RETIREMENT INDIA – Chapter 3

An organization of 40 workers want to set up an provident fund for retirement saving of its worker from whom it should take permission to get tax benefit similar to those of statutory PF?

Which of the following statement is correct regarding Employee Deposit Linked Insurance?

EPF falls under —category under Income Tax Act 1961.

Contribution made to EPF is exempt to the limit of—

The withdrawals done during the tenure of the fund for an emergency or marriage or education are:

—allotted to every member of the EPFO – using which he can manage his Provident fund account.

UAN is issued by—

National Pension System is regulated by —

Which of the following statement is correct regarding NPS account:Statement 1: It is compulsory for the NPS accountholder to invest in Tier 1 account and withdrawals are permitted from Tier 1 account within the term of the fund before retirement – except for special circumstances.Statement 2: One can open a Tier II account only post opening the Tier I. This is a voluntary account which a citizen can open under the NPS and the withdrawals are unrestricted

Which of the following statement is incorrect:Statement 1: All the contribution made to NPS both Tier 1 and Tier 2 account are eligible for tax exemption under Section 80 C and 80 CCD(1b)Statement 2: Only the contribution made to Tier 1 account is eligible for tax deductions under section 80 and 80CCD (1B)

Contribution to Tier 1 account in NPS is eligible for deduction under which of the following:

Pension received from the NPS fund is:

Under—the asset allocation of the subscriber’s fund follows a life-cycle based approach reducing the allocation to equities with the subscriber’s increasing age.

—are the initial points of contact for any subscriber wanting to activate an NPS account.

Which of the following is least likely a function performed by Central Record Keeping Agency?

Which of the following is least likely a function of NPS trust?

Which of the following is the function of Trustee bank:

Public Provident Fund is a— year product.

Public Provident Fund has a — tax status under Income Tax Act .

—– minimum and — maximum contribution limit to invest in PPF during a financial year.

WHO ARE ELIGIBLE TO OPEN THE PPF ACCOUNT?

FROM WHEN IS ONE ELIGIBLE TO MAKE THE WITHDRAWL FROM PPF ACCOUNT AND HOW MANY TIMES DURING A YEAR.

ELIGIBLE FOR LOAN FROM PPF

Under which type of annuity the policyholder begins to receive annuity payments immediately after depositing a certain lump sum.

Under which type of annuity the policyholder receives an annuity after a certain number of years after depositing a certain lump sum.

Market-linked investments from insurance plans are called—

Which of the following is not a feature of ULIP?

— is an autonomous body set up by the government of India to promote the insurance industry in India and protect the interests of the policyholders.

Under which of the following annuities will continue for a period of the policyholder’s lifetime or the guaranteed period whichever ends later.

AGE LIMITS FOR OPENING SENIOR CITIZEN SAVING ACCOUNT.

MATURITY TERM OF SCSS IS—-.A ONE TIME EXTENSION FOR —- YEAR IS ALLOWED.

MAXIMUM AMOUNTS OF INVESTMENT IN SCSS —–

POST OFFICE MONTHLY INCOME SCHEME HAS MATURITY PEROIOD OF —- YEARS. EXTENSION PERIOD—–.

All receipts under RML shall be —— from income tax