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If you want to apply for NPS, you need a PRAN.
You can get an application form at any of the Point of Presence-Service Providers (POP-SP). The form needs to be filled up and submitted at the POP-SP or at the NSDL website online. Your KYC documents, Aadhaar and PAN, also needs to be submitted along with the application form.
You need to pay Rs. 500 to open an account. A receipt number for your PRAN card will be issued to help track the PRAN card status. Once you receive the PRAN card, you need to open the Tier-1 and Tier-2 Account. While the Tier-1 account is retirement account and withdrawals can be only made on the subscriber reaching the age of 60, the Tier-2 account is a voluntary account where there are no restrictions on investment and withdrawal.
Your NPA balance can be checked online by logging on to the CRA (Central Record keeping Agency) site www.cra-nsdl.com. You need to submit your User ID and password. After logging in, select the transaction statement followed by the holding statement to check your NPS balance.
Logging in to your E-NPS is possible after the creation of the NPS account and allocation of PRAN. The different channels through which you can log in to your PRAN account are the NSDL NPS portal or the KARVY site or internet banking.
There are two ways through which you can log in to your NSDL NPS portal. First, if you have already have a password. Second, if you have not created a password and are logging into your PRAN account for the first time.
Here are the steps to log in when you already have a password.
It is also possible to access your E-NPS account with internet banking. After visiting the portal of your particular bank, you will have to use your internet banking id and password to log in to your account. Find the NPS section for checking your details. All transactions related to your NPS, like selecting schemes, or any other activity can be performed through internet banking.
You can register for NPS both online and offline.
To register for NPS and open a new account online, you will need to provide the following information.
You need to fill up the registration form. Make sure to select the applicant category from the four options: Government Sector, Corporate Sector, All citizen model, or NPS Life.
The next section is the personal details section where you need to enter data like your name, gender, and date of birth. The identity details section will require details regarding either your PAN, Aadhaar, Voter id, or passport. The permanent address details and contact details must be accurately provided.
You will then have to provide details of your nominee, NPS options (Tier II account), Pension Fund Selection, and Investment option (active or auto choice), asset allocation. The declaration section needs to be filled up by your employer for government or corporate employees. The POP-SP fills up details for both general citizens and corporate employees.
How do I log into my NPS account?
To log into your NPS account, you need to have your PRAN. Once you have the PRAN, you can log onto the NSDL NPS portal or Karvy NPS portal.
If you are logging in for the first time, you will require a password. You need to click on the option which helps you generate a password. This one-time password or OTP will be sent to your mobile phone. Once you enter your PRAN, OTP and captcha, you can access your NPS details through both sites.
Once you have generated the password, you can access your NPS details anytime by just providing your PRAN, password and captcha.
Can NPS account be opened online?
Yes, you can open the NPS account online. You can open your account either with NSDL, NPS portal or Karvy NPS portal. The procedure for opening your E-NPS account is as follows.
How can I apply for SBI NPS online?
To apply for NPS through SBI, you need to visit the online portal onlinesbi.com. You will find a button 'NPS registration' under the 'e-services' menu. You need to click on this.
Just like the other online registration options, you will need to fill up the application form for PRAN. Once your PRAN is generated, you need a password to access your E-NPS.
You can log on to the portal using your PRAN, password and captcha and find out the latest balance in your NPS account.
Who contributes to NPS?
As far as contribution to NPS is concerned, it is made by both the employer and the employee.
The contribution made by the employer for Central government employees has recently been increased from 10% to 14% of the basic salary.
The contribution by the employee remains at 10% of the basic salary.
There is no limit as far as employer contribution is concerned in the corporate category, but tax benefit is available only up to 10% of your salary .
How do I get a user ID and password for NPS?
The user ID for NPS is called PRAN. To obtain the user ID, you need to fill up an application form providing all relevant details and submit it, either online or offline with your KYC documents. Once you get your ID, you can log on to the online portal and generate your password.