NPS Account Opening
NPS Account Opening
National Pension Scheme launched in January 2004 is a scheme sponsored by the Government of India – in which an eligible citizen can contribute to a pension account regularly to receive benefits after retirement. The scheme is available to citizens of all section who are aged between 18-60 years from 2009. In this article, let us take a look at the procedure to open an online NPS Account.
Required Details
- Personal Details
- Enter Captcha Code
- Acknowledgement
- Contact Details
- Bank Details
- Nomination Details, if any
- Scanned photograph and signature
Registration Procedure
The registration to open an online NPS account can be done via
Registration using Aadhaar
Step 1: The applicant should have an Aadhaar Number that has to be registered with the mobile number.
Step 2: The applicant’s KYC in NPS has to be done using Aadhaar through One Time Password (OTP) authentication.
Step 3: The OTP would be sent to the applicant’s registered mobile number. OTP would be used for authentication purposes.
Step 4: Once OTP is verified, the applicant’s demographic details and the photo would be fetched from the Aadhaar database. These details are uploaded to the online form.
Step 5: The applicant has to enter all the required details.
Step 6: The applicant has to upload the scanned signature after entering all the details. The scanned signature gas to be in jpeg/jpg format with size between 4kb-12kb.
Step 7: If the applicant wants to replace the photograph from Aadhaar, he/she may do the same by uploading a scanned photograph.
Step 8: The applicant would be directed to the payment gateway. The payment can be made to the NPS account from Debit/Credit card or Internet Banking.
Registration using PAN (KYC verification by Bank)
Step 1: The applicant should possess a ‘Permanent Account Number’ (PAN).
Step 2: The applicant should have a bank account with the empanelled bank for KYC verification for subscriber registration through eNPS.
Step 3: The KYC verification would be done by the bank that is selected by the applicant at the time of registration. The name and address that is furnished while registering have to match with the bank records for KYC verification. If there is a mismatch, the request for registration would be rejected. If the same happens, the applicant has to approach the concerned bank.
Step 4: The applicant has to enter all the required details online.
Step 5: The applicant has to upload the scanned photograph and signature after entering all the details. The scanned photograph and signature have to be in jpeg/jpg format with size between 4kb-12kb.
Step 6: The applicant would be directed to the payment gateway. The payment can be made to the NPS account through Internet Banking.
For NRI subscribers:
- The applicant has to select the Bank Account Status: Non-Repatriable account or Repatriable account.
- The applicant has to provide NRE/NRO bank account details and upload the scanned copy of the passport.
- The applicant has to select the preferred address for communication, i.e. the overseas address or permanent address. However, an extra charge would be levied for communication at the overseas address.
Once the Permanent Retirement Account Number (PRAN) is allocated, the subscriber can use the following options.
Option 1: eSign
For Tier I PRANs that are generated through Aadhaar, the applicant has the option to eSign the document by following the given below steps.
Step 1: The applicant has to select the ‘eSign’ option in the eSign/Print and Courier page.
Step 2: An OTP would be sent to the registered mobile number that is linked with the Aadhaar. This OTP can be used for authentication purpose.
Step 3: Once the authentication of Aadhaar is completed, the registration form can be successfully eSigned.
eSigning charge costs Rs. 5 with applicable GST.
Note: There is no requirement to send a physical copy of the eSigned document to CRA.
Option 2: Print and Courier
Step 1: The applicant has to select ‘Print and Courier’ option in the eSign/Print and Courier page.
Step 2: The applicant has to take out a printout of the form, affix photograph the signature.
Step 3: The applicant has to sign on the space that is provided for the signature and not across the photograph.
Step 4: The photograph should not be stapled or clipped to the form.
Step 5: Once the form is completed, it has to be sent within 90 days from the date of allotment of PRAN to CRA to the below-given address. Failure to do this makes the PRAN temporarily inactive.
Central Recordkeeping Agency (eNPS),
NSDL e-Governance Infrastructure Limited,
1st Floor, Times Tower,
Kamala Mills Compound,Senapati Bapat Marg,
Lower Parel, Mumbai – 400 013.
Service Charges
- The POP service charge would be applicable for KYC verification amount for Rs. 125 per subscriber with the applicable GST.
- The POP service charge would be applicable by contributing 0.05%; the minimum amount would be Rs. 5 and goes up to Rs. 5000 per transaction.
These service charges are not applicable for subscribers who are registered in eNPS through Aadhaar. GST would be charged separately.
