The National Pension System (NPS) allows subscribers to cherish retirement benefit. An NPS account can be opened by all Indian citizens, and even non-resident Indians (NRIs). One can make a contribution to his / her NPS account using multiple methods such as cheque, net banking and even UPI. The primary condition for being eligible to make a contribution using UPI is to have a UPI ID. The subscriber must download UPI application of the bank or any and generate a new UPI ID to get eligible, Apart from this, the subscriber also needs to link his / her UPI ID with the bank account and also set up an MPIN in order to make UPI transactions. So let's discuss the process of how can an NPS subscriber can make a contribution towards his / her account using UPI.
Step.1 Visit enps.nsdl.com and login to your account using your PRAN (Permanent Retirement Account Number) and OTP which will be generated on your registered mobile number for authentication.
Step 2 In order to make a contribution, you need to select your payment method as UPI and submit your UPI ID.
Step.3 Now a confirmation will be sent to your registered UPI application and you need to confirm the transaction within the defined time frame
Step.4 Now open the UPI app and enter your MPIN to authorise the transaction. Once done you will get a successful message on your registered mobile number
Points to remember
1. A POP service provider may charge a payment processing fee of Rs 10 including GST
2. In a single transaction, including transaction charges and GST, the maximum contribution that can be made using UPI method is Rs 2000.