Can a CG employee covered under GPF (Old Pension scheme) opt to open NPS a/c with any bank and claim 80CCD1B deduction for his contribution. If yes, authority?. Earlier PFRDA has said that it can be allowed. But my contention is PFRDA is the marketer of NPS and they cannot say about 80CCD1B deduction. It is to be notified by CBDT only.
NPS is applicable to following people
1. CG emp appointed on or after 1.1.2004
2. Employees of another employor
3. Any other individual
So, I interpret that CG emp appointed before 1.1.2004 are eligible for 80CCD1B.
1. how can individual be a member of 2 pension schemes.
2. Such individual will not have matching contribution of employer
3. IT dept has never clarified on this behalf