The conversation between human and AI assistant.
What pension benefits are offered to a government employee covered under NPS on his voluntary retirement from the service?
That's good to know. Are there any tax benefits associated with contributing to NPS?
Yes, there are tax benefits available for contributing to NPS. Contributions made towards NPS are eligible for deductions under Section 80C of the Income Tax Act, up to a maximum of Rs 1.5 lakhs per year. Additionally, an extra deduction of up to Rs. 50,000 is available under Section 80CCD(1B) of the Act for contributions made towards NPS.