Dear Friends,
Could you please confirm Can an employer contribute in Two Pension schemes of Government “New Pension Scheme” and “Family Pension Fund of RPFC”. I read somewhere you have to exit from RPFC if you want to join NPS as a corporate member on the behalf of your employees.
Also on PFRDA websites states:
Who is not covered by the NPS?
You are not covered by the NPS if
1. You are already covered by the Employees Provident Fund and Miscellaneous
Provisions Act, 1952 and any other special Acts governing these funds, or
2. You joined Central Government service before 01 January 2004, or
3. You are an employee of the Indian Armed Forces (Army, Navy and Air Force), or
4. You are employed in a Department or in a Post under which you are not eligible to receive a pension from the Consolidated Fund of India.
Link: http://pfrda.org.in <link updated to site home>
Request learned members to guide on this :
1. Is it possible to Join both the schemes simultaneously and take tax advantages. (Sec 80C and 80 CCD)?
2. What is procedure to quit FPF and what would happen to balance in the accounts of members with FPF, will it get transferred to NPS Account?
3. Which scheme is better in terms of Risk and Pension and Tax Benefits?
Thanking you in advance for your Time !
Thanks & Regards,
Sukhvinder Singh
Could you please confirm Can an employer contribute in Two Pension schemes of Government “New Pension Scheme” and “Family Pension Fund of RPFC”. I read somewhere you have to exit from RPFC if you want to join NPS as a corporate member on the behalf of your employees.
Also on PFRDA websites states:
Who is not covered by the NPS?
You are not covered by the NPS if
1. You are already covered by the Employees Provident Fund and Miscellaneous
Provisions Act, 1952 and any other special Acts governing these funds, or
2. You joined Central Government service before 01 January 2004, or
3. You are an employee of the Indian Armed Forces (Army, Navy and Air Force), or
4. You are employed in a Department or in a Post under which you are not eligible to receive a pension from the Consolidated Fund of India.
Link: http://pfrda.org.in <link updated to site home>
Request learned members to guide on this :
1. Is it possible to Join both the schemes simultaneously and take tax advantages. (Sec 80C and 80 CCD)?
2. What is procedure to quit FPF and what would happen to balance in the accounts of members with FPF, will it get transferred to NPS Account?
3. Which scheme is better in terms of Risk and Pension and Tax Benefits?
Thanking you in advance for your Time !
Thanks & Regards,
Sukhvinder Singh