NATIONAL PENSION SCHEME-INDIA

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NPS, A GOOD TOOL TO SAVE FOR YOUR RETIREMENT

A short presentation on NPS (National Pension Scheme) Presentation-1

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In this document, we looked at the differences between the New Income Tax Regime and how our old Income Tax Regime. How is it useful for employees. There is a clear difference in using these regimes. Employees are allowed to use any of these. #hrexpert #hrservices #labourlaws #payrollmanagement #hrbusinesspartner #eor #peo #hrsupport #hrtechnology #hrconsulting #gigworkers #careerstargroup #smebusiness #hr #hrconsultancy #hrtech #hroutsourcing #smesector #outplacement #msme #globalworkforce #payrolling #indiapeo #indiaentry #smesurvival #peoindia #hrcloud #indiapayroll #listing Follow Husys on : Linkedin : https://www.linkedin.com/company/143536/ Facebook : https://www.facebook.com/Husys Twitter : @Husys Slide Share : https://www.slideshare.net/grhusys/ Any questions can be directed to: reach(at)husys.com Phone : +91-9948078937 (India)

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From the current financial year 2020-21, Individuals & HUFs are having an option to select between old tax system & New Tax system to discharge their tax obligations. CBDT has recently issued a circular clarifying that employees need to intimate their respective employers regarding their choice and accordingly employer shall compute TDS. However in the absence of intimation, employer shall proceed according to existing tax system. Our tax team has explained the nuances of old and new tax system alongwith detailed comparison making the selection easy.

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The National Pension System (NPS) is a voluntary retirement savings initiative in India, established by the government in 2004. It involves individuals making regular contributions to individual pension accounts, which are managed by Pension Fund Managers. NPS provides various investment options, including equity and bonds. Upon retirement, a portion can be withdrawn as a lump sum, and the rest is used to purchase an annuity for a regular pension. The scheme offers tax benefits and aims to foster a culture of long-term savings for financial security during retirement.

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