Who is eligible?
Any citizen of India between the age of 18 and 65 years can open an NPS account. A non-resident Indian can also open an NPS account.
Opening account
There are two ways to open an NPS account:
- By visiting the POP-SP (point of presence service provider) which could be a bank branch, post office.
- Online through the eNPS website using PAN and bank details.
PRAN
A PRAN (Permanent Retirement Account Number) is issued to each NPS subscriber. In case of physical opening of account, the person can go to the nearest POP-SP and submit the PRAN application along with KYC documents. Once PRAN issued, PRAN card will be sent to correspondence address.
E-NPS
You can open an account online through https://enps.nsdl.com/eNPS/NationalPensionSystem.html. Choose the eSign option based on Aadhaar authentication. Alternatively, one can fill up the online form by submission of necessary details and print the same, paste latest photograph, sign and submit it to the CRA.
First contribution
At the time of applying for registration, the subscriber needs to make the first contribution with a minimum of Rs 500.
Point to note
- The applicant can track status of PRAN application by entering the receipt number at https://cra-nsdl.com/CRA/pranCardStatusInput.do
- NPS account can be opened only in individual capacity and not jointly or on behalf of HUF.
(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
