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PENSION FUND REGULATORY AND DEVELOPMSNT AUTHORITY B-14/A, Chhatrapati Shivaji Bhawan Qutah Institutional Area, Katwaria Sarai, New Delhi-110016 Phone ; 01 1 -2651 7503 Fax : 01 1 -?651 7507
lVebsits : www,pfrda.org
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24th FebrLiary, 2016
DA/Z3/CCn Piz0l5
Dear Sir/ Madam,
Subject: Tax benetit availatrle under t{ational Fension $ystem (Np$)
be aware that uncjer the National Pension System (NPS), lhe -NY#O""ribers can avail of tax benefil under Sec 80CC D(1),up to 10olo oi their salary lryould
lakhs Lrnder $ection 8OCCf;. From FY 2015-16,
atrove the Hs 1.5 Lakhs, is available only to A<\"
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lncome Tax
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Act, Any citizen of lndia
Z. This additional tax benefit on investment uptoRs.50000/- provides an opportunity not only to those errlployees who ars ffiandatorily covered under NPS, but ALLo to ?ll othpT
Sg-.to
ar,,ail
ol this tax benelfit by <--pening an NPS account on voluntary basis and
by
investing the requirecl arnourrt,
g,
pFRDA has provided &fl tri:$/ ancJ convsniont way tci subscribe to NPS by recontly introducing eNPS, which any inclivicjual can rnake use of to join NPS. A new subscriber
can adopt the following eNP$ methods for joining NPS:
--o>(a) Using Aadhaar card issued by UIDAI which is authenticated through OTP received frorn UIDAI on the registered rnobile of the applicant. In this case, the subscriber can instantfy get himself/herself registered. He/she has to simply visit the eNPS module in NPS Trust website at wwrw.npst.org.in. (b) Using PAN and net banking of the selected bank chosen by the subscriber. In
this case tC/C verification is done by the Bank. The NPS account gets activated only after KfC verification by Bank. He/she has to go to eNPS module in NPS Trust website at www. npstrust.org. in
4. A new subscriber
can also open an account physically through any of the Points-of-
Presence- Service Provider (POP-SP). The list is available on www.pfrda.org.in.
5. Therefore, your employees who are not NPS members can open their NPS
account,
and make contributions using any of the three options mentioned above. Existing NPS subscribers can also make additional contributions to avail of the tax benefit by using any of the options as stated above.
6. Contribution upto Rs 50,000 in NPS for the additional
tax benefit in the current year
has to be made by 31-03-2016 and it is impoftant that this message be conveyed to all
your staff members and employees right upto the level of DDOs /DTOs , at the earliest. This will definitely help in their tax planning.
7. We request you to disseminate the above information to all concerned
.
With regards, Yours sincerely,
Chief General Manager
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