This year Tax benefit on additional
Investment of Rs.50000/- in NPS Scheme is allowed from Assessment Year 2016-17.
So every assesse ( tax payer ) wants to avail this additional tax benefit.
Every assesse on the basis of income can save Tax Saving ranging from Rs5000/-
to Rs.15000/- if one is between the age
of 18 years to 60 years.
Method of opening NPS A/c
1. Offline
Process
2. Online Process
1. Offline Process:
*Find
Point of presence. POPs are intermediaries (such as banks) which help to subscribe to NPS, carry out KYC verification
and also receive NPS contributions from subscriber. The list of POPs is
available on http://bit.lv/1TlvCxJ.
* Fill
up subscriber registration form to open the A/c which is available on http://bit.lv/1QbjK8k.
*
Submit all KYC documents ( not in the case if A/c is opened through banks)
& make contribution.
Minimum
contribution : Rs.500 aggregating to Rs.6000/- Investment per annum
* A
permanent retirement account number (PRAN) is generated and sent. This is a
unique portable number that will remain with subscriber under NPS.
* Welcome
kit also contains various passwords, which you can be used to access the
account through the call centre or online on the Central Record-keeping Agency
(CRA) website.
* PoPs get paid from the contributions which the
subscriber makes.
One-time charge
(subscriber registration charge) for account opening : Rs.125
Then charge of 0.25% of
the amount received from the subscriber on all transactions subject to a
minimum of Rs.20/- and maximum of Rs.25,000/-Charge of Rs.20 per transaction on Non-financial transactions or those
that do not involve a contribution from the subscriber
2. Online
Process:
* Open
online account by going to www.npstrust.org.in and then going to E-nps.
* There
are two ways of register, One is using PAN and bank account details and the
other is using Aadhaar.
* The
process of registration is the same as the offline process in terms of the
information needed, but if subscriber provides PAN, the subscriber will also
need to give a bank account which the authorities can tap for their KYC.
* The
subscriber can avail the PAN plus bank verified-KYC to open the account online
only if it has a bank account with any of bank which are empanelled by PFRDA
* In
this process, the subscriber needs to contribute at the time of registration
and any subsequent transaction is possible after the KYC details have been
verified by the bank. For KYC, banks will charge a one-time fee of up to Rs.125 (plus
applicable taxes) and this will be debited from bank account by the bank as KYC
authentication charges.
* If
start by keying in the Aadhaar number
A one-time password (OTP) will be
sent to the Aadhaar - registered mobile phone number.
OTP is verified
Fill up information such as bank
details, and also make an initial payment
* While
opening an A/c, the subscriber needs to scan and upload a digital signature and
also a photograph. . If the subscriber is using Aadhaar, then a photograph
appears automatically, which can be changed with another one.
* To
make a contribution, the subscriber has the option to invest online under
E-NPS.
No POPs
charges but Payment Gateway Charges will be apply which can be high for Debit
card & Credit transaction. For Net Banking Facilities, it is just 60 paise.
* Print
the NPS form that was filled online, paste a photograph, sign the form and
submit the print out within 90 days to the CRA. Currently, National Securities
Depository Ltd (NSDL) is the CRA. . If the subscriber does not send the form,
his account will be ‘frozen’ temporarily.
* If the
subscriber has already account then he can make use of the e-NPS facility to
contribute online
* Such
contributions can only happen through e-NPS, else it’s via NEFT, cheque, among
other payment options.
