Guys, can anyone tell me if this PWC RFB, NPS is paid monthly (included as part of basic salary) if we opt out of it?

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It’s just an advantage given to you to save some tax. If no declaration is done, it’ll be paid monthly like your basic component and will be taxable.
You can declare some part of RFB for tax saving by investing in Corporate NPS(I personally do), or if you own a car on your name, you can submit fuel bills. You can give Internet bills or postpaid mobile bills. If declared, that amount will not be given to you as part of your salary. It’ll be given on submitting the bills. If no bills submitted after declaration, the amount will be credited to your account at end of financial year after deduction of tax.

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I think yes, btw may I know your YOE?

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