eNPS account cpnverted from Individual to Corporate

62°
Deal Cadet
Musky

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 🙏.

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Deal Cadet Deal Cadet
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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

Crowdpuller Crowdpuller
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U did it or ur employer?

Deal Cadet Deal Cadet
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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

Deal Subedar Deal Subedar
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did you shift CRA also ?
and is it NSDL or Kfintech ?

Deal Captain Deal Captain
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There will be some charges for every contribution. You can still contribute own also

Deal Cadet Deal Cadet
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dhinchakrohit wrote:

U did it or ur employer?

employer

Deal Cadet Deal Cadet
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akki.akki wrote:

did you shift CRA also ?
and is it NSDL or Kfintech ?

How to check CRA? Previously it was NSDL. When I login a logo of NSDL comes in the header.

Deal Cadet Deal Cadet
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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.

Cool Cool
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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?)

Deal Cadet Deal Cadet
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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.

Deal Newbie Deal Newbie
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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.

Chennai Super Kings Chennai Super Kings
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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?

Cool Cool
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BBal wrote:

what happens if i directly registered either with NSDL or Karvy without POP?

in that case there would have been 0 commission on contribution

Chennai Super Kings Chennai Super Kings
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raman12 wrote:

in that case there would have been 0 commission on contribution

Yes, no extra POP commission charges for end user to contribute.
However, I meant to ask will employer have any issues to contribute if i directly registered with NSDL or Karvy ?

Deal Cadet Deal Cadet
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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?

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