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Withdrawal of nps
can a person withdraw all his contribution from nps without contributing towards annuity??
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If the NPS contribution is towards tier-1, the partial withdrawal to an extent of 25% of the contribution is exempted under section 10(12B) subject to following conditions
The Partial withdrawal shall be allowed for specific purposes such as higher education of children, marriage of children, purchase or construction of residential house or for treatment of specified diseases.
Individual should have subscribed to NPS for at least 10 years.
Maximum of 3 withdrawals during the entire tenure are allowed.
Minimum gap of 5 years is required between the two withdrawals. However, this condition shall not apply in case of withdrawal for treatment of specified illness.
entire contribution cannot be withdrawn
The Partial withdrawal shall be allowed for specific purposes such as higher education of children, marriage of children, purchase or construction of residential house or for treatment of specified diseases.
Individual should have subscribed to NPS for at least 10 years.
Maximum of 3 withdrawals during the entire tenure are allowed.
Minimum gap of 5 years is required between the two withdrawals. However, this condition shall not apply in case of withdrawal for treatment of specified illness.
entire contribution cannot be withdrawn
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