A proper regulatory company known as the Pension Fund Regulatory and Growth Authority (PFRDA) was established beneath the PFRDA Act, which was handed on 01.02.2014, with the purpose of selling previous age earnings safety and safeguarding the pursuits of Nationwide Pension Scheme (NPS) subscribers.
The PFRDA has now enabled customers to open an NPS account by DigiLocker utilizing their driving licence. Customers can even replace their tackle particulars within the NPS account by the brand new facility.
NPS is a improbable solution to save for retirement. An investor might deduct a most of two,00,000 in NPS taxes every year.
The NPS tax deduction beneath this clause is restricted to a most of 1,50,000. Over and past Part 80C deductions, a further contribution of as much as 50,000 could be claimed as NPS tax exemption.
PFRDA has offered the extra options by DigiLocker “as a tribute to 75 Years of India’s Independence Day celebration and to commemorate Azadi Ka Amrit Mahotsav.”
Potential subscribers can use the ability to open their account with Protean Central File Retaining Businesses (CRAs) whereas present customers can replace their tackle utilizing by the brand new methodology.
Under are the steps to open a brand new NPS account utilizing your driving license by DigiLocker:
Step – 1 Go to the Protean CRA web site and open the NPS registration system
Step – 2 Click on on “New Registration with Paperwork with DigiLocker” after which choose Driving Licence from the checklist of choices
Step – 3 You can be redirected to the DigiLocker web site the place you’ll have to login utilizing your credentials and likewise present consent to CRA for sharing of paperwork
Step – 4 Now enable NPS to entry DigiLocker and paperwork issued by it
Step – 5 Your demographic data and picture within the driving licence will probably be autopopulated within the account opening web page
Step – 6 Now present your private particulars and particulars of your PAN card, checking account, and scheme and nomination as required
Step – 7 Full the applying after which fee could be completed for NPS contribution
Step – 8 Your NPS account has been created efficiently
Comply with the under steps to replace your tackle in NPS account utilizing driving licence by DigiLocker:
Step – 1 Login to your NPS account on the Protean CRA web site
Step – 2 Click on on the ‘Demographic Adjustments’ tab and select ‘Replace Private Particulars’ choice
Step – 3 Choose ‘Handle Particulars’ and select the DigiLocker choice. Then choose Driving Licence beneath paperwork
Step – 4 You can be redirected to the DigiLocker web site the place you possibly can login and supply consent for sharing paperwork with CRA
Step – 5 Enable NPS to entry your DigiLocker account and click on on submit
Step – 6 Your tackle will probably be up to date within the NPS account as per the driving licence