Govt con­tri­bu­tion to NPS will now be 14% of ba­sic pay

Millennium Post - - Front Page -

NEW DELHI: In a bo­nanza for gov­ern­ment em­ploy­ees, the Cab­i­net Thurs­day raised the gov­ern­ment's con­tri­bu­tion to Na­tional Pen­sion Scheme (NPS) to 14 per cent of ba­sic salary from the cur­rent 10 per cent, sources said.

Min­i­mum em­ployee con­tri­bu­tion will, how­ever, re­main at 10 per cent.

The Cab­i­net also ap­proved tax in­cen­tives un­der 80C of the In­come Tax Act for em­ploy­ees' con­tri­bu­tion to the ex­tent of 10 per cent, they added.

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