National Pension Scheme India is a voluntary and long-term
investment plan for retirement under the purview of the Pension Fund Regulatory
and Development Authority (PFRDA) and Central Government. This pension program
is open to employees from the public, private and even the unorganized sectors
with the exception of those from the armed forces. You can claim any additional
up to Rs 50,000 under section 80CCD(1B) as NPS tax benefit. The scheme,
therefore, allows a tax deduction of up to Rs 2 lakh in total. You cannot
withdraw the entire corpus of the NPS scheme after your retirement. You are required
to keep aside at least 40% of the corpus to receive a regular pension from a
PFRDA-registered insurance firm. The
remaining 60% is tax-free.
How to Open NPS Account Online
1. Go to the
eNPS website . Click on “Click Here” to begin
registration.
2. In the window below select New Registration. Choose
individual subscriber, Tier 1
only. Enter PAN number and select a Point of Presence that
you want to open an
NPS Account with (preferably your banking partner). If your
bank is not showing as
an option in the drop down menu you may have to choose
another bank or go
through offline mode. Press continue.
3. Enter all the details as mentioned in the different tabs
and click on save and
continue. Under nomination details you will be asked to
choose a pension fund
manager and select from a mix of different asset classes and
specify the proportion
of investment you want in a certain asset class.
4. Under document upload you have to upload a scanned copy
of cancelled cheque of
the bank that you chose as POP. Also upload a scanned copy
of PAN card.
5. Under photo & Signature you have to upload a scanned
photo and also upload your
scanned signature.
6. Under payment details you have to make the payment
(minimum payment of Rs.
500/-) to activate your NPS account. Payment has to be via
net-banking of the POP
you selected.
7. Once the payment is done you have the option to “Esign”
the form. The
authentication is done via Aadhar based OTP. If this process
is successful the
subscriber need not send a hard copy of their forms to NSDL.
8. If “Esign” feature is not working for any reason, you may
have to take a print and
sign the form and sent it to the address mentioned on the
website.
9. PRAN is allotted immediately after payment is done. PRAN
card is sent after
verification of documents.
Hope this will help....
