Working in private sector? Your pension (EPS) is getting accumulated..

In a recent survey by a leading financial magazine, it came out that almost 60% of the respondents were unaware that private-sector employees covered by the employee Provident Fund (EPF), are also eligible for lifelong pension. More than 30% of these unaware respondents had already contributed Rs. 65,000-1 lakh of their hard earned money to the Employees' Pension Scheme (EPS) till now. Want to understand about this EPS pension scheme?...read on...

Does NPS investments fall under Section 80C? (QandA : 011)

Question : 011
Does NPS investments fall under Section 80C?
National Pension Scheme (NPS) has been the buzzword of discussions off late. Lot of our readers wrote to us wanting to understand if there are any additional tax benefits of NPS over and above what Section 80C has to offer?

What is the meaning of Taxation Regimes - EEE EET ETE TEE

There are different systems for tax exemption / deduction of investments, and for taxation of the income earned from it, like Exempt – Exempt – Exempt (EEE) or Exempt – Exempt -Taxed (EET).

What do these combinations mean? Which investment option follows which taxation regime? A fundamental understanding can help us select the right investment tool...Read on...

What is PRAN number

Background on National Pension System (NPS)
We know that National Pension System (New Pension Scheme) has been made mandatory for Central Government employees who joined in their service on or after 1st January,2004. Such employees are enrolled automatically in New Pension Scheme. Such employees are not eligible for old pension and GPF system. 

More importantly, until now the pension schemes was available to Govt employees and employees of relatively bigger companies who have provident fund facility . Any other person had to go with private pension schemes provided by insurance companies . 

With NPS now its a common person gateway to Pension Schemes.