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1↦ NPS - Deductions / Taxability & Tax Treatment on withdrawal 2↦ NPS Partial Withdrawal Norms & Form
NPS Calculator - All Citizen
For Employees (Bank / PSU / Central-State Govt.)
- This NPS calculator illustrates the tentative amount of Wealth on Retirement, Corpus or Lump Sum amount and Pension an NPS subscriber may expect on maturity or 60 years of age based on regular monthly contributions and assumed / estimated rates of percentage of return.
- Calculate growth of your NPS Investment, Wealth on Retirement, Tentative amount of Corpus and Pension on Retirement and When you will Submit your details entered in this calculator, year wise Estimated Growth Table will auto display under the calculator and same will auto hide when you refresh / reset your details entered.
- In addition to above benefit NPS investment saves your tax which may also be considered as return on NPS investment. Furthermore, if you have exhausted the tax deduction limit of 1,50,000 (u/s 80C), you can avail tax deduction of additional 50,000 (u/s 80CCD) by investment in NPS.
- We have also provided a NPS calculator of employees of Govt Sectors and corporate sector (banks employees are covered under corporate model of NPS) where employer contributes matching contribution in NPS of employees. To view and use this calculator Click Here.
- You must go through - Some Important point of NPS, provided below NPS Calculator
When you Submit your details entered, year wise Estimated Growth Table will auto display here
Some Important point of NPS
- In case of Central Govt Employees / State Government Employees / Corporate Sector Employees - The monthly contribution amount would be 10% of the salary and dearness allowance (DA) to be paid by the employee and matching contribution by employer. The contributions and investments would be deposited in the Tier I of PRAN.
- NPS rule: Minimum 40% of the Pension Wealth to be kept invested in life annuity on retirement
- There is no fixed monthly pension or a guaranteed pension amount under NPS. Pension Wealth will vary depending on various factors like investment duration, returns on asset classes, retirement age, etc. Monthly pension amount will depend on the annuity plan you choose at the time of retirement/exit from NPS.
Types of annuities providing for monthly pension available to the subscribers of NPS are :-
- Pension (Annuity) payable for life at a uniform rate to the annuitant only.
- Pension (Annuity) payable for 5, 10, 15 or 20 years certain and thereafter as long as you are alive.
- Pension (Annuity) for life with return of purchase price on death of the annuitant (Policyholder).
- Pension (Annuity) payable for life increasing at a simple rate of 3% p.a.
- Pension (Annuity) for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Pension (Annuity) for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Pension (Annuity) for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant and with return of purchase price on death of the spouse. If the spouse predeceases the annuitant, payment of annuity will cease after the death of the annuitant and purchase price is paid to the nominee.
- A subscriber can not change the annuity service provider, once selected
- In case of death of subscriber opted annuity, the annuity plan depends on the kind of annuity plan opted by the subscriber. For an example, if the annuity plan is joint life annuity plan, on death of subscriber, the spouse will get the annuity till he / she is alive.
- In case of death of the subscriber, check the annuity plan opted by the subscriber and exercise accordingly,
- Disclaimer: The above calculations are indicative or estimated values only and not on actual basis.