribute to your NPS account using online SBI accounts only.
Sir, many of my friend are willing to do NPS ,but no bank in Shillong(Meghalaya) are able to open the account. so please tell me is there any facility to open a NPS account through online.
@Debojyoti
You need to visit local bank/POP location only to open an account.
There are many POPs in Shillong as per NPS website, check it on this page: https://www.npscra.nsdl.co.in/pop-sp.php
Select State and City to show all POPs.
I was working in Bank Of Baroda,since last one and a half year, I need to apply for refund of my NPS amount? I have filled up the form for refunding of amount 3 months back, but have still not got it..
Please tell me how to get my amount refunded,is there any other form also that has to be filled and from where to enquire about it all this?
@Ritika
If a subscriber wishes to exit from NPS before attaining the age of 60, he/she can withdraw upto 20% of the sum accumulated till that point of time. The subscriber has to buy annuity with the rest of the money.
I am Central Government employee covered under New Pension Scheme having Tier 1 Account. Sir PFRDA and Government always issue circulars regarding withdrawal at retirement or death. We all have regular life so as there will be requirement of money at any stage and in any year and in any emergeny.
(1) Are Government And PFRDA deciding about withdrawal in a year ?
(2 ) Is there facility of Tier 2 account for Central Government employee?
Please help me sir, In my NPS Account there is 2,44000/- available at this time but there is no provision or rule of withdrawal therefore I took personal loan on 17% interest from Private Bank in an emergency.
@Shashikant
1. As of now, if withdrawal is made before 60 years (that too on resignation only), 20% amount would be provided and with rest amount, annuity has to be bought. We would update this post once Govt/PFRDA change this rule.
2. Tier 2 account can be opened by any Indian who already has Tier 1 account.
Hi Pankaj
My question is same as Shashikant.. Are there any discussions going on with the government from Central Govt Employees representatives regarding the withdraw of NPS money at certain intervals? It would be helpful for the needy if certain amount can be withdrawl from the NPS
Hi Pankaj,
This is Varun again. I just want to conform whether the amount of my contribution in the TIER-I from my side can be increased?
@Varun
Yes, you can get your contribution into tier 1 account increased.
You can invest into Tier-1 directly also quoting your PRAN number from any POP branch.
what about arrears received in salary. is there NPS deduction and the same amount from government.
@AK
NPS amount contribution would be done for arrears also.