India, Feb. 19 -- Salaried individuals in India usually plan their retirement keeping in mind the National Pension Scheme (NPS) and the Employee Provident Fund (EPF). While anyone can opt for NPS, only full-time job holders can contribute to EPF.

Some employers provide options to employees to opt for both. Abe Abraham, Partner at Cyril Amarchand Mangaldas, told Livemint, "Not all employers offer NPS but if your employer does it, you can request them to make employer contribution part of your salary. You can have it along with employer and employee contribution to EPF, if you are comfortable with reducing your in-hand salary."

"While NPS is optional, EPF is mandatory in most cases," he said.

According to NPS rules, employees are not req...