Is Govt. contribution to the Employee by Employer under New Pension Scheme is Taxable?

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The New Pension Scheme (NPS) has become operational since 1st January, 2004 and is mandatory for all new recruits to the Central Government Services from 1st January, 2004. Since then it has been opened to employees of State Governments, Private Sector and Self Employed (both organized and unorganized).P.VENKATA SIVA RAO, Banglore asks "Is Govt. contribution to the Employee by Employer under New Pension Scheme is Taxable?"