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Bird flu confirmed in 17 districts of Rajasthan

6,595 birds found dead in the state between December 25, 2020 and January 24, 2021, as per Rajasthan Animal Husbandry Department.
The Economic Times
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| 24 January, 2021, 05:37 PM IST | E-Paper
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    PARTIAL WITHDRAWAL FROM NPS

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    • The assertion came following a petition to Prime Minister Narendra Modi from National Movement for Old Pension Scheme (NMOPS) Delhi unit president Manjeet Singh Patel, in which he raised several issues, including revival of the old pension scheme on account of low returns.

      The Points of Presence would identify the bank account number of the subscriber by 'Instant Bank Account Verification' through penny drop and also verify the uploaded documents. The CRAs and POPs are advised by PFRDA to develop the required technical functionalities in a time bound manner.

      Tier II is an add-on account which provides the flexibility to invest and withdraw anytime. The official documents do not explicitly mention about the taxation of the withdrawn amount and, thus, consider that any appreciation will be added to your taxable income.

      Cash transaction including deposits and withdrawal at branches, forex and government transactions have been impacted in many public sector banks where participating unions are strong.

      Before withdrawing money from your Employees' Provident Fund (EPF) account to pay off your home loan, there are certain aspects you need to consider. Some of these include your overall financial position; what percentage of your salary goes as EMI? etc.

      PFRDA has now permitted its intermediaries to use of Video-based Customer Identification Process (VCIP), in addition to the existing options, in order to further facilitate onboarding, withdrawals, exit and for processing of other related service requests of NPS Subscribers.

      Unless the problems facing the EPF are addressed, the scheme is headed for trouble and younger people should consider moving out to the more transparent and better managed NPS. The NPS also offers them the potential to earn better returns than the EPF which has a very small portion of its corpus in equities.

      "In the current Covid - 19 pandemic situation, considering that NPS subscribers may not be in a position to submit physical exit documents, the Nodal offices are advised to accept the scanned and self-certified images of documents through digital means," PFRDA said.

      The PFRDA, in a circular dated April 9, 2020, has declared coronavirus infection as a critical illness that is life-threatening in nature. Accordingly, partial withdrawal from NPS has been allowed for covering expenses related to the treatment of COVID-19.

      The Pension Fund Regulatory and Development Authority of India (PFRDA) on Friday said NPS subscribers will now be allowed partial withdrawal for covering expenses related to treatment of COVID-19.

      You have to be at least 18 years of age to make a partial withdrawal. You are allowed to partially withdraw money only after the completion of 5 policy years and also only if all due premiums have been paid on time and the policy is in force.

      NPS offers two types of accounts for an individual - Tier-I and Tier -II. It is mandatory to open a Tier-1 account to invest in NPS. However, there are certain conditions that must be met to make partial withdrawals from a Tier-1 account.

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