How to make payment to NPS online...

Here is a simple step-by-step guide on how you can make payment to NPS online:  

How to make payment to NPS online...

Zee Media Bureau

Subscribers of New Pension System (NPS) can now make their payments online through net banking, credit or debit cards with pension fund regulator PFRDA launching a platform for the same.

Here is a simple step-by-step guide on how you can make payment to NPS:

-A prospective subscriber can visit NPS Trust website and select NPS Online menu to register and contribute to NPS.

-While registering, a Subscriber will provide his/her name & Permanent Account Number (PAN) details which will be validated online with the Income Tax Department.

-Subscriber will then select the Bank (through which KYC verification to be done), fill up the personal details and upload photograph & signature.

-After filling up of details, the Subscriber will make contribution through net banking from the account of the selected Bank.

-Once payment is made, PRAN will be provided online to the Subscriber.

-The details submitted by the subscriber will be sent through CRA system to the selected Bank for KYC verification.

-After verification of KYC by the Bank, the PRAN will become active and operational.

-Subscriber will be required to print the form, paste photograph, affix signature and submit the physical form to CRA within a specified period while continuing contributing online.

-Subscriber can make subsequent contribution online through net banking /debit card/credit card at any time and the same will be credited in the subscriber’s PRAN account on T+2 basis.

-The subscribers who already have an NPS account can make contributions through eNPS directly.

-Presently, ten banks viz. Allahabad Bank, Bank of India, Bank of Maharashtra, Oriental Bank of Commerce, South Indian Bank, State Bank of Travancore, State Bank of Hyderabad, State Bank of Patiala, Tamilnadu Mercantile Bank and United Bank of India have provided the facility of online KYC verification. PFRDA has advised all other Bank POPs to join the eNPS platform and provide online verification of KYC for the customers of their Banks willing to open NPS account online.

-The complete information about eNPS is available in PFRDA website and also on NPS Trust