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NPS Pension Scheme Change: The Pension Fund Regulatory and Development Authority (PFRDA) has made some changes in the NPS i.e. National Pension Scheme. PFRDA has now changed the rules of National Pension Scheme.
this is the decision
Let us tell you that PFRDA has made some changes to provide better experience to its customers. PFRDA has decided to reduce the timelines for various transactions under the National Pension Scheme (NPS) to meet the growing needs of the subscribers in a timely manner.
these are the changes
Now the time taken for execution of withdrawal requests under NPS account has been reduced from T+2 basis to T+4 basis. This means that it currently takes four days for the day of authorization of the withdrawal request and for the settlement of the transaction. Now, it has been reduced to 2. Now the time of NPS account holder will be saved.
what are the rules
Let us tell you that commission is being given to Point of Presence on opening NPS account from 1st September. Through this PoP, people are provided with registration and other facilities in NPS. Now from this month, these people are being given a commission ranging from Rs.10 to Rs.15 thousand.
can contribute like this
Employees can contribute in many ways under the NPS model. Many times the employer chooses the way of contributing for the employees on their behalf. These are of 3 types.
- Equal contribution from employer and employee
- Unequal contribution by the employer and the employee, in which the employer contributes more or the employee contributes more.
- Contribution on behalf of Employer only or Employee only
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