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)

                                                      =o=o=o=

How Online Training Benefits Students and Employees?

(I) Advantages of Online Training:

1. Outreach

The trainee is not required to visit the training centre so the distance between the trainees and the training centre is immaterial. The training can be imparted to trainees in far flung areas. The training courses available to urban trainees can be made available to rural trainees also.

2. Cost

The cost of setting up brick-and-mortar training centre is huge, particularly in urban places. The scope of putting this infrastructure to multiple uses is also limited. Recurring cost on salary, overheads, etc are also very high. Online training facility is comparatively cheaper and can also be utilized to deliver various types of training from the same facility. It requires less manpower than traditional training facility.

3. Availability of more time slots

As the cost of imparting training is lower, the centre can run more batches in a day for the same topic. The students can choose the batch as per the time available to them. This flexibility is very important for working individuals, students, housewives, etc.

4. Saving time and money on travelling

The trainee need not spend any money or time on travelling. This is very important factor for students living far from the training center.

5. Better comfort of learning

The trainees can enjoy the comfort available at their office or residence. Many training centers can not afford to provide such facilities e.g. AC, ambience, tea, snack, parking space, etc.

6. Easy availability of Learning Material

As most of the learning material will be in the form of softcopy, it is easily available to the students.

7. Variety of courses

Online training facility can offer a rich bouquet of training courses as the cost of launching is low and mustering the required numbers of training is easier than a traditional classroom courses.

8. Benefits of competition

Online training is a viable business activity. This has attracted established business houses as well new startups to provide online training. This has brought the benefits of competition to the trainees it terms of price, quality, services, variety, Post Training Placements, etc.

 

(II) Disadvantages of Online Training:

All said and done, the Online Training has following disadvantages/limitations also which could be attributed to the very nature of the concept.

1. Poor Interaction with the trainer

Though interaction on real time basis is practiced in online training but it is not so “real” as what a trainee experiences in a brick-and-mortar classroom. This inhibits the learning process, particularly for the laggards.

2. Difficult to sustaining the interest

If the trainees are not self-motivated or have a compulsion to complete the training successfully, it is difficult to retain them till the end of the training course. Self-discipline and self-motivation are the prerequisites for meaningful online training.

3. Difficulty in providing practical training

Practical training requires a lab/ workshop/ infrastructures / tools as per the nature of the course. This is not possible in most of the cases. Practical training also requires the physical presence of a trainer to demonstrate how the things are done. This is also not possible in online training.

4. Non-availability of facilities required for online training

Online training requires modern gadgets, high speed internet connectivity/ mobile connectivity. These may not be available to some section of the trainees.

 5. Absence of Group Dynamics

The trainees are located at different places. They never have a feeling of a group. The trainee does not get support from his/her fellow batch mate in case of difficulty in learning. Likewise, the trainee also does not feel peer pressure to finish the assignment which otherwise he/she would have completed for fear of loosing a face in the classroom when the trainer lets him/her down in the presence of all batch mates. Lateral Learning (learning from the batch mate) does not take place.

6. Low weightage by employers

The prospective employers give low weightage to certificates acquired through online training even though the training is completed in due course and the certificate is accredited by the Government.

7. Difficulty in conducting examination

As the trainees are not physically present in the training facility, it is difficult to administer the examination test. Though the system does take the test, result is fraught with moral hazards.

8. Distractions

As the trainee is not coming to the training centre, he/she is vulnerable to various distractions e.g. friends, relatives, domestic work, family members, TV, Social Media, mobile, etc. All these hinder the learning as online learning is not so “engaging” and compulsive as a classroom learning.

Prospects of Online Training:

The market demand for skills is becoming very dynamic. As the technology and commerce is changing very fast, the employees are becoming redundant very frequently. To remain “fit for work”, not physically but skill-wise, a prudent individual, may be an employee or an employer, has to constantly upskill/re-skill themselves. This group of people cannot attend the “in class” training courses. This makes the future of online training very bright.

A few years back, Online Training was a preserve of corporate world and that too with limited use. Now it is expanding vertically and horizontally across the globe in all walks of life – starting from a kid of a primary school to an Executive of a company. Necessity is mother of invention. The invention is exploited fully and quickly without any aversion when there is a compulsion to put the invention to use.  Wide spread of accepting online education in the wake of corona virus is  a best example to understand the human nature when it comes to adopt the changes.

Online Training is also called eLearning or Distant Learning. It has many aspects like technology, tools, platform, pedagogy (the Science of teaching and learning), methodology, commercials, effect on traditional brick-and-mortar model of education, etc. The present blog is confined to discuss the advantages and disadvantages of online training from the perspective of trainees. Though the training and the education is separate sphere of learning, most of the aspects of online training are true for online education.

Online Training of all computer courses, foreign languages for students & corporate is available at www.jamsab.com.

(The readers comments are welcome at gnpatel@gujaratinfotech.com)

Safety Tips for Online Shopping

 

Cares to be taken while shopping online:

• Think carefully before you decide to buy a thing online. Think twice before you Click on Buy button: why you need to buy the thing. Do you really need it or there are extraneous factors influencing your decision to buy or just you are flush with fund. The consumer is certainly benefitted by sales promotion advertisements by the companies but they also irrationally drive the Hidden Persuader of each consumer just to go on online shopping spree.
• Beware of onslaught of advertisements and marketing tactics creating sense of deprivation in consumer’s psyche as the online shoppers are easy targets
• Compare the same / similar makes/ models/ brands on websites other than those of the manufacturer (Price, features, Warranty, Terms and Conditions, Payment Options, etc)
• Buy only those things which your liquidity can afford. It is prudent not to avail EMI schemes for buying unproductive things. This could damage your Credit Rating in future lest you should default in repayment.
• Deal only with reputed online shopping websites
• It is important to protect your identity when you are connected to bank, online shopping websites, Credit Card Companies, etc with which you share vital information.  
• Make sure that you are dealing only with a secure website. There are a few apparent and a few subtle features indicating whether the website is secure or not : URL of a secure  website begins with “https” instead of “http”,  displays an icon of closed padlock in the beginning of URL, green colour in the URL Address Bar/ green colour of the fonts of URL, etc. Right Clicking on the padlock pops up the details of SSL secure certificate details. On the other hand, poor design of the website, grammatical errors, absence of Street Address/ Contact Numbers, popping up of flashy ad, etc are subtle indicators of an unsecure website.   
• All said and done, bear in mind that secure website certification vouches the legitimacy of the website but it does not reflect any thing on the business activity of the website owner. Deal cautiously with Freebies, Online Multi Level Marketing (MLM) Schemes, online solicitation of investment under the promise of Fabulous Return, Online Lotteries.  
• Check the SSL Certificate
•  If you are new to this channel of shopping, consult an experienced friend / colleague.
•  If the offer is too attractive to believe: HANDLE WITH CARE, even though the payment is “Cash on Delivery”.
• Read all Terms and Conditions of sale, particularly hidden charges, before placing the order
• Consult an expert before placing the order of an item which is bit technical
• Make payment through, preferably, Credit Card or Debit Card if you do not have a Credit Card. Do not make direct fund transfer from your a/c to website account.
• Check your bank account and confirm the amount debited in your account.
• Preserve the receipt/ invoice/ bill / delivery challan.
• In case of defect in the goods or deficiency in services, advise the online seller immediately with full details.
• If you decide to return the goods and seek refund, exercise your right as a consumer as per the Terms and Conditions of sale.
•  Online Shopping is not confined to brand new products only. Online sale of second hand / used goods is also now gaining momentum. Explore it and weigh its pros and cons of buying such goods.

The Advantages of Online Shopping:

• Competitive price
• Wider choice
•  Saves time 
• Availability of Shopping Window for longer time: Round the clock, Round the Globe.
• Ease of consulting family members while zeroing in the selection of products/services
• Wider payment options, in terms of mode and period
• Saves the shoppers from issues of availability of vehicle, traffic and parking
• Home delivery
• No crowd to push into or queue to irritate the shopper
• No need to scout in the store to locate the goods to be bought
• More hygienic, particularly during epidemic 
• No need to bother about the distance from the supplier
• More Clarity about the Terms of Sale (if the shopper takes trouble to read fine prints)

The Disadvantages of Online Shopping:

•  Concerns regarding the quality till the product is tested / use
•  Concerns regarding the quantity at the time of delivery
•   Credibility of the online shopping sites, particularly new sites
•  Apprehension of phishing and Identity Theft (details of Credit/Debit Card, Bank Account, etc)
• Tendency for impulsive purchases (shopping without justifiable need of the things)  
•  No thrill of shopping which in-store shopping gives
•  Apprehension of breakage of fragile product
•  Delay in delivery (of course in few cases)

The Online Shopping has now changed the way the goods and services are purchased and delivered like the Industrial Revolution (1750 – 1850) had changed the way the goods were made before. Online Shopping has become a popular channel of purchasing goods and services during last 4 – 5 years amongst the techno-savvy people (may not necessarily be university educated people), particularly the young blood.  Of late, due to COVID-19 pandemic, there is an exponential spike in numbers of online shoppers, amount spent and varieties of goods (toilet paper to ornaments and jewellery) purchased. Most importantly, the pandemic has made the in-store shoppers, who were averse to Online Shopping, to resort Online Shopping. The total global sales volume of Online Shopping in 2019 was US$ 3.35 trillion (million million) which is higher than the GDP of all the countries individually except the USA, China, Japan and Germany. It is estimated that this volume will be double in 2022. The size of some of the Online Shopping companies and their growth rate is mind boggling.

The future of Online Shopping:

To put in one word: Bright. The concept is very dynamic – true for all subjects connected with information technology. Increasing computer literacy, consumerism, income level, urbanization, changing life style, improvement in last mile logistics, better warehousing facilities, inventions, fashion, etc will certainly provide required momentum in future. Warehouse robotics and Drone enabled deliveries will make the concept bloom in full colours.

(Comments of the readers are welcome. The blogger can be reached at gnpatel@gujaratinfotech.com)

"Disclaimer: The information given in the blog is only for general awareness and must not be construed as a professional advice. Readers are advised to consult the professionals in any subject matter of the blog before acting on the information discussed in the blog. The readers who are acting otherwise are doing so at their own risk."

=0=0=