With NPS you can save up to INR.1,50,000 under 80C and once it gets exhausted you can save additional tax of INR.50,000 under 80CCD.
Every NPS subscriber is issued with a card having a 12-digit unique number called Permanent Retirement Account Number or PRAN.
If you do not contribute the minimum amount, your account will be frozen. You can unfreeze the account by reaching out to the POP and pay the minimum required amount and a penalty of Rs 100
The government will not contribute to your NPS account.
if the subscriber dies before the age of 60, then the entire accumulated wealth will be payable to the nominee or legal heir (in absence of nominee). This amount will be tax-free at the hands of the nominee/heir.
Annuity income will be added to current income and taxed per existing personal tax brackets.
There is no investment return guarantee. Returns in NPS are market-based. The benefits will entirely depend upon the amounts contributed and the investment growth up to the point of exit from NPS. It is also linked to asset allocation you choose.