Nps Account: How to Open NPS Account Online with Post Office using Paperless e-KYC Aadhaar

India Post has announced the launch of online services for the National Pension Scheme (NPS), a voluntary retirement savings scheme which aims to provide financial stability for everyone after retirement. Now all eligible citizens can open an NPS account online without physically visiting a post office. The online service has been available since April 26, 2022.

According to the official India Post Twitter account: “India Post is pleased to announce the online services of the National Pension Scheme (NPS), a voluntary retirement savings scheme aimed at ensuring a long and happy life for all. more information.”

The PFRDA is the lead agency responsible for implementing and monitoring the NPS.

NSP online services

Customers can take advantage of services such as new registration, initial/follow-up contributions and SIP choices through NPS Online for one low price. The Department’s NPS service fees are among the lowest.

Also Read: Online Investment Fees in NPS via India Post

national pension system

The National Pension System (NPS) is a voluntary retirement savings plan that allows subscribers to make predetermined contributions to planned savings.

NPS subscribers can use the pension wealth accumulated under the scheme to purchase a life annuity from a PFRDA approved life insurance company, as well as withdraw part of the pension wealth accumulated in the form of capital if they wish, when they leave.

To open an NPS account in Post Office, here are the requirements to open via “myNPS”:

A valid mobile phone number and email ID

• There are two registration modes as mentioned below:
  a. Registration based on Aadhaar Paperless Offline eKYC
  b. Registration based on permanent account number (PAN)
• Active bank account with Net Banking service with one of the banks linked to the payment gateway service provider (click here for list of banks)
• Scanned copy of photograph (option for Aadhaar based registration) and signature in *.jpeg/*.jpg/*.png format having file size between 4KB and 5MB each
• Scanned copy of the PAN map and canceled registration in *.jpeg/*.jpg/*.png format having a file size between 4 KB and 2 MB each
• Online payment of the initial contribution (Minimum amount? 500) via Internet Banking
• Subscriber can complete the registration via OTP authentication or electronically sign the registration form
• If you are unable to complete the OTP/eSign authentication, please print the form, paste your photo (please do not sign on the photo) and put the signature and send it to NSDL. Please note that the form must be certified by the nodal office
• In the event of registration of a Corporate Subscriber, online payment of the initial contribution is not required.

How to register for NPS using Aadhaar Paperless Offline e-KYC

Before starting the process, make sure your mobile number is registered on your Aadhaar. According to NSDL website, below are the steps to register for NPS in India Post.

Step 1: Download the Aadhaar Paperless Offline e-KYC ZIP file and generate a share code on the UIDAI website.

Step 2: To generate a PRAN, download the Aadhaar Paperless Offline e-KYC ZIP file from the NSDL website.

Step 3: Enter your mobile number, the last digit of the Aadhaar number and enter the generated four character sharing code

Step 4: Demographic information such as name, gender, date of birth, mobile number, address and photo will be retrieved from UIDAI database, and other required information should be entered online with the captcha code.

Step 5: Upload a scanned copy of the PAN map and canceled registration in *.jpeg/*.jpg/*.png format with a file size between 4 KB and 2 MB.

Step 6: Upload your signature in *.jpeg/*.jpg/*.png format with a file size of 4 KB to 5 MB.

Step 7: You will be directed to a payment gateway to make an Internet Banking payment to your NPS account.

Step 8: The subscriber can select OTP Authentication or electronically sign the ARC registration form.

You do not need to send a physical copy of a form to POP once it has been electronically signed or validated. The eSign service fee plus all applicable taxes is Rs. 5.90.

Step 9: Contributions are credited in PRANs on a T+2 basis (subject to receipt of clear funds from the payment gateway service provider).

In case of registration of a Corporate Subscriber, the payment of the initial contribution is not required.

Registration via PAN (KYC verification by POP)

A ‘permanent account number’ is required (PAN). An existing active account (account number/folio number/Demat) with integrated POP for KYC verification after subscriber registration via myNPS. Your KYC will be verified by the POP during the registration process. For KYC verification, the name and address provided during registration must match the POP records.

If the details do not match, the application will be rejected. If the selected POP rejects the applicant’s KYC, the applicant is prompted to contact the POP.

Subsequent contribution procedure

All subscribers (online and offline) can use “MyNPS” to contribute to their Tier I and Tier II accounts.

• To contribute online, you must first create an account
• Have an active Tier I / Tier II account.
• Authenticate your PRAN with the one-time password (OTP) issued to your registered mobile number or email address.
• Pay using your Internet Banking account.
• A POP service charge of 0.25% will be applied to the contribution amount (with a minimum of Rs. 20 and a maximum of Rs. 25,000 per transaction).
• Contributions made through MyNPS are credited to PRANs on a T+2 basis (subject to payment gateway service provider receiving clear funds).