Accounting for NPS
This query is : Resolved
04 May 2011
Hi,
I have opened NEW PENSION SYSTEM (NPS) Tier-I pension account.
I am regularly making contribution to this account.
Contribution is invested after deducting charges is invested in Funds chosen by me.
Units are alloted to me just like Mutual fund.
There is no fixed interest payment for NPS contribution.
Also value of units in my NPS account will increase or decrease depending up on NAV.
For Example I am making contribution of Rs.50,000/- during the financial year 2010-11.Value of these units as on 31-Mar-2011 is Rs.55,000/-
Can u please tell me how to account for this in my books of accounts.
I have opened NEW PENSION SYSTEM (NPS) Tier-I pension account.
I am regularly making contribution to this account.
Contribution is invested after deducting charges is invested in Funds chosen by me.
Units are alloted to me just like Mutual fund.
There is no fixed interest payment for NPS contribution.
Also value of units in my NPS account will increase or decrease depending up on NAV.
For Example I am making contribution of Rs.50,000/- during the financial year 2010-11.Value of these units as on 31-Mar-2011 is Rs.55,000/-
Can u please tell me how to account for this in my books of accounts.
07 July 2023
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