And this extra Rs 50,000 tax deduction for National Pension Scheme NPS is what catches most people’s interest. And such people keep looking for easy-to-use NPS calculators. But before we find out the details of NPS pension calculations, let me remind here that ideally,investment decisions s...
The employee has a choice as to which section ,80CCD(1) or 80CCD(1B), he wants to show his contribution. Ideally he should show Rs 50,000 investment in NPS u/s 80CCD(1B). The tax deduction on rest Rs 12,000 can be claimed u/s 80CCD(1). The section 80CCD(1) along with ...
Authorities believe that while EPF is a statutory deduction scheme for all organized sector employees in any establishment having 20 or more employees, NPS is voluntary. Besides, whileEPF deductions are 12%each for employees and employers,NPS deductions are 10%. Budget 2015-16 and transfer of EPF...