What is eNPS?

eNPS is a digital platform through which Central, State Government employees as well as employees of government related institutions can open their NPS account. Any government employee can open his/her ENPS account in two ways. First – Through Aadhaar online and offline KYC. Second- Through PAN card along with other KYC documents. 

 What will be the benefit of eNPS? 

• PFRDA has stated many benefits of the eNPS platform. 
• Onboarding of government employees will be easier than before.
• Through this, the nodal officer will be able to do verification easily.
• Through eNPS, the work of the nodal officer will become easier and as it is paperless, it will also take less time. 
• In this, registration can be done only by esigning through OTP. 
• Due to digitalization the cost of opening an NPS account will reduce. 
• Due to online process, PRAN will be generated on time and due to this, we will be able to ensure contribution on time. This will increase your chances of getting higher returns. 
• Due to online process, the possibility of cancellation will also reduce. 
• This will reduce logistics costs. In physical form, the forms are first submitted to the nodal officer by the subscriber. After this the nodal officer submits it to CRA-FC. 

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The special thing is that people working in private sector can also open an account in this scheme. If you have not opened an NPS account yet and want to open it now, then you do not need to go to the post office. You can easily open an NPS account on SBI Yono app while sitting at home. Know how?

Follow these steps:

• First of all open SBI YONO app in mobile.
• Steps 2. After this you go to Investment option.
• Click on NPS Account Opening section.
• Click on E-Services option and select the option of NPS registration.
• Apart from this, you can also choose the option of SBI branch near your home.
•  Here you will have to fill all the necessary information on the registration form like name, address, Aadhaar number, PAN number etc. and submit it.
• After this your NPS account will be opened.

Benefits of investing in NPS

• NPS Investment i.e. investing in NPS gives the benefit of deduction under section 80C, the limit of which is Rs 1.5 lakh.
• NPS is one of the cheapest pension schemes in the world. The benefits of compounding are available in the long run. Due to this, a big corpus is prepared for your future. At least Rs 500 can be invested in this.
• National Pension System comes under “EEE” category. Tax benefits are available on investment. Returns and maturity amount are also completely tax free.

NPS: Who can invest

• Central employee
• state employee
• Private sector employees
• ordinary citizens

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In which investors get the benefit of lump sum amount and monthly pension after retirement. If you have also invested in this scheme, then how much money has been deposited in your name (NPS Balance Check) can be known sitting at home.

There are three ways to check the balance of NPS accounts.

1. Via SMS

Account holders of National Pension System can also do balance check (NPS Balance Check) through SMS. For this you will need the registered mobile number. Give a miss call to 9212993399 from the registered mobile number linked to the NPS account. After this a message will come to you. In which all the information of your NPS account will be present.

1. Throughc

• You can also find the amount deposited in NPS account by downloading the UMANG app in your mobile.
• Download the Umang app on your phone.
• Now login and select NPS.
• – After this you will have to choose the option of current holding.
• – Now enter your Permanent Retirement Account Number and Password.
• After submitting, the account balance will appear in front of you.

1. NSDLthrough the portal of

• First of all you have to go to the portal of NSDL.
• As soon as you log in, enter your Permanent Retirement Account number and password.
• After entering the captcha code, select the option of holding statement.
• – Now click on the option of transaction statement.
• – After this, the amount deposited in your account will appear on the screen.

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National Pension System: Everyone does future planning. Everyone also searches for their retirement plan. But, often people do not know the right tool. If you are worried about your retirement then your wife can solve this problem. If you open this special account in the name of your wife, then the problem will be solved.

National Pension System or National Pension Scheme (NPS) is one such scheme, in which not only you but your wife can also help in making money. New Pension System (NPS) account can be opened in the name of the wife. NPS account will give a lump sum amount to the wife at the age of 60 years. Apart from this, you will get the benefit of pension every month.

This will be the regular income of the wife. The biggest benefit of NPS Account is that you can decide yourself how much pension you want every month. Due to this, there will be no tension of money at the age of 60.

Open NPS account in the name of wife

New Pension System (National Pension Scheme) account can be opened in the name of the wife. As per the convenience, the option of depositing the money every month or annually is available. An NPS account can be opened in the name of the wife even with Rs 1,000. NPS account matures at the age of 60 years. Under the new rules, if you want, keep running the NPS account till the age of the wife is 65 years.

But, how to make money from NPS?

Suppose your wife’s age is 30 years now and you deposit Rs 5000 in NPS account every month. Your annual investment will be 60 thousand rupees. Keep investing for 30 years. Overall your investment will be Rs 18 lakh. But, money will be made now. At the time of retirement, you will have a huge fund of Rs 1,76,49,569 ready. In this, Rs 1,05,89,741 will be available only from interest. Here we have kept the average interest at 12 per cent. Now compounding works. The investment may be 18 lakhs but compounding has taken your money above 1.5 crore rupees (Rs 1,76,49,569).

Now understand how the pension formula will be decided?

This is the biggest benefit of NPS Account that you can decide yourself how much pension you want. When your wife’s account matures at the age of 60, you will get Rs 1,05,89,741 in lump sum. This is the same money which is made from interest. Invest the remaining 70,59,828 in annuity plans. We have kept the annuity as minimum 40% only. The annual annuity rate is kept at 8 percent.

₹ 5000 monthly investment will create a fund of ₹ 1.76 crore

How much lump sum amount will be received and how much pension? We have calculated with the NPS calculator of HDFC Pension.

– Age – 30 years 
– Total investment period – 30 years 
– Monthly contribution – Rs 5,000 
– Estimated return on investment – 12 per cent 
– Total pension fund – Rs 1,76,49,569 (at maturity)
– Annuity plan of Rs 70,59,828 (40%)
– Estimated Annuity Rate 8%
– Monthly Pension – ₹ 47,066

Central government runs the scheme

NPS is the Social Security Scheme of the Central Government. The money you invest in this scheme is managed by professional fund managers. The central government gives this responsibility to these professional fund managers. In such a situation, your investment in NPS remains completely safe. However, the money you invest under this scheme does not guarantee returns. According to financial planners, NPS has given an average annual return of 10 to 12 per cent since its inception.

Note: Here the calculation of NPS has been done on a general basis. Your total fund will be decided only by your investment and the returns you get. Before investing, take the advice of a financial advisor.

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Pension Fund Regulator (PFRDA) is bringing the facility of systematic withdrawal with the aim of providing relief to the members of the National Pension Scheme. Through this, instead of lump sum, you will be able to withdraw the amount in the NPS account on a monthly or quarterly, half-yearly or yearly basis. The pension fund regulator has said that it is going to implement this system by September.

Pension fund regulator PFRDA has prepared to implement a systematic withdrawal plan for withdrawal of funds from NPS account. Through this plan, on completion of 60 years, pension account holders will be given the option of withdrawing a lump sum amount as per their choice, as well as the option of receiving the amount in a monthly or half-yearly systematic manner.

PFRDA chairman Deepak Mohanty said the systematic evacuation plan is almost in its final stages. It is expected that by the end of the next quarter i.e. September, we will be able to bring such a plan. He said that this facility will be available for both Tier-I and Tier-II account holders.

Current rule of withdrawal from NPS account

According to the current rule, when the NPS account holder turns 60, he can withdraw only 60 percent of the total amount in the retirement fund as a lump sum. The remaining 40% of the amount in the fund is compulsorily used to buy annuity.

Application has to be made for periodic withdrawal

NPS account holders also have the option of deferring lump sum withdrawal till the age of 75 years. By doing so he can make phased withdrawals annually through periodic withdrawal option instead of lump sum withdrawal. Under this, the NPS subscriber can make partial withdrawals on an annual basis, but to do so, he has to apply every year.

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If your account has become active under NPS i.e. National Pension System, then it can be reactivated again. National Pension System is a retirement saving scheme. If you want to take advantage of the National Pension System, then the closed account can be started again. Know how you can do this.

How to unfreeze?

To unfreeze the account, the customer has to pay the total minimum amount for the period of freeze. Minimum contribution for the year in which the account is reactivated along with a penalty of Rs.100/- has to be paid. To unfreeze an account, the customer has to visit the Point of Presence (POP) and deposit the required amount.

These documents will be required –

• PAN card,
• identity card,
• Address proof,
• passport size photos,
• reactivation form,
• You can also get this form from the official NPS website.

You have to fill the form properly with all the required documents. Sign and submit the form with all the information like PRAN, reason for activation and personal details. You will also have to submit KYC documents and passport size photographs along with the form. When the complete form is filled, you can submit the form by going to the POP-SP office. You will have to pay a nominal fee to reactivate the NPS account. Information regarding fee will be available from POP-SP. When you make the payment, take the receipt for it.

Minimum contribution required

The minimum contribution at the time of account opening is Rs.500 for Tier I and Rs.1000 for Tier II. The minimum contribution amount is Rs.500 for Tier I and Rs.250 for Tier II. 6000 for Tier I and the minimum annual contribution is Rs. 2000 for Tier II is Rs.

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People consider it a good option in terms of retirement. In such a situation, NPS can prove to be a better option for emergency fund along with improving your retirement.

With this, if the NPS account holder needs money in an emergency, then he can withdraw money from the NPS account. There is a whole process for this too. Let us know all these important things related to the National Pension Scheme (NPS).

What is NPS?

In the National Pension System (NPS), the account holder gets the benefit of pension after retirement, in which both the employer and the employee contribute. With this, if the account holder needs an emergency fund before retirement, then you can withdraw 60% of the amount from the deposit on retirement. However, it is necessary to put 40% of this amount in pension.

How to withdraw money from NPS account?

You can withdraw funds in emergency from NPS account by following the steps given below.

• Log in to NPS Account- First log in to your NPS account. For this, search on Google by writing cra-nsdl. Now open the website of CRA NSDL. Here you are given two options to login. Subscribers and Nodel Officers are there. You have to select Subscribers.
• To login, the UserId will be your mobile number and the password you have created. If you have forgotten the ID password of NPS account, then you can also reset it.
• After logging in to the NPS account, you will now reach the home page of NSDL. Here you will see many options in the menu bar, now you have to select the option mentioned below. The sequence of option selection is Transect Online>Withdrawal>Partial Withdrawal Form Tier I.
• After this a notification will come, read it and click on OK. Now a new page will open, here PRAN number is given, click on submit there.
• 25% of the self-contribution amount can be withdrawn from the NPS account at one go.
• Your WITHDRAW AMOUNT will appear here. Check it and click on Submit.
• Before clicking on Confirm, do check your bank details. If the bank details are wrong then there will be problem in getting the money.
• Now you have been given a declaration for bank verification on next, in which Re 1 will be sent to your account. Check mark in the box and click on online bank a/c verification.
• After bank verification, you will get OTP. As soon as you click on Submit OTP. Your money request will be processed and your money will come into your account in 5 working days.

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Modi government has started many schemes for the general public of the country. Today we will tell you about such a scheme, in which the government will give you Rs 20,000 every month. The name of this scheme is National Pension Scheme.

Old age will be secure

National Pension Scheme is a government scheme, through which your old age remains secure. The special thing is that there is zero risk in it and money is also guaranteed. This scheme was started in the year 2004 for the government employees. At the same time, in the year 2009, this scheme was opened for all categories.

40% annuity has to be invested. Under this scheme, you have to invest for a long period of time in your working life. In this scheme, you have to invest 40% of the amount in annuity. It is from the amount of annuity that you get pension later on.

What are the benefits of the scheme-

>> In this scheme you can start with Rs.1000.
>> People from 18 to 70 years can take advantage of this scheme.
>> 60% amount will be track free on final withdrawal.
>> Contribution limit in NPS account is 14 percent.
>> The amount invested in the purchase of annuity is also completely exempt from tax.

Will get more than Rs 20,000 every month

If you invest Rs 1000 a month in this scheme at the age of 20, then till retirement you will have a total fund of Rs 5.4 lakh. There will be 9 to 12 percent return on this, due to which this investment will increase to 1.05 crores. If 40 percent of the corpus is converted into one year, then this prize will be Rs 42.28 lakh. Accordingly, assuming an annual rate of 10 percent, you will get a pension of Rs 21,140 every month. Along with this, you will get a lump sum amount of about Rs 63.41 lakh.

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At the time of retirement, you can withdraw 60 percent of the total amount deposited in NPS in lump sum, while the remaining 40 percent amount goes to the pension scheme. There is no limit for investment in NPS.

The higher the amount of 40% annuity, the better will be your pension in old age. But sometimes due to some reasons your account and PRAN (Permanent Retirement Account Number) are deactivated or frozen. If you are having trouble logging into your NPS account online, it could be that your account is also frozen. Know here why this happens and what is the way to activate it again?

Reason for account deactivation

Actually you can put money in NPS in two ways. The first is Tier-1 and the second is Tier-2. Tier-1 is a retirement account, while Tier-2 is a voluntary account. You have to invest Rs.500 in Tier 1 while opening the account. After this, 1000 rupees have to be inserted in Tier 2. You have to make this contribution in every financial year. But if for some reason you are not able to deposit the minimum amount annually in your account, then your account is deactivated. 

How to activate

• To reactivate the frozen account, you have to fill the UOS-S10-A form. You get this form from the post office. Or you can take this form from where your NPS is running. 
• You can also download the form online. For this you have to click on a link. Link is- https://npscra.nsdl.co.in/download/non-government-sector/all-citizens-of-india/forms/UoS-S10A-Unfreezing%20of%20PRAN.pdf 
• A copy of the PRAN card of the subscriber has to be attached along with the form. Along with this, you have to deposit 500 rupees in the account and also have to pay a penalty of 100 rupees. 
• After submitting the application, your account is verified by the officials of the office. After this your application is processed and PRAN is activated.

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Remove the worry of financial planning and retirement. This is such a formula, which will create a fat fund not only on retirement. Rather, the tension of pension will also go away. There will be regular income and there will be no shortage of money at all. You can also use a trick for double benefit in the National Pension Scheme. Open it in the name of your wife, not yours. To understand what will be the benefit of this, it is necessary to read the whole news.

Decide yourself how much pension is needed in NPS

On opening an NPS account in the name of his wife, he will get a lump sum amount at the age of 60. Pension will also be given every month. This will bring a good amount as a regular income. The biggest advantage of NPS Account is that you can decide yourself how much pension you want every month.

NPS account will run in the name of wife till the age of 65

Another major advantage of opening an account in the name of the wife is that she gets the option of investing in this scheme for 65 years. Usually it matures at the age of 60. You can deposit money in it every month or annually. Investment in NPS starts from Rs 1,000.

NPS: How will a fund of more than ₹ 1 crore 11 lakh be prepared?

Suppose your wife’s age is 30 and you started NPS account with an investment of Rs 5000 every month. If the average return is 10% on this, then at the age of 60 the total amount will be Rs 1 crore 11 lakh 98 thousand 471. Out of this, the wife will get around 45 lakh rupees in one go. Now the turn of pension, here he will get pension as regular income of Rs 45,000 every month. They will continue to get this pension for life.

How to understand this calculation of NPS?

• Age – 30 years 
• Investment – 30 years
• Monthly contribution – Rs 5,000
• Estimated Return – 10%
• Total Fund – Rs 1,11,98,471 (on maturity)
• 44,79,388 Amount to buy an annuity plan of Rs.
• Rs 67,19,083 (Annuity rate 8%)
• Monthly pension – Rs 44,793.

Fund managers manage NPS 

NPS i.e. National Pension Scheme is the social security scheme of the Central Government. The special thing is that you have to invest money in the scheme, but professional fund managers will manage it. The central government gives responsibility to professional fund managers. That’s why complete security is guaranteed on the NPS account. Returns are not guaranteed simply because it is a market linked scheme. But, in the last few years, NPS has given an estimated return of 10-12 per cent. So the worry of retirement has gone away.

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If you are also planning for retirement and want to open an NPS account, then there is good news for you. The Pension Fund Regulatory and Development Authority (PFRDA) has changed the rules for opening an NPS account. PFRDA said that now National Pension System (NPS) account can also be opened through Central KYC (CKYC).

Information given by PFRDA

According to the information given by PFRDA, the entire process through CKYC will be paperless. Actually, KYC is required to be done only once in CKYC. Thereafter, post CKYC account opening in financial services institutions becomes easy as it does not require the investors to submit documents for KYC.

NPS account opening made easy

According to a report in Financial Express, ‘After Central KYC (CKYC), you are free from filling KYC forms again and again in your financial institution. Just some time back, the central government has started this facility. CKYC is managed by the Central Registry of Securitization Asset Reconstruction and Security Interest of India ie CERSAI. Under this, you will get your complete KYC information in just one number.

How to open NPS account with CKYC

1. For this you first go to the registration page of http://www.camsnps.com and fill the information asked there.
2. Now click on Open New Account.
3. Now OTP will come on your given mobile, enter it at the specified place.
4. If the PAN, date of birth and email/mobile number match, your KYC details will appear on the screen.
5. Now click on ‘Yes’ to proceed with the details available in CKYC.
6. Now click on applicant type and status.
7. Now here the name of the subscribers will be populated against the name field as available in CKYC. The date of birth given in CKYC will also be visible. Apart from this, father’s name, mother’s name and gender etc. will also be seen. These can also be edited.
8. Let us tell you that the address of the customer available in CKYC will also be automatically filled in front of the address field.
9. After entering all the requested data, click on save details. By doing this, the acknowledgment number will be generated.
10. This acknowledgment number will be sent to the subscriber through SMS and email.
11. The photo of the subscriber available in CKYC will appear on the screen and the signature will also be auto-populated.

In this way you can easily open your NPS account sitting at home.

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If you are also employed then you will also be interested to know about the ways of saving tax. The salary structure of many people is such, in which there is no provision of tax free allowance. Even if your income tax liability is low, you can reduce it further by adopting some alternative ways of saving tax. Do you know that your employer can help you save tax by contributing to NPS on their behalf, if they so desire? Yes, if you do not know about this, then we are giving you information about this in detail.

Employee’s own contribution to his NPS account is eligible for deduction under section 80CCD(1) and not under section 80C. The limit of Rs 1.50 lakh is prescribed under section 80CCE which covers all items eligible for deduction under section 80C, 80CCC and 80CCD(1).

Know what are the rules

Deduction under section 80CCD (2) is made available to the employee in relation to the employer’s contribution to the employee’s NPS account. This deduction is given up to Rs 1.50 lakh, which is under section 80C, 80CCC and 80CCD(1). At the same time, deduction of up to 10 percent of the basic salary and dearness allowance of the employee is available under section 80CCD (2). Higher deduction of up to 14 per cent of contribution is available as a percentage of basic pay for Central and State Government employees.

Although there is no limit for deduction in respect of employer’s contribution to the NPS account of an employee under section 80CCD(2), section 17(2) of the Income-tax Act provides that the total amount of the employer’s contribution to the employee’s provident fund is In case of contribution, National Pension System and superannuation exceeds 7.50 lakh in a year, the excess in the hands of the employee will be taxed as perquisite.

In addition to the deduction up to Rs 1.50 lakh in NPS account, all taxpayers can avail additional deduction of up to Rs 50,000 under section 80CCD (1B). In total, you can contribute up to Rs 2 lakh to your NPS account and get the benefit of tax deduction.

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Relaxation in the need to submit separate forms, IRDA said in an order, “In this direction, to make the life of senior citizens easier, IRDA has decided to set up a separate scheme for taking immediate pension products from the income of National Pension Scheme (NPS). The requirement of form submission has been relaxed. At present, retirees included in NPS have to submit a withdrawal form to PFRDA and a proposal form to insurance companies.

Insurance companies will also be facilitated, IRDA said that now the withdrawal form of NPS will be treated as the proposal form to buy pension. This will facilitate senior citizens as well as insurance companies. Pension Service Providers (ASPs) are insurance companies, regulated by the insurance regulator and listed by PFRDA. These companies give pension to NPS subscribers on the basis of the amount paid by them.

The Pension Fund Regulatory and Development Authority (PFRDA) has pension fund managers under NPS, who are entrusted with the task of judiciously investing the pension funds of the subscribers. As per PFRDA norms, members have to use at least 40 per cent of their accumulated pension corpus to purchase monthly pension products. Apart from this, the remaining amount can be taken in a lump sum.

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PFRDA says that existing NPS account holders can now make necessary changes in PRAN by logging in with their ID password to complete the e-nomination process. Apart from this, the subscriber can also submit the application for change in his nomination physically, which will have to be given to the concerned Nodal Officer or Point of Presence (POPs).

PFRDA has said in the circular issued on August 25 that if the nodal office does not work on the application of nomination within 30 days, then it will be approved for the CRA system. The revised process of e-nomination will come into effect from October 1, 2022.

PFRDA has said that the e-nomination service for NPS subscribers is available only after the notification issued on 3rd September, 2020. To change the nomination in the PRAN of such account holders of government or corporate sector, it is necessary to get approval from the concerned nodal officer or corporate. It is seen that till now a large number of e-nomination requests are pending. These requests are awaiting approval from the nodal office and corporate.

If not a decision in 30 days… The Pension Fund Regulator has clearly said that a major change is being made in the rules of the nomination process keeping in view the interests of the subscriber. Under this, once the subscriber has started the nomination request, the nodal office should either accept it or reject it within 30 days. If no action is taken by the Nodal Office within this period, the application will be accepted in the CRA system. The new rule will also work for existing account holders, whose application is currently pending at the nodal office.

How many nominees can be made According to the guidelines of PFRDA, at the time of opening the NPS account, you are asked for the information of the nominee, which is mandatory to be filled. A maximum of 3 nominees can be added for Tier 1 and Tier 2 accounts of NPS. After the death of the account holder, the amount is allotted to the nominee only. The account holder also decides which nominee will get what percentage of the amount, which should not exceed 100% in the aggregate.

PFRDA says in the nomination that if you have made the nomination at the time of opening the NPS account and at the time of PRAN registration, then you will not have to pay any fee. But if you have submitted nomination request later, it will be treated as service and you will be charged Rs 20 along with service tax.

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National Pension Scheme Regulator, Pension Fund Regulatory and Development Authority has now changed the rules of National Pension Scheme (NPS). Now the Point of Presence (PoP) opening NPS account will get commission.

POPs include banks, NBFCs and other entities. They register people in NPS and provide many more facilities to the subscribers. From September 1, 2022, POP will get commission from Rs 15 to Rs 10 thousand on opening the account. PFRDA says that this move will give a boost to POPs as they put in a lot of effort and use their own resources to open an NPS account.

The move is aimed at providing compensation to the POPs, who are still incurring losses in terms of fees. PFRDA has clarified that this commission will be payable to the POP when the customer opts to send money directly from his account to the concerned entity under the ‘All Citizen Model’.

You will get 0.20% commission on investment amount

As per the new rules of PFRDA, it has been decided to give commission to the POPs supporting the expansion of NPS for a fixed period from 1st September 2022. The pension regulator said that transferring money directly from the bank account to the agency concerned for contribution to the National Pension System is similar to e-NPS.

The commission on this will be given to the POP. On direct money transfer, the POP will be given a commission of 0.20 percent over a certain period. The commission will be a minimum of Rs 15 and a maximum of Rs 10,000. This commission will be taken from the customer only. This will be recovered by reducing the number of units he has invested in at fixed intervals.

National Pension Scheme is a social security initiative by the Central Government. It was started in 2004 for government employees. But in 2009 it was opened to all classes. National Pension Scheme is a voluntary and long term investment scheme for retirement.

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In this scheme, which will be implemented from September 1, POPs will be able to get a minimum of Rs 15 and a maximum of Rs 10 thousand. This commission will be available to the POP when the subscribers opt to remit the money directly from their account to the concerned entity under the ‘All Citizen Model’.

PFRDA’s move will give a boost to PoP

The purpose of this move is to provide compensation to Point of Presence (PoP) facilitators of opening NPS accounts, who are suffering losses in terms of charges. POPs include banks, NBFCs and other entities.

They provide related services to the subscribers along with the registration under NPS. The Pension Fund Regulatory and Development Authority (PFRDA) said that this move will give a boost to POPs as they try hard to open an NPS account. As per the information released by PFRDA, it has been decided to pay commission of 0.20% on the invested amount with effect from September 1, 2022, to support the efforts of expansion of NPS.

The pension regulator said, the transfer of money directly from the bank account to the agency concerned for contribution to NPS is like e-NPS. The commission on this will be given to the concerned POP.

The commission to be paid to the POP for a fixed period on direct transfer will be 0.20 percent of the contribution amount. The minimum commission amount will be Rs 15, in this way it will be at least Rs 15 and maximum Rs 10 thousand. This commission will be charged from the customer at fixed intervals after deducting the number of units he has invested.

The facility to transfer funds directly to the agency concerned has been introduced as a customer-centric approach. If the Trustee Bank receives the contribution amount before 9.30 am, it optimizes the investment returns of the customers by offering the same day Net Asset Value (NAV).

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There is good news for the account holders of National Pension System (NPS). The Pension Fund Regulatory and Development Authority (PFRDA) has also started the facility of Unified Payment Interface (UPI) for contribution through de-remit. That is, now account holders can also put money in NPS through UPI. Till now this deposit was done only through IMPS / NEFT / RTGS.

Now with the facility of payment through UPI, it will be easier for the account holders to contribute. Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that through UPI you can transfer money at any time throughout the day. Let us tell you that this facility has also been started for the account holders of Atal Pension Yojana. However, the contribution made before 9.30 am will be counted as investment for that day but after that, it will be counted as investment for the next day.

How to make payment through UPI

• First of all login to the website of ENPS.
• Verify your Permanent Account Number.
• You will get OTP on registered mobile number or e-mail.
• Select Tier-1 or 2 account for which Virtual Account (VAN) is to be created.
• Give your consent and select Generate Virtual Account.
• An application will be sent to your trustee bank and you will get the acknowledgment number.
• Enter the 15 digit VAN in your UPI handle.
• After that enter PFRDA.15digitVirtualAccount@(bank’s name) and send Rs.

What is National Payment System

Let us tell you that the NPS scheme is for the employees of the organized sector. It was made mandatory for central government employees (except armed forces) in 2004. This is applicable to only those employees who have joined the service from 1st January 2004. In May 2009, it was extended to the private and unorganized sector on a voluntary basis.

The post NPS account holders! Good News: Now NPS account holders can also contribute through UPI, check complete Details first appeared on Rightsofemployees.com.