Regulatory Charges Explained

In an era where financial transparency is vital, we understand the importance of being open and clear about regulatory charges. At PensionBox, we commit to providing a precise breakdown of fees, ensuring our users have a complete understanding of their financial contributions.

To begin with, we don’t impose any regulatory charges while planning and tracking PF, FD, EPF, or an existing NPS account. Meanwhile, let’s understand the regulatory charges imposed when our users invest in NPS or any pension products.

Account Opening Charges-

No regulatory charges are incurred when opening a PensionBox account.

Platform Charges-

No regulatory charges are incurred when planning your retirement & tracking your savings on an existing NPS account.

Withdraw Charges-

There are no regulatory fees associated with the withdrawal process.

Transaction Charges-

Regulatory charges applied while starting SIP or one-time contribution, the breakdown would be as:

Let’s assume the contribution amount to be: ₹10,000

Then the regulatory charges will be levied as such,

Processing fee charged : ₹30 or 0.25% of contribution i.e. ₹10,000 = ₹30

= Hence, ₹30 is applicable in this case.

GST (18%): SGST 9% of ₹30 = ₹2.7 + CGST 9% of ₹30 = ₹2.7

= 18% of ₹30 will be ₹5.4

Hence, the total amount payable will be: ₹10,035.4

NPS Account Opening Charges-

Talking specifically about NPS Tier I Account, there are certain regulatory fees associated with it:

One-time account opening fees (will not be charged again): ₹200

Processing fees: 0.25% of the contribution amount or ₹30, whichever is higher

Additionally, a GST of 18% is levied on these fees.

Charges applicable for NPS Tier II Account:

1. For opening the account, no regulatory charges are applicable.
2. Other regulatory charges while contributing include 18% GST (SGST 9% + CGST 9%) and a processing fee of Rs.30 or 0.25% of the contribution amount, whichever is higher.

Digital Gold Charges-

A GST of 3% is applied to the total amount of Gold purchased, following regulations.

Support Charges for PF Assistance Requests:

Support for PF-related requests involves regulatory charges based on the type of request raised (such as data correction, merger, or withdrawal).

For example, if the PF withdrawal fee is ₹2000, a GST charge of 18% applies as per the regulations. Once the issue is resolved, you'll receive an impressive 50% discount from us on the original cost of the PF service as requested.

:- Please note that this breakdown simplifies the regulatory charges associated with various operations related to NPS accounts, PF requests, and other financial transactions.

Our Transparency Policy:

Our commitment to transparency extends beyond the initial contribution, as we aim to empower our users with a detailed understanding of their financial contributions with us. While our base fees are transparent, it is essential to highlight potential regulatory charges.

We believe that transparency builds trust. We want our users to feel confident and informed about the financial contributions they make to us. To achieve this, we have described ensuring all the regulatory charges are clearly communicated and quite understandable.