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Retirement & Pension

The National Pension System (NPS) is a voluntary, long-term retirement savings plan set up by the Government of India. It helps team members build a secure retirement fund by making regular contributions throughout their working years. The system is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

NPS follows a defined contribution model, meaning your team members retirement savings grow based on how much they contribute and on the returns generated by market-linked investments.

  • NPS

    Employees can contribute to their NPS account in two ways:

    • Direct contribution: Employees can contribute a percentage of their basic salary directly through the Protean portal.
    • Payroll deduction: Employees can also choose to contribute a percentage of their basic salary through salary deduction, which Remote processes on their behalf.

    Employees can contribute through either payroll deduction (managed by Remote) or direct contribution (self-managed).


    NPS offers several tax advantages under Indian income tax law:

    • Citizens can claim a deduction of up to ₹1.5 lakh under Section 80CCD(1) (part of the overall Section 80C limit).
    • Citizens can claim an additional ₹50,000 under Section 80CCD(1B), which is over and above the Section 80C limit.
    • Employer contributions are tax-exempt under Section 80CCD(2):
      • Under the old tax regime: up to 10% of your salary (basic + dearness allowance)
      • Under the new tax regime: up to 14% of your salary (basic + dearness allowance)

    These benefits make NPS a tax-efficient way to save for retirement.