eNPS account cpnverted from Individual to Corporate

168°
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 🙏.

Expired
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
17 Comments  |  
10 Dimers
  • Sort By
Deal Cadet Deal Cadet
Link Copied

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

Talk-Of-The-Town Talk-Of-The-Town
Link Copied

U did it or ur employer?

Deal Cadet Deal Cadet
Link Copied

employer

Deal Cadet Deal Cadet
Link Copied

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

Benevolent Benevolent
Link Copied

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

Deal Cadet Deal Cadet
Link Copied

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

Deal Captain Deal Captain
Link Copied

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

Deal Cadet Deal Cadet
Link Copied

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.

Helpful Helpful
Link Copied

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
Link Copied

@raman12 CRA is not changed only POP is changed to CBO corporate office.

Deal Newbie Deal Newbie
Link Copied

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.

Deal Cadet Deal Cadet
Link Copied

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

View 5 more replies
replyuser
Click here to reply
Reply