ESAF Small Finance Bank

ESAF Small Finance Bank, Annanagar, chennai Bank Branches in Annanagar, chennai, tamil nadu

ESAF Small Finance Bank ESAF Small Finance INR ESAF Small Finance Bank
West Woods, New No 32, Old No 205, 5th Avenue, Y Block Annanagar, chennai 600040

West Woods, New No 32, Old No 205, 5th Avenue, Y Block, Nearby Toni&Guy Hairdressing, Annanagar, chennai, tamil nadu - 600040

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ESAF Small Finance Bank National Pension System National Pension System
ESAF Small Finance Bank Services in Annanagar, chennai
National Pension System
National Pension System

ESAF Small Finance National Pension System

SKU: NPS
0

National Pension System (NPS) is a perfect solution for retirement planning. It provides old age income with reasonable market-based returns. It is based on unique Permanent Retirement Account Number (PRAN) which is allotted to every subscriber for NPS which comes with the dual advantage of saving tax and assuring a regular income in the future. NPS investments are fully tax exempted.

In case of any queries, please write to : nps@esafbank.com

Highlights

NPS Account offers the following benefits:

Regulated: NPS is regulated by PFRDA (Pension Fund Regulator under Govt. of India)

Transparency: NPS account can be accessed online to make contributions and track investments.

Exclusive Tax Benefits

For Retail Sector :

NPS offers deduction of Rs 150,000/- on contributions made from your taxable income (under Section 80 CCD (1) of the Income Tax Act,1961) subject to

  •     -10% of salary (Basic + DA) – for salaried employees
  •     -20% of gross total income – for self-employed persons

Note: The maximum deduction from the taxable income is limited Rs.1.5 lac, as permitted under Sec 80CCE of Income tax Act,1961

Further an additional deduction from the taxable income to the extent of Rs 50,000 under Section 80 CCD(1B)

  •     Deduction under Sec.80CCD (1) -Rs.1.50 lac
  •     Deduction under Sec.80CCD (1B) -Rs.0.50 lac
  •     Total Deduction -Rs.2.00 lac
For Corporate Sector:

Employees :

  • Under Corporate NPS model, employer’s contribution on behalf of the employee (up to 10% of Basic+D.A) can be claimed as deduction under 80 CCD (2). Tax benefit u/s 80CCD (1B) and 80CCD (2) are over and above Rs.1.5 lacs limit u/s 80C.

Employer :

  • Corporate can avail of tax benefit u/s 36 (i) (IV) of Income Tax Act, 1961, on the contribution deposited by i
Who can open an NPS Account?:
  • Any Citizen of India.
  • Age between 18 years to 70 years.
  • Applicant should be KYC compliant.
  • Applicant should not have a pre-existing NPS Account.

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Atal Pension Yojana (APY) is a guaranteed pension scheme by Government of India and regulated by PFRDA. The features and benefits of APY include guaranteed monthly pensions, tax benefit and auto-debit feature. Fix 0
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