Stepwise Guide for NPS Scheme Online Registration

A man/woman can only give his/her 100% up till a certain point of time, till the body allows. It, therefore, becomes incumbent upon us to save for our old days when the body doesn’t really work the way you would expect it to and, thus, making us unfit for the job by reducing efficacy and productivity. It, therefore, needs to be planned so that you do not have to fall over anyone else’s shoulder in your hours of need.

NPS or National Pension Scheme is a program that helps you accumulate wealth for later phases of your life. You can invest in the funds of your choice through this market linked product. All you need is your mobile number, e-mail ID and a bank account which should be active, in order to open your account online. You would also need a net banking facility along with the facilities as mentioned above.

• All you have to do is, register yourself on e-NPS website, and choose new registration; register yourself to receive your OTP on your registered mobile number.

• Note down your acknowledgment number after you choose to continue and click ‘OK.’

• Punch in your details and choose to save.

• This should be followed by punching your account details, which have the facility of net banking; save it, and proceed.

• Choose the portfolio that you wish to allocate your funds to, be it equity where you can put in about 50% of your money or alternative funds with a max of 5% investment, or corporate bond fund, or government security fund. This should be followed by entering your nominee details.

• A canceled Cheque of your account should be uploaded after that, along with your specimen signature and photograph.

• This should be followed by a minimum investment of Rs.500 towards NPS. This shall result in the generation of your permanent retirement account number (PRAN), alongside payment receipt.

• E-sign or print registration follows the above if you choose the next page. In case you wish to sign up with your e-aadhar, you will receive your OTP on your registered mobile number to authenticate your log-in. Punching in of OTP completes your registration electronically on National Pension Scheme Online.

• The wealth accumulation provides you the cushion to absorb the joblessness and free fall of old age, which keeps multiplying and compounding itself.

• Tax deductions can be availed on NPS Scheme Tier 1, under the IT act of 1961. Any contribution made under section 80CCD (1B) helps you get an additional tax rebate of 50,000 under the 1961 act of Income Tax.

• Depositors can withdraw up to 25% of the total after attaining the age of maturity or superannuation according to the Terms and conditions.

• 60 yrs. To 65 yrs. Is the maximum age limit for joining NPS, according to PFRDA of NPS.

• Online access ensures transparency and portability via online portals of NPS.

The purpose of this article is to help you sign-up for NPS. You can also look for online videos giving you stepwise visual explanation if needed. Happy Savings!