Pon1965
Construction
Dixonjose02
Sr. Hr Manager
+1 Other

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Dear All, Request your valuable inputs on 1. Benefits of NPS 2. Difference between NPS and PF 3. Suggestions required that should we go ahead with NPS
NPS is voluntary. 10% of basic + Da is tax exempted in addition to the sec 80C limit. Returns are not guaranteed and it is based on your fund performance. Can't be withdrawn in between for Tier I a/c.
PF on the other hand is mandatory and it has got guaranteed return. can be withdrawn for some specific purposes. Tax benefits under Sec 80C.
Pon

Thank You Pon for the insights provided by you, really appreciated, however i am seeking for some in depth details which would include the advantages and disadvantages, more differences between PF and NPS.
Regards,
Ashish

Furhter NPS fund shall be managed by ICICI Produential funds Mngmnt,IDFC Pension Mngmt,Kotok Mahindra Pension Fund,Relience Capital pension fund, SBI pension funds, UTI retirement solution.
The NPS returns depends on the above fund managers performance.

The main advantage of NPS is the portability & transparency in the system. The NPS a/c is portable across the country. The PRAN no. once allotted remains valid throughout your life. The entire contribution & other details can be seen by your login.
NPS is a defined contribution scheme, while EPS is a defined benefit scheme.
The additional tax benefit u/s 80 CCD is applicable only if NPS is routed thru' a Corporate, not otherwise. If you are a personal contributor to NPS, it is covered u/s 80C only.
For people looking for hassel free pension, NPS is a beautiful product & must be encouraged at Corporate level also, as putting money early in ones life in NPS will give much better returns thatn EPS. In my previous stint at Hyundai Engg, we had offered this addtional benefit to our employees.
For more details, u may c PFRDA website.

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