My eNPS has recently been converted from Individual to Corporate.
Does this will have some shortcomings?
Will I not be able to make individual contributions via eNPS website (not from salary but using debit card or net banking)?
Are there any benefits to corporate nps account?
Please someone help me all these queries 🙏.
I think corporate account means now ur employer can also contribute into ur nps account.. ur employer can invest 10% of your basic into ur nps account which is tax free.. thats only difference
U did it or ur employer?
Employer will deducted 10% or less based on what you have selected on you company portal/site from your monthly salary. It will not be part of your salary (as it is not at hand money but still your package part as you allocate the amount) so it is tax free
did you shift CRA also ?
and is it NSDL or Kfintech ?
There will be some charges for every contribution. You can still contribute own also
dhinchakrohit wrote:U did it or ur employer?
employer
Are there any special limitations to this on withdrawal which are not there on individual a/c? And what is the annual minimum to corporate? (Some websites say Rs6000, some say its Rs1000)
Totally confused.
eNPS account doesn’t have any commission charges when contributing if i remember correctly. There are annual maintenance charges only.
If CRA is changed, they might charge for CRA change and then some commission on every contribution as well (1 percent maybe?)
raman12 wrote:eNPS account doesn’t have any commission charges when contributing if i remember correctly. There are annual maintenance charges only.
If CRA is changed, they might charge for CRA change and then some commission on every contribution as well (1 percent maybe?)
@raman12 CRA is not changed only POP is changed to CBO corporate office.
Individual or Corporate NPS account : No impact on individual contribution.
I did similar last year.
As it made corporate, POP of your Corporate will be applicable. For e.g. if you selected HDFC, but corporate has tie up with ICICI, then POP will be changes to ICICI. This is required for Employer to transfer money.
You can get Tax exemption upto 50,000 for your investment and upto 50,000 for your employer contribution as part of 80CCD in addition to 80C 1.5 lacs benefit.
pstree19 wrote:Individual or Corporate NPS account : No impact on individual contribution.
I did similar last year.
As it made corporate, POP of your Corporate will be applicable. For e.g. if you selected HDFC, but corporate has tie up with ICICI, then POP will be changes to ICICI. This is required for Employer to transfer money.
You can get Tax exemption upto 50,000 for your investment and upto 50,000 for your employer contribution as part of 80CCD in addition to 80C 1.5 lacs benefit.
what happens if i directly registered either with NSDL or Karvy without POP?
pstree19 wrote:Individual or Corporate NPS account : No impact on individual contribution.
I did similar last year.
As it made corporate, POP of your Corporate will be applicable. For e.g. if you selected HDFC, but corporate has tie up with ICICI, then POP will be changes to ICICI. This is required for Employer to transfer money.
You can get Tax exemption upto 50,000 for your investment and upto 50,000 for your employer contribution as part of 80CCD in addition to 80C 1.5 lacs benefit.
@pstree19 How much charge is corporate deducting? And in how much time does it reflect in nps?
pstree19 wrote:Individual or Corporate NPS account : No impact on individual contribution.
I did similar last year.
As it made corporate, POP of your Corporate will be applicable. For e.g. if you selected HDFC, but corporate has tie up with ICICI, then POP will be changes to ICICI. This is required for Employer to transfer money.
You can get Tax exemption upto 50,000 for your investment and upto 50,000 for your employer contribution as part of 80CCD in addition to 80C 1.5 lacs benefit.
when does company deposit 10% contribution after salary day ?
