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Sunday 1 September 2019

How to Open NPS Account Online

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....

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