When can a Government servant exit from Tier I of the New Pension Scheme?

• On or after the age of 55 years

• On or after the age of 58 years

• on or after the age of 60 years

• On or after the age of 62 years

Who will allot an unique 16 digit Permanent Pension Account Number

(PPAN) to the employees?

• DDO

• PAO

• IRDA

• CPAO

A Government servant is drawing pay ₹ 60,400 in Level 7 during the month of September, 2018 (DA 9%, HRA 24%, TPT 3,600 p DA). Calculate the NPS contribution recovered from his pay bill for September, 2018.

• 28,426

• 8,033

• 6,040

• 6,584

State whether a Government who joined duty after 1-1-2004 is eligible for encashment of leave salary after retirement under NPS?

• Earned leave, being a part of pensionary benefits will be credited to

  the pension account

• Not eligible for encashment

• The benefit of encashment of leave salary is admissible in terms of CCS (Leave) Rules

• Maximum of one month salary is eligible as encashment

Is Non-Practising Allowance (NPA) which is payable to Medical Officers, taken into account for the purpose of working out contributions to NPS?

• NPA is to be taken into account for calculation of NPS contribution

• 50% of NPA is to be taken into account for calculation of NPS

  contribution

• 25% of NPA is to be taken into account for calculation of NPS contribution

• NPA not to be taken into account for calculation of NPS contribution

What is the method followed for interest calculation on NPS accumulations?

• Interest is calculated quarterly

• Simple interest is calculated on monthly basis

• Savings Bank interest calculation method

• Simple interest calculated yearly

From which date is the revised rate of monthly contribution at the rate of 14% by Central Government given effect?

• 1-1-2019

• 10-12-2018

• 1-4-2019

• 31-1-2019

An Office Assistant in a Central Government office is drawing pay @ ₹ 40,400 from 1-8-2018 with special allowance ₹ 1,500, HRA 24%. He was sanctioned EXOL with MC for one month from 1-10-2018 to 31-10-2018. Indicate the amount of NPS contribution of the employee.

• ₹ 970

• ₹ 1,120

• No contribution to be made

• ₹ 4,404

What is the additional tax benefit under Section 80-CCD (1-B) for contribution to NPS from the Financial Year 2015 2016 ?

• 30,000

• 25,000

• 40,000

• 50,000

Who is called an annuity service provider under NPS?

• A Life Insurance Company registered and regulated by IRDA

• A Mutual Fund Authority

• A Nationalized Bank

• Private Banks approved by Government