Alankit is proud to be an empanelled member of the Embassy of the State of Qatar , New Delhi
Alankit is proud to be an empanelled member of the Embassy of the State of Qatar , New Delhi
Alankit is proud to be an empanelled member of the Embassy of the State of Qatar , New Delhi
Alankit is proud to be an empanelled member of the Embassy of the State of Qatar , New Delhi
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PRAN

The Eligibility criteria for PRAN card

PRAN
Feb 11, 2022 Alankit

With the Idea of providing retirement income and encouraging savings amongst the citizens of India, the National Pension Scheme (NPS) was launched. Initially, it was only applicable to Government employees, but in later years it was introduced to the employees working in every sector including Government, private, and even in the unorganised sector.

For the subscriber of NPS, it is mandatory to have a Permanent Retirement Account Number (PRAN), where their savings are reflected. PRAN is a twelve-digit permanent retirement benefit number allotted for a lifetime, which is accessible from any location in India.

Types of Accounts that can be Held Under PRAN

There can be two types of accounts that can be held under PRAN, the former is mandatory whereas the latter is optional.

  • Tier-I: This is a non-withdrawable account, meant for retirement savings holding tax benefits.
  • Tier-II: This is a voluntary savings facility and one can make withdrawals at their wish but cannot avail tax benefits.

Documents required when applying for PRAN

The documents required for the PRAN card application are:

  • PAN Card
  • Aadhaar Card
  • Scanned Copy of Cancelled Cheque
  • Scanned Signature
  • Scanned Photograph
  • Scanned Passport (only applicable for NRI applicants)

How to apply for PRAN

Individuals can apply for PRAN both online and offline and we have made the understanding of the process easy with the below-listed steps.

Offline Method

In this method, the individual needs to visit the Alankit office (POP) empanelled under the National Pension System (NPS). There they need to fill out the PRAN card application form including the sections:

  • Applicant’s Personal Details
  • Applicant’s Employment Details
  • Applicant’s Nomination Details
  • Details of the Scheme
  • Subscriber’s Declaration to the Pension Regulatory Fund and Development Authority (PFRDA)

After complete details are filled in, the applicant needs to submit them to the concerned Alankit official.

Online Method

At Alankit, we not only help our clients to open their Permanent Retirement Account offline but also provide the facility to open the account online. Individuals can apply for PRAN using either their PAN or Aadhaar Number.

Under PAN Card Application

  • Applicant needs to have a bank account with an empanelled Bank for KYC verification.
  • KYC verification will be done through the chosen bank.
  • Applicants need to fill in the mandatory details online.
  • Applicants must upload scanned copies of PAN card & cancelled cheque.
  • Applicants need to upload their scanned signature & photograph.

Under Aadhaar Card Application

Under the Aadhaar method, the KYC is completed via an OTP. The OTP is sent to that mobile number which is registered and recorded in the Aadhaar database. This step will help in filling up the record details automatically in the online form.

The applicant needs to fill up other required details in the application form and then upload his/her scanned signature along.

Applicants connected with Alankit can avail of our services offline as well as the online generation of the PRAN card and number. We help our clients with the entire registration to the generation and receiving of the PRAN process.

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