The Government of India puts forth an expound and beneficiary scheme that aims to furnish various retirement solutions. NPS or National Pension System pins a certain user group and focuses on the retirement woes consumed by the serviceable citizens in the country. An NPS account can be opened methodically in two ways:
- NPS Account using PAN Card
- NPS account using Aadhar Card
This scheme accumulates the savings into a pension fund, later approved by the Pension Fund Regulatory and Development Authority. This fund is traditionally invested by the fund managers and added into various shares, government bonds, bills, etc. The returns made as a part of the investment would help you grow over the years.
To Know How to NPS Login
| NPS Account Login Process using NSDL |
Table of contents
Offline Procedure to Open an NPS Account Using PAN Card:
If you want to open an NPS account through an offline medium, the following steps can be walked on:
- The process would begin by finding a “Point of Presence” or (PoP) which would, in turn, help any individual subscribe to the scheme.
- Then you need to fill out the application form and necessary details in the provided documents accordingly.
- The contribution amount begins from Rs. 500 and a Permanent Account Number (PAN) is provided.
- A welcome kit would also be provided with the required passwords.
Online Procedure to Open an NPS Account:
It is an obvious quote to state that the online procedure is a lot easier. With the online procedure, individuals can use their PAN card and Aadhaar Card to register conveniently. Candidates can also apply for an NPS account by following the steps listed below:
Candidates must visit the NPS Trust website and process their registration using their Aadhaar or PAN number.
Opening an Online NPS Using PAN Card:
- Provision of email address, bank account and mobile number has to be done. The option of PAN number can be listed with PFRDA, which also makes you avail of the net banking facility.
- Once the documents are provided, KYC verification can be done then. For KYC, the banks would charge a fee of Rs. 125 along with the provision of additional address verification.
- Interbank verification details have to be processed as a resultant.
Opening an NPS Account Using Aadhar Card:
You can visit the e-NPS portal using an Aadhar card to open an NPS account. You can click on “National Pension System”, then select “Registration”. Later, you can select the Individual Subscriber or Corporate Subscriber category.
Procedure to open an NPS account using Aadhar Card:
- After providing their Aadhar number, the candidate would receive an OTP or One Time Password on their mobile phones.
- After the bank details are verified, an initial payment will be made.
- With Aadhar, a photograph will appear directly. However, a photograph and a digital signature will be uploaded anyway.
- Individuals can invest online, and a contribution will be made accordingly.
- After completing the above process, the candidates will print the NPS form and paste their photographs. After signing and ensuring the form submission, the form must be submitted to the National Securities Depository Ltd. This has to be done in ninety days.
Frequently Asked Questions (FAQs)
Is PAN Card important for NPS?
To set up an NPS account, the applicant must own and enhance the Permanent Account Details (PAN).
Can NPS be Opened Without Aadhar?
Since January 2019, the Aadhaar based registration for an NPS account has been crippled. It is essential to note that complete KYC verification must be done if the registration is not based on Aadhar. This KYC verification needs to be linked to your PAN through the bank.
What Does an eNPS Account Mean?
The NPS Trust introduced eNPS as an online platform, which would empower people to initiate their Tier 1 and Tier 2 Pension Account Number. This would also benefit the existing and new subscribers to contribute to their Pension Account Number under the NPS using Netbanking.
Can an NPS Account be Opened Offline?
Opening an offline NPS account would require the candidate to fill out a registration form with a POP. The registration form can be collected from any node of Present Service Providers. If you wish to enquire about the nearest POP-SP to you, you can visit the NSDL or the KEINTECH website.
What is a Cancelled Cheque in NPS?
A cancelled cheque is a blank cheque with “cancelled” mentioned and cannot be used to withdraw money.
Is an NPS Card Used as an Identity Card?
The Permanent Retirement Account Number (PRAN) offers you to register for your NPS account. This account would be used further as your user ID so that you can log in to the eNPS-NSDL website.
Is KYC Important for NPS?
On the 27th of May, the Pension Fund Regulatory and Development Authority issued a press release. This quoted the Aadhar-based offline paperless process of KYC. This novel methodology also brought new subscribers under the NP system (National Pension System). The process also requires you to enquire about the ITR filing for FY 2020-21.
What is the Difference Between NPS and eNPS?
NPS traditionally fathoms the results from members or customers. On the other hand, eNPS gauges employee company ratings and results. Summing up, it is feasible to understand that NPS and eNPS differ in their survey audience.
Which is a Better One to Opt for? eNPS or NPS
It is important to note that the application of NPS is higher as compared to eNPS. While the eNPS results are lower than NPS, many work environment studies discuss more concrete questions than the NPS system and have more bandwidth.
Can one Invest More Than 50000 in NPS?
For an investment up to Rs. 50,000 in an NPS Tier 1 account, an additional deduction can be made to make NPS subscribers avail subscriptions under subsection 80CCD (1B)
