NPS Online: National Pension System (NPS) is such a scheme of the Government of India, under which you can arrange financial support for your old age. It was launched by the Center on 1 January 2004. In this scheme, people working in the private sector along with the government can also open an account.
NPS Online: If you are also planning to open an NPS account, then this news is of your use. Now you can also take membership of National Pension Scheme (NPS) online from the Department of Posts. An official statement in this regard said that from 26 April 2022, NPS membership has been started through online medium.
How to get membership
Indian citizens in the age group of 18-70 years can take advantage of the online facility by going to the ‘National Pension System – Online Services’ category on the website of the Department of Posts. ‘Facilitations like new registration, early / later contribution and SIP option are available to the customers under NPS Online at minimal charges.’ The Department of Posts claims that its NPS service fee is the lowest.
Voluntary Pension Scheme of Government of India
Let us tell you that the National Pension Scheme (NPS) is provided by the Department of Posts (DOP). It is a voluntary pension scheme of the Government of India, managed by the Pension Fund Regulatory and Development Authority (PFRDA) through its designated post offices since 2010.
Who can invest
Apart from central government, state government employees, private sector employees and common citizens can invest in NPS. A person of 18-70 years can invest under this scheme. Non Resident Indian (NRI) can also invest in this scheme. Contributions made by NRIs are regulated by RBI and FEMA.
Benefits available in NPS
- 60 percent of the amount is tax free on final withdrawal from NPS.
- The limit of contribution in the NPS account of government employees is 14 percent.
- Any NPS subscriber can claim tax deduction up to 10% of the gross income under section 80CCD(1) of the Income Tax Act, subject to an aggregate limit of Rs. Under section 80CCE, this limit is 1.5 lakhs.
- Subscriber can claim additional deduction up to Rs 50,000 under section 80CCE.
- The amount invested in the purchase of annuity is also fully exempt from tax.
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