NPS Partial Withdrawal Form Under Tier 1 Account
NPS Partial Withdrawal Form Under Tier 1 Account PDF read online or download for free from the link given at the bottom of this article.
The NPS withdrawal limits are mainly determined by the type of withdrawal as well as the amount withdrawn from the NPS Tier 1 account.
In the occurrence of a partial withdrawal, the following are the important withdrawal guidelines.
Guidelines for the form
- To be eligible for partial withdrawal, a subscriber must have been a member of this scheme for at least three years.
- A minimum of 5 years should pass between any two withdrawals for a membership. Only in medical emergencies can this difference be closed.
- A member can only withdraw up to 25% of his or her contributions to this plan.
Only in extraordinary circumstances, such as the education of his or her children. wedding expenses, house construction, or medical emergency, is partial withdrawal permitted.
- During the duration of his or her membership, a member can only withdraw three times.
- Higher education for a child.
- The marriage of a child.
- Treatment for critical illness in oneself, one’s spouse, one’s children, or one’s parents who are dependent.
- First home purchase or building
- Accidents that result in death.
Only after ten years is it possible to withdraw. Three partial withdrawals are allowed, with a 5-year break between each.
To download the NPS Partial Withdrawal Form in PDF format, follow the link given below.