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Steps to Open an NPS Account

NPS
Aug 04, 2021 Alankit

When National Pension Scheme (NPS) was introduced in the country, the process was extremely intricate and tedious. But with the introduction of eNPS, the process is simplified and is now time-saving since it hardly takes not more than 30 minutes. So now an individual has an option of either choosing for an online subscription or doing it the traditional offline mode.

So What is National Pension Scheme?

National Pension System Scheme or NPS launched in 2014 is a voluntary Government-owned social security scheme that can be opened both online and offline and can be customised for employees working in public, private, or unorganized sectors except those in armed forces. The scheme comes under the jurisdiction of the Pension Fund Regulatory and Development Authority (PFRDA) and aims at offering monetary benefits as your pension.

Why Should We Subscribe to National Pension Scheme (NPS)?

For an investor, NPS suggests various financial benefits if you go for the scheme online. It is favourable for both the private sector as well as those of you who are planning to go for NPS online registration for government employees. Following are the few benefits you receive when you apply for NPS online scheme.

  • Flexibility
  • Low-Risk Investment
  • Assured Returns
  • Tax Saving Options
  • Contribution of Investors
  • Ease of Access
  • Well Regulated

Steps to Open NPS Account

There are two methods by which one can open an NPS Account:

Online: This can be done by visiting the website of NSDL. There are two routes through which you can register yourself to open NPS account online.

  • Aadhaar-based verification
  • PAN-based verification

Under this process, you need to upload the scanned copies of your documents, the scanned copy of cancelled cheques, your signature in specified formats, and your photograph online:

Offline: For opening the account offline, you need to fill and submit the CSRF forms with required KYC documents to the corporate employers. Once you have verified the details, they will send these forms to any of the Point of Presence Service Providers along with the documents stated above. POP then does KYC verification and sends these forms to Central Recordkeeping Agencies. CRA keeps the records of your NPS account and will send the subscriber’s PRAN and the details as provided in the Subscriber Registration Form. You will also receive a Telephone Password (TPIN) for accessing your account on the call centre number and an Internet Password for accessing your account through the website.

Alankit is the principal distributive point for NPS. We are handling and managing the subscriber requests, queries, complaints, and providing guidance, support, and all other services related to the NPS responsibly. Our team of professionals and experts embark on the responsibilities of initial subscriber registration, KYC verification, transmitting the information thoroughly to the designated mediators in a simple manner, etc. The process to apply National Pension Scheme online can be put down into six simple steps:

Step 1: The subscriber needs to refer to the link for registration in NPS at Alankit’s official website.

Step 2: He/she needs to provide a valid Mobile Number and Email ID.

Step 3: One should have an active Bank Account.

Step 4: Subscriber will have to submit scanned copy of Photograph, Signature, and Proof of Address.

Step 5: One should also submit a scanned copy of the PAN Card as Proof of Identity and Cancelled Cheque.

Step 6: The interested person will have to make an Online Payment of the initial contribution (Minimum amount ? 500) through Internet Banking, UPI, Debit Card, Credit Card.

National Pension Scheme registration is a good option for all those who want to plan early for their retirement and lead a healthy life without compromising on their quality of life. One can choose to apply for NPS either online or offline. However, offline seems to be a simpler way to get it done.

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