Income Tax Exemption for amount withdrawn from NPS and EPF

Income Tax Exemption for amount withdrawn from NPS and EPF

NPS (National Pension System) and EPF (Employee Provident Fund) are retirement benefit schemes applicable for salaried employees. NPS is applicable for Central Government Employees who joined in the service on or after 1st January 2004 and private employees. Early withdrawals in EPF has been restricted with effect from 10th February 2016 at par with NPS