As you all know, there are many pension schemes in the country, under which many people invest as future employees and in business. The main objective of the scheme is to deposit a huge amount of money in old age so that those people do not have to lend a helping hand to any other person in old age. Employees Provident Fund and National Pension Scheme are similar types of pension schemes which are availed by many people. There are many differences between Employees Provident Fund and National Pension Scheme. There is a scheme in the Employees Provident Fund Organization which is an interest rate based guaranteed scheme.
On the other hand, NPS is a type of market based investment plan. Let us tell you that many employees face the problem that they do not know how to transfer the cash in the Employees Provident Fund account to the NPS scheme. Let us tell you all the detailed information about these. Let us tell you that you do not need to worry about this because today we are here to tell you all the easy way to transfer money from Employees Provident Fund Organization to National Pension Scheme. Are.
Know what is EPFO and NPS scheme
Get information about Employees Provident Fund Organization and National Scheme. Let us tell you that under Employees Provident Fund, any government or private employee deposits 12% of his basic salary in the PF account. In this, not only the employee but also the employer deposits the employee’s money into the employee’s account. If we talk about NPS, it is a scheme in which all Indian citizens between the age of 18 years to 70 years can invest. After investing the fixed amount in this, they are able to avail the benefits of all the pensions.
Transfer money from EPF to NPS in this way
To transfer money from Employee Pension Scheme to National Pension Scheme, the employee can transfer the cash in his EPF account to Tier-1 NPS account. For this, all you have to do is submit a request transfer form to your employer.
After that this form is sent by the employer to the Employees Provident Fund Organization office. After which the Employees Provident Fund Organization completes the further process and completes the job for the employee.
