How to Open NPS Account Online?

 

 

 

 

 

 

Follow below Steps for eNPS – National Pension Scheme Online Account Opening :

1.     Click on registration link www.gujaratinfotech.com/nps

2.     Click on New Subscriber Registration

3.     This redirects to mynps.nsdl.com website

4.    Click on Steps for Registration (Read the step for smooth process for Registration)

5.     Close the Pop up.

6.     Scroll down to the bottom of the page and click on Registration tab

7.     Now Click on New Registration

8.     Fill details and click Continue to complete the process.

In case of Aadhaar Paperless Offline e-KYC based registration, the basic details like Name, DOB, Address and Photo would be auto-populated from the UIDAI database. There will be no separate KYC verification process.

On successful registration PRAN will be generated. The PRAN Card will be couriered to you along with other product details.

After Permanent Retirement Account Number (PRAN) is allotted, subscriber can use the following option for signature verification:

Option A: eSign

1.   Selection eSign in eSign/Print & Courier Page

2.  OTP for the purpose of authentication will be sent to your mobile number registered with the Aadhaar.

3.  After Authentication of Aadhaar, Registration form will be successfully eSigned.

4.  Once a document is eSigned, you need not send the physical copy of the form to POP.

5.  eSign service charges plus taxes applicable is Rs. 5.90.

Option B - Print and Courier

1.  Select 'Print & Courier' option in the eSign / Print & Courier page.

2.  You need to take a printout of the form, paste your photograph (please do not sign across the photograph) & affix signature.

3.  You should sign on the block provided for signature.

4.  The photograph should not be stapled or clipped to the form.

5.  The form should be sent within 30 days from the date of allotment of PRAN to POP address or else the PRAN will be 'frozen' temporarily.

 

Opening of the NPS Account:

Earlier, the prospective applicant had to approach a POP with KYC documents of

Photo ID Proof and Address Proof Address Aadhar Card. Requirement of documents is given at the back of application form. The amt of initial contribution is to be tendered to the POP by an A/c Payee cheque drawn in favour of designated bank a/c from which POP cannot withdraw any amt but can only remit the fund to NPS Trust.

Now the facility of opening of NPS a/c online (eNPS) is also available. This functionality provides the facility of opening the NPS a/c without a need to visit a POP. This facility is easy, quick and reduces the POP charges. This is a very convenient mode of joining the NPS online if the prospective contributor has:

• Aadhar Card
• Mobile number linked with Aadhar Card
• PAN Card
• Bank Account with net banking facility providing Payment Gateway Service
• Email ID

Gujarat Infotech Ltd, a PFRDA authorized POP since 2012, offers this facility under the name myNPS in collaboration of NSDL, a Central Recordkeeping Agency accredited by PFRDA.

The modality of this facility by using Aadhaar Paperless Offline eKYC is as under:

The applicant to keep ready the :

[a] Scanned copy of photograph (Option for Aadhaar based registration) and signature in *.jpeg/*.jpg/*.png format having file size between 4KB - 5MB each

[b] Scanned copy of PAN card and Cancelled Cheque in *.jpeg/*.jpg/*.png format having file size between 4KB - 2MB each

[c] Online payment of initial contribution (Minimum amount ₹ 500) through Internet Banking

[d] Subscriber can eSign the registration form. If it is not feasible, please print the form, paste your photograph (please do not sign across the photograph) & affix signature and send to NSDL.

[f] Government employees to approach their Nodal Office for opening NPS account

[g] Visit UIDAI website, generate and download the Aadhaar Paperless Offline e-KYC ZIP file. Remember the Share Code as the same is to be used while online registration.

 

Address for sending the authentication form: 

Central Recordkeeping Agency (eNPS)

NSDL e-Governance Infrastructure Limited,

1st Floor, Times Tower, Kamala Mills Compound, Senapati Bapat Marg,

Lower Parel, Mumbai – 400 013

 

The main features of All Citizen model can be summarized as under:

·   Inclusive eligibility for joining the system (Any citizen or NRI aged 18 to 60 years is eligible to join (up to 65 years with certain restrictions), irrespective of type of occupation or job/ sector of occupation or job.

·  Flexibility in amt of initial contribution to open the account, providing affordability to all category of income group of citizens (minimum amt to open Tier I a/c is Rs. 500/- and Tier II is Rs. 1000/-). No stipulation to maintain minimum balance in Tier II a/c.

·   Flexibility in minimum amt to be contributed every year (Mini Rs. 1000/- in Tier I account and Rs. 250/- in Tier II account)

·   Flexibility in numbers of contributions to be made in a year (Minimum 1, maximum – no limit)

· Exclusive Income Tax rebate under section 80CCD1(B) up to Rs.50000/- over and above Rs. 1,50,000/- available under section 80C.

· Employer co-contribution up to 10% of Basic and DA without any upper cap on amount is treated as tax free income of employees under Section 80CCD(2)

·  Low cost, No hidden charges.

· Balance between safety of fund, market based optimal return and risk mitigation

· Regulated by the Govt of India statutory body (PFRDA)

· Transparency in dealing with the contributors

·  Nomination facility

· Choice of Investment Mode based on the life cycle and risk appetite of the contributor with Auto Mode option.

·  Choice of Investment Mix

·  Choice of Pension Fund Manager, with an option, once in a year, to change

·  Professional Fund Managers

· Portability across geography, POPs (Point of Presence i.e. service Providers) and employers

· Online service portal for various services, including facility to view the status of the contribution made

·  Online payment of contribution

·   Partial withdrawal for permitted purposes

·   Premature closure with certain restrictions

·  Refund of the corpus to the nominee in case of death of the contributor

·  Add on facility of Tier II account to manage the surplus liquidity

·  Robust I T architecture to manage the fund from end to end with display of NAV on daily basis

·  Customer Centric Strict Service Level Agreement with POPs, providing for strict penalty in case of poor services to contributors of non-compliance of procedure.

·   Strong system for redressal of customer grievances at POP/PFRDA/NPS Trust level and if required, grievances could be escalated to NPS Ombudsman.

· Issuance of a card with 12-digit unique number (called Permanent Retirement Account Number or PRAN).

·    Issuance of Statement of Account, every year.

·   Contribution can be made if PRAN number is generated (in other words, no need to wait for receipt of the PRAN card).

The National Pension System, a voluntary defined contribution pension system, was launched in 2004 by Govt of India for providing a pension for Government employees for income security during old age. The system was extended to All Citizens in 2009 with a certain modification. Over the years, the All Citizens model has got momentum. The growth of the model is impressive as could be observed from the following table:

Year-on-Year (YOY) growth under NPS (All Citizen Model)
As on	Nos of Subscribers	Corpus Amt (Rs in Crores)
31-Mar-19	929931	9686
31-Mar-20	1251574	15012
Growth
Absolute	321643	5326
In %	34.59	36.40

 

 eNPS - Online Account Opening for joining National Pension Scheme

A better way to become Income Secured in old age

 

For more information and help in online registration,  contact Gujarat Infotech Ltd by email at nps@gujaratinfotech.com or on Mobile No. 8448444245 or use online chat on www.gujaratinfotech.com.

(The reader’s comments are welcome at gnpatel@gujaratinfotech.com)

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