On Employee’s contribution under Section 80CCD(1):Employee’s own contribution is eligible for tax deduction under sec 80 CCD (1) of Income Tax Act up to 10% of salary (Basic + DA). This is within the overall ceiling of Rs. 1.50 Lacs under Sec. 80 CCE of the Income Tax Act. On...
Currently, there is no other scheme that gives an assured return of around 8% and that too tax-free. EPF contribution happens before salary comes to the bank account so it is compulsory saving for retirement. You can open an NPS account and contribute to it at a personal level. So you ...
When it comes to government personnel, how does NPS become calculated? The NPS calculator for government employees calculates the amount depending on the 7th Pay Commission Matrix's Basic Salary setting How does the NPS tax benefit work? Up to 10% of primary and discretionary salaries (Basic DA...