CosmicMuffin
CosmicMuffin
22mo

Trending @Accenture; Opening nps corporate account

Hi Guys, It would be helpful if anyone can let me know the process of opening nps corporate account.

22mo ago
SwirlyBiscuit
SwirlyBiscuit

Additionally, to control NPS contribution you have additional levers like changing basic. If you understand these levers well you will benefit in long run. Understand both benefits and limits on all tools and review them timely. The bull run of past 3 years should not make you blind of risks of having exposure to equity (as most people make equity=mutual funds). Government also find a piece of pie when required. (debt mutual fund lost indexation benefit).

ZestyPickle
ZestyPickle

Dude, someone said it. I wanted to quit epfo, sadly can’t do it. So capping it to 1800 and 10% on nps seems like good option. I’m doing separate investments in mf and stocks as well. Thoughts??

PeppyCoconut
PeppyCoconut

Mail to npsinfo@icicibank.com asking for the process. They will take details and share form over the mail...

SwirlyBiscuit
SwirlyBiscuit

For all mentioning NPS is not a good option, you should understand how NPS works and how it's value changes as per your earning potential. It's meant for retirement and not a short term instrument. It's also, not meant for very large investment in one go.

Another way to look at it is when you invest into corporate NPS, it is done at a ~31% discount if you are in highest tax bracket. Additionally, it will give you returns similar to an average mutual fund if not top one and the gains will be non taxable as well.

Don't go with generic online advise. Consult a CA if you don't understand finance. Finances are personal for everyone and general advice should be taken with care.

GigglyPretzel
GigglyPretzel

Process is fine (you can check FAQs related to corporate PRAN and all from Allsec payroll website) , However it's not good in my opinion. I've also subscribed NPS corporate account (just for Tax saving) and now I'm regretting. You can't stop it untill your tenure in Accenture.
Also the % which you will set to deduct from your monthly salary, then you can't reduce it. So don't fall in trap with fancy words like NPS corporate account.. it's actually your monthly salary % from your pocket only, that's your money only in the name of corporate NPS..so it's better you invest from yourself so that you have control on own finance.

PeppyRaccoon
PeppyRaccoon

Don't fall for it just for tax saving . . Better to invest in a mutual fund

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