Opening NPS – National Pension Scheme Account Online – Full Procedure, How to Open National Pension Scheme Account Online. Details for Opening NPS Account Online. As you all know that this era is also named as the “Era of Technology”, most of the procedures have been made online to assist the consumers with better availability and any time access to it. Now every person to retire in rich atmosphere, as they have been working last many years and now its time to sit back and relax and so has the government brought the scheme of National Pension Scheme (NPS) which would need some premium amount now which would rip you more money at the time of retirement. I have mentioned here all the details about the scheme. Check more details about how to open National Pension Scheme Account Online from below….
Opening NPS – National Pension Scheme Account Online
How the NPS works ?
There is a monthly contribution or the premium amount which the account holder needs to pay. The money you have invested is invested in the stocks which you allocate. At the time or retirement, the holder gets some amount as lump sum and other amount as annuity every month. There are mainly two types of accounts available under which you can invest. These are :
- Non-withdraw able Account, in which you cannot withdraw any amount once you invest in it. It would be redeemed only after age or 60, i.e. at the time of retirement.
- Withdraw able Account, in which you can withdraw the money any time you require.
This account looks very much attractive as it offers distinct features such as investment, returns on it, withdrawal options and most important it offers the tax benefit to the account holder. The investment done in the NPS is exempt under Section 80CCD, this deduction has been proposed in the Budget 2015 and available for the assessee from financial year 15-16.
Pre-requisites for opening NPS Account:
Any person having age between 18 years to 60 years, whether resident of India or not, can open an account and start investing in it. The minimum amount investment in this scheme is Rs. 500 per month or Rs. 6000 annually. After age of 60 years, this scheme provides you the monthly amount as pension.
How to open NPS account online ?
Due to digitalisation, these account can be opened online without visiting the branch, subject to some conditions. There can be two ways through which the account can be opened.
- Aadhar linked or
- PAN card linked
The procedure for the both the account opening methods are different.
For Aadhar Linked Method –
By this method, you can open this account fully through online mode (i.e. you need not need to visit branch). The procedure to open it is as follows:
Step 1 – You need to visit the following website – https://enps.nsdl.com . From this website, you need to link the aadhar card, through which an OTP would be generated and through which you would require to authorise it.
Step 2 – As soon as you authorise the OTP, you would be able see all the details of your residence and the passport sized photograph.
Step 3 – You would be able to see the form behind that details. You need to fill that form with the all relevant documents attached in soft form.
Step 4 – You also need to upload the signature of yours in the scanned form.
Step 5 – Now you are all set for the account to be opened. You need to make the payment of the deposit amount, which you want to make in this account.`1
For PAN card linked Method –
This method is quiet cumbersome, because it requires you visit the branch. In the Step 3 above, some details need to be filled up in form of KYC requirements, which can be filled once you go to the branch and authorise it. Otherwise all the steps remains the same.
What to do after Account is opened ?
After the account is opened, you will be provided Permanent Retirement Number (PRAN) and the whole kit which would come through post at your residential address. You need to sign the document which you have filled up and send the document to the following address within 90 days from the date of allotment of PRAN.
Central Record Keeping Agency,
NSDL e-Governance Infrastructure Limited,
1st Floor, Times Tower,
Kamala Mills Compound,
Senapati Bapat Marg,
Lower Parel, Mumbai – 400013
So its basically very simple to open the account. This helps you open the account, wherever you are and whenever you want.