How to Open NPS Account Online??

How to open NPS account online?

Mentotax is here to help you out with step by step process to open NPS account online using your PAN card.

Step-1: Visit eNPS Portal:

The first step is to visit eNPS portal
https://enps.nsdl.com/eNPS/NationalPensionSystem.html

Click on National Pension System and select “Registration” to open NPS account

Step-2: NPS subscriber registration:

New registration -> Individual subscriber -> Citizen of India and Tier-I only will be selected automatically and proceed to enter your PAN card and then select your bank.

Step-3: Subscriber registration core details:

Subscribers need to enter his or her personal details. Details like Email ID, Mobile number and Date of Birth, Proof ID etc. are mandatory fields. Click on “Generate Acknowledgement No” after filling all mandatory fields.

Step-4: Acknowledgement Number Generation:

If your name provided for NPS registration matches with name as per PAN records. It will allow you to proceed. You will get “Acknowledgement Number”

Step-5: Update contact details:

Complete FATCA details, second is correspondence Address and the third and final one is permanent address details. Click on “Save and Proceed”

Step-6: Update Bank and other details:

Select occupational details, fill bank details and then proceed

Step-7: Update Nomination and Scheme Preference Details:

Step-7.1.1: Update Scheme Preference Details

There are two sub-sections. First is Fund manager selection and second Investment choice.

Firstly, you have to choose your pension fund manager from the list of 8 fund managers.

Step-7.1.2 After selecting fund managers, choose your choice of investment: There are two choices of investment, Active Choice and Auto Choice

ACTIVE CHOICE:

Subscribers can decide allocation of money for investment in 3 assets classes. There classes are E (Equity), C (Corporate debt), G (Government Bonds)

AUTO CHOICE:

This is “Life Cycle Fund” and a very easy option for subscribers

There are three sub-choices: Moderate, Conservative and Aggressive. Allocation of fund for equity is highest in “Aggressive” and lowest for “Conservative”

Step-7.2: Update Nomination details:

Fill nominee details, like name, DOB, relationship and proceed

Step-8: Documents upload:

Upload scanned copy of PAN card and cancelled cheque. Maximum allowed size of file is 4 MB and minimum is 4 KB.

Step-9: Photo and signature upload:

Upload your photo and scanned copy of your signature. File size must be in the range of 4 KB to 12 KB.

Step-10: Payment Details:

You must make the first investment in your NPS account to get the PRAN number. Minimum investment amount is INR 500 for Tier-I and INR 1000 for Tier-II account. Payment Confirmation along with PRAN (Permanent Retirement Account Number) will be sent to mail.

You need to download the form. Print and stick your photo, sign the form and then send it to NSDL within 90 days.

Mentotax recommends you to Invest in NPS to save tax and create to retirement corpus. Mentotax advises to invest via auto choice for risk mitigation and better returns.

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