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Here's is a step-by-step guide for EPF transfer to NPS

The proposal to transfer Employees Provident Fund (EPF) balance to National Pension System (NPS) tier-1 account was made in the Budget 2015 to allow employees to opt for either NPS or EPF. Following the proposal, PFRDA, the regulatory authority for
the administration of NPS issued a circular detailing the process. Here is a step-by-step guide on how to transfer EPF balance to NPS.

1) Open an NPS tier-1 account either through the employer or through Points-of-Presence (PoP), or online through eNPS portal: Points-of-Presence refers to banks or any other entities registered as PoP with PFRDA.

2) Once the NPS account is opened, you need to submit the transfer form to your employer, who will send it to the concerned EPFO nodal branch for initiating balance transfer from EPF to NPS.

3) EPFO after receiving the transfer request will initiate the transfer of balances in the EPF account. The retirement body will issue a cheque or draft in the name of the nodal office of NPS (if you are a government employee) or in the name of the PoP collection account (If you are not a government employee).

4) The nodal EPFO office will issue a letter to the employer mentioning the amount being transferred to the NPS tier 1 account of the employee. Your NPS account will be updated once the fund is received.

5) NPS will invest the amount as per your fund selection. You can opt for a maximum 50% allocation to equity instruments and remaining in debt schemes. While EPF provides a fixed return (decided every year), NPS returns vary between 7.5% to 14%, depending upon your fund selection and market condition.

Under NPS, a subscriber can enjoy tax benefits on annual investments of up to Rs 1.5 lakh under Section 80C and additionally up to Rs.50,000 under Section 80CCD(1B) of the Income Tax Act.

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