Achieving a perfect 50% duty cycle with the NE555 timer in astable mode is not possible due to its internal structure. The voltage control pin (pin 5) affects the threshold voltage of the upper comparator, altering the charging time of the external capacitor, which in turn changes the oscillation frequency. To achieve equal ON and OFF pulses, one suggestion is to operate the 555 at double the desired frequency and use a divide-by-2 flip-flop. Alternatively, using a different oscillator may be more effective for applications requiring precise duty cycles. Understanding the relationship between control voltage and discharging time is crucial for optimizing performance.