Investment needs are unique to each and every Individual. No single financial plan would be suitable to everyone. It is necessary, that awareness is created. Such awareness ,created and understood , is the Individual’s responsibility, who undertake decisions and apply the same to their situations. This website or any Individual or entity related with this website , would not take or assume any liability towards the decisions undertaken by such individuals. Individuals are encouraged to make inquiries, validate such information, from available resources on both online and offline content , before undertaking any financial decisions. This website does not charge any fees for such services rendered. Information sought and sharing of such information is permissions based . The website focuses only on the NPS All Citizen model and the Corporate model only as more awareness needs to be created on this models. Government model and the erstwhile NPS swavalamban model (Now Atal Pension Yojana ) are already being undertaken by the Government agencies through their own network and marketing channels.
The eligibility criteria for NPS is available only to the Individuals. It is not available to other entities such as HUF or Partnership firms. All such Individuals need to be meet the below conditions ,wherein the INDIVIDUAL is
Note : No contributions can be accepted , beyond the age of 65 years , even if there is an ability to pay. The scheme ends for the subscriber on attaining or completing the age of 70 years. NPS Services can be availed upto the age of 70 years.
The NPS was extended to all citizens of the country w.e.f. 1st May, 2009 including self employed professionals and others in the unorganized sector on a voluntary basis which includes all the non resident Indian citizens of the country. PFRDA ( Pension fund regulator for India ) has clarified vide notice PFRDA/2015/14/POP/03 dated 28th May, that the following categories are ineligible for the opening of NPS accounts. They are as follows
Care should be exercised at the time of account opening. Opening of above such accounts is not permitted under the regulations. Accounts opened under these categories are invalid.
In a true sense the NPS can be extended to the following categories of people like
The above list is a suggestive list as to communicate the idea and increase the scope of the reach of NPS. It can include any person who meet condition A in any part of India.
All employees of the below mentioned Entities , meeting the criteria of Condition A , are also eligible to apply to subscribe to the NPS corporate model. It is necessary for the below entities to register with the CRA . They need to provide only the certificate of incorporation , Pan card of the entity and a Nodal officer contact details with a mail Id. On successful registration, CRA will allot two codes to the entities which are to be used by their employees in their Subscriber application form. Such employees can get an additional tax benefit to the extent of 10% of the basic, once they start contributing to the NPS. There benefit is not available, if a subscriber applies successfully for NPS and her corporate does not register.