What is the difference between individual and corporate NPS?
Any individual between 18-60 years—who is citizen of India—can enroll in NPS. The retirement age for both the Tier-I & Tier-II accounts is 60 years….Know more about NPS-Corporate Sector Model.
| Employee | Without NPS (Section 80 C) | With NPS 80 CCD (2) |
|---|---|---|
| NPS | Nil | Rs. 1 lakh |
| Total income | Rs. 12 lakh | Rs. 12 lakh |
| Deduction | Rs. 1 lakh | Rs. 2 lakh |
Can I continue NPS after leaving government job?
Continuation of NPS account: Subscriber can continue to contribute to NPS account beyond Retirement (Up to 70 years) and avail additional tax benefit on the contribution. He/she can initiate exit request online and as per NPS exit guidelines start receiving pension.
How do I know if my NPS account is corporate?
Employee Confirmation under eNPS by Corporates ×
- Login to CRA system.
- Enter user id and password.
- Go to “Subscriber Registration” menu and navigate “Corporate Employee Confirmation”
- Search records to be verified through PRAN, Acknowledgment No.
- Verify of subscriber details.
What is corporate head office NPS?
Corporate Head Office (CHO): A Corporate wishing to provide NPS to its employees under the Employer – Employee relation, can join NPS by registering as a Corporate Head Office through a POP. The different branches of the corporate can be registered as a Corporate Branch Office (CBO).
Can I change CRA in NPS?
Subscribers of National Pension System (NPS) All Citizen Model will now be allowed to make the choice of or change Central Record Keeping Agencies (CRAs) twice in a financial year.
How do I Shift my NPS account?
Shifting from Corporate Sector to any other sector (Central or State Governments or All Citizens model) or vice versa. When you are shifting to Government NPS, you will have the Form to Nodal office (typically accounts section in your office). However, there are other scenarios which, though not as important, can require you to shift NPS account.
What is the process of shifting to government NPS?
Shifting from State Government to Central Government or vice versa. Shifting from Corporate Sector to any other sector (Central or State Governments or All Citizens model) or vice versa. When you are shifting to Government NPS, you will have the Form to Nodal office (typically accounts section in your office).
What happens to my NPS account if I Change my citizenship?
As upon change in the Subscriber’s citizenship, his/ her NPS account will be closed. i.e. upon acquiring Citizenship of another country, the Subscriber is required to submit the required proofs/ documents to the concerned Nodal Office who will carry out the due diligence process.
How to join NPS as a corporate?
Corporate may directly approach POP as an entity for its employees to join NPS. Corporate along with POP shall also be required to comply with the provisions of the Prevention of Money Laundering (PML) Act, 2002 and the rules framed there under, as may be applicable, from time to time. Point of Presence (POP)