By investing ₹ 1000 in this special scheme of Modi government, you can get 2 lakhs along with ₹ 5000 per month pension for life.

 By investing ₹ 1000 in this special scheme of Modi government, you can get 2 lakhs along with ₹ 5000 per month pension for life.

What is Modi government's scheme?

After his retirement, everyone is worried that from where they will get money and small pension will not be able to make their living. In such a situation, this scheme of Modi government can be very useful for you, today we are going to give you information about such a pension scheme run by Modi government in which you can deposit 1000 rupees a month with 2 lakh rupees for ₹ 5000. You can get pension every month.

What is NPS

National Pension Scheme is a pension product which was started in 2004 to give benefits to government employees, but in 2009 it was started for common people by making some changes in it. Under the National Pension Scheme, there was a change in 2011 by which corporate employees can also invest in this scheme.

How do you get more benefits from NPS?

Under the National Pension Scheme, you get more benefits than other pension schemes, let's understand its math. Suppose you open your account under the National Pension Scheme at the age of 25 and deposit ₹ 1000 per month in it, on this deposit you are given an interest rate of up to 8% as of now, according to this if If seen, the total investment under your pension is 9.49 lakhs, on this investment you can withdraw up to 40 percent, according to this you get around Rs 2 lakhs and the rest of the money will be given to you in the form of ₹ 5000 pension per month. are given on. Under the National Pension Scheme, Rs 5062 per month pension is being given at present.

Age limit in National Pension Scheme?

Any person whose age is between 18 to 65 years can apply for National Pension Scheme, NPS is different from the existing pension scheme because the money invested in this pension fund is invested in the share and brand market. The profit received under the pension scheme depends on the fluctuations of the market, long-term investment in the National Pension Scheme has proved to be very beneficial for the applicants. If the applicants make regular investments in the NPS account, then they get a good profit.

There are two types of accounts in NPS?

At present, two types of accounts are opened under the existing National Pension Scheme scheme, Tier 1 account and Tier 2 account.

Tier 1 Account:- Tier 1 account is mandatory for NPS account holders, while Tier 2 account is optional.

Customers get tax exemption in TIYAR 1 account, while it is necessary to have a Tier 1 account to open a Tier 2 account.

It is mandatory to deposit at least ₹ 500 per month in Tier 1 account, according to this, ₹ 6000 can be invested annually in Tier-1 account.

If investment in Tier 1 account is stopped in the middle, then the account may freeze and to restart it, a penalty of ₹ 100 per year has to be paid, while tax benefit is not available in Tier-2 account but Tier It is possible to withdraw money from the 2 account at any time and this account works as a mutual fund.

Documents and its forms for opening an account in NPS?

Account in NPS can be opened with the help of POC or service provider and investments related to it can also be made by them. There are banks and select financial institutions service providers who work to open NPS accounts. You can see the list of service providers by visiting the NSDL/NSDL side, as well as download the application form for NPS from the NSDL website itself. You have to submit KYC documents along with the form, after which you are issued a Permanent Retirement Account Number ie PRAN number, after the PRAN number is issued, you can start investing under this scheme. Huh . Businessmen can also invest for NPS now.

Who can invest in National Pension Scheme?

Corporate employees can privately invest in the National Pension Scheme, even companies can invest in this scheme in the name of their employees. Contribution of investment made by companies for employee is also exempted from tax, even EPF as well as NPS can be invested and the age of investment in NPS is 18 to 65 years. Investment in National Pension Scheme n.r.i. A person can do it too.

Benefits of National Pension Scheme.

Tax benefit is the most important in the NPS scheme, under the National Pension Scheme, tax benefits are available in 2 ways, first basic salary and second, 10 percent of DA gets tax exemption on NPS investment. Under the NPS scheme, exemption can be availed up to 1.5 lakh under section CCD-1, an additional exemption of Rs 50000 is also available under 80CCD 1(b). Even if the corporates also contribute for their employees, then tax benefit is also available under 80ccd on it.

Now we hope that you must have come to know all the things related to NPS i.e. National Pension Scheme. If you want to ask anything related to this scheme, then you can ask through comment.

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