NPS contribution: What is the minimum contribution to be made every year to keep NPS account active

Rs.1000 for his Tier I account in a financial year and if not contributed the account will be frozen. In order to unfreeze the account, the customer has to pay the total of minimum contributions for the period of freeze, the minimum contribution for the year in which the account is reactivated and a penalty.

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If minimum contribution is not received, the account is categorized as ‘frozen’ and will get activated upon making a contribution to the account. The NPS account will be closed only when a subscriber submits a request (physical or online) for exit from NPS to a service provider (PoP).

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The following documents need to be submitted to the POP for opening of a NPS account: a. Completely filled in subscriber registration form b. Proof of Identity c. Proof of Address d. Age/date of birth proof. An individual opening the Individual Pension Account in eNPS platform is required to upload his/her scanned photograph and signature in *.jpeg/*.jpg format with file size ranging between 4kb-12kb. Uploading of scanned photograph is optional for individuals opting to open the Individual Pension Account with Aadhaar details.

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No, multiple NPS accounts for a single individual are not allowed and there is no necessity also as the NPS is fully portable across sectors and locations.

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An individual can open his/her Individual Pension Account under NPS by choosing any one of the following alternatives and having netbanking facilities enabled with his/her bankers :-

Option # 1 by providing Aadhaar details

Option # 2 by providing PAN details and KYC details as recorded with the Bank in which he/she maintains his/her bank account and that Bank is empanelled in eNPS.

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All subscribers (excluding NPS Lite & Atal Pension Yojana) irrespective of their PRAN being generated through online (eNPS) or physical mode (PoP) can contribute to their PRAN (Tier I & Tier II) using eNPS platform through netbanking of empanelled banks or through credit / debit cards. Subscribers are required to quote the correct PRAN and authenticate it using the OTP received by the subscriber in his/her registered mobile while initiating the payment for contribution towards his/her PRAN.

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