IC83 Study Notes | Page: 47

The highest amount that can be deposited in PPF account is Rs. 1,50,000. Tax bracket for PPF is EEE. So contribution is exempted under 80C, Interest earned is tax exempted and withdrawal is also tax exempted.
In order to provide social security to more citizens the Government of India has started the National Pension System. A citizen of India, whether resident or non-resident can join NPS subject to the following conditions: Subscriber should be between 18-60 years of age as on the date of submission of his/her application, SUbscriber should comply with the prescribed know your customer (KYC) norms as detailed in the subscriber Registration Form.
Points of Presenceare the first points of interaction of the NPS subscriber with the NPS architecture. The authorised branches of POP, called Point of Presence Service Providers, act as collection points and extend a number of customer services to NPS subscribers.
The recordkeeping, administration and customer service functions for all subscriber of the NPS are being handled by the National Securities Depository Limited (NSDL), which is acting as the Central Recordkeeper for the NPS.
As per the guidelines of Pension Fund Regulatory and Development Authority(PFRDA) or Ministry of Finance, the subscribers can withdraw from NPS on his/her retirement, resignation or death.

Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam