The National Pension System (NPS) is a retirement savings scheme launched by the Government of India to provide a steady income to individuals after they retire. The budget changes for FY 2024-25 increased the deduction limit for contributions to the New Pension System.
The new regulations raise the limit to 14% of the employee’s salary. This change applies only to the New Tax regime, enabling employees to get higher tax deductions for their NPS contributions.
Looking for More Support?
Find answers and insights across our resources. Refer to our detailed Knowledge Base for in-depth articles, explore our practical video guides, and stay informed with our latest product updates.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article