Aadhaar-based offline paperless KYC (Know Your Customer) process has recently been permitted by Pension Fund Regulatory and Development Authority or PFRDA. Which implies that individuals can open an NPS account using the Aadhaar-based offline paperless KYC authentication. The Aadhaar-based paperless KYC offline authentication removes the need to provide the 12-digit Aadhaar number with a physical copy. As per this new framework, by accessing the Unique Identification Authority of India (UIDAI) portal via eNPS, an individual can download the password-protected Aadhaar XML file in offline mode and upload the same for KYC. The service can also be used at Points of Presence (POP), to open NPS accounts. In addition to making Aadhaar's authentication process more secure, this development can also help to improve NPS acceptance and uptake in India. To open an NPS account using eNPS using an XML file downloaded from the UIDAI website, follow the steps listed below:
Step 1: Upload the Offline Aadhaar paperless e-KYC zip format. If the .xml zip file is not generated, the individual will navigate to the UIDAI portal to download the same. The Aadhaar paperless e-KYC can also be secured by a four-digit password once downloaded. Registration on the eNPS website can be completed after this.
Step 2: Now, pick suitable registration options on the eNPS portal and provide specifics such as registered mobile number with UIDAI and upload zip file along with four-digit pass-code for eKYC contactless offline method.
Step 3: Demographic details such as name, gender, date of birth, mobile number, address and photograph will be generated from the UIDAI database upon submission of the OTP, and other necessary details will be needed for the subscriber to fill in.
Step 4: Upload a scanned copy of your PAN card and cancel a cheque in jpeg, jpg, or png format with a file size between 4KB - 2MB and a copy of your signature having file size between 4KB - 5MB.
Step 5: The subscriber will be then redirected to a payment portal for the NPS account to make the payment. PRAN will be issued upon successful payment.