ESAF Small Finance Bank, Benisagar Mohalla, panna Bank Branches in Benisagar Mohalla, panna, madhya pradesh
INR https://branches.esafbank.com/esaf/banks-in-panna/banks-in-benisagar-mohalla/esaf-small-finance-bank-in-benisagar-mohalla-panna--d7f75277-3a4a-4f69-9740-c7fae2692e7b/products/national-pension-system--27fda3c7-eaed-4d99-b88e-7b5bfcabcd26 ESAF Small Finance Bank Annapurna Complex, Hospital Road, Nearby District Hospital, Benisagar Mohalla, panna, madhya pradesh - 488001
ESAF Small Finance National Pension System
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
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
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
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
- 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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