Opening NPS a/c Online Through Aadhaar

We all know that NPS(National Pension System) can be used as pension during retirement as well as for tax-saving of additional 50,000 rupees under sec 80CCD(1B). It can be availed over and above section 80C limit of 1.5 Lakh

This prominence instrument is previously available only to central government employees, but later it was introduced to one and all resident individuals who falls under income tax bracket.

Process To Open NPS Account Online

  • To Open NPS Account Online, one must keep Registered Mobile Number and Aadhaar Number in Handy
  • If they are ready, open official e-nps website by searching on google
  • Click on “Register” under National Pension System Head
  • Now Select “Individual Subscriber” or “Corporate Subscriber” depending on your status
  • Select whether you are “Resident Individual” or “Non-Resident Indian”(NRI) or “Overseas Citizen of India”
  • Select- Aadhaar Online/Offline Method
  • Select Tier-1(Tax Free) or Tier-2(Taxable and optional a/c) as per the subscribers wish.
  • Enter Aadhaar Number and click on “Generate OTP”
  • Enter OTP received on your registered mobile number
  • Click on “Consent to fetch personal details from aadhaar database”
  • Cross-check the personal details and after concluding all are correct, proceed further
  • PRAN(Permanent Retirement Account Number) has been generated and you can make NPS Contributions further

NPS Tier-1 is a tax saving instrument and can be availed up to 60% of the accumulated corpus at the time of retirement and 40% must be paid towards purchase of annuity(Mandatory)

NPS Tier-2 account is an optional a/c and can be withdrawn at any time. But the withdrawn amount is taxable in the hands of the subscriber.

So, Opt for NPS Tier-1 or Tier-2 accounts as per your requirements.

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