NPS Tier II account is also known as a voluntary savings account associated with the PRAN. It is a source of opportunity to address financial goals and develop wealth by investments. An NPS Tier II Account holder can cherish unrestricted online withdrawals and can directly credit the sum to his / her existing bank account.
Contribution to Tier II Account is not eligible for a tax deduction by a self-employed individual, but a govt employee can avail deduction for a contribution to Tier II Account under Section 80C. Only NPS Tier I account holders can open the Tier II account either by visiting a Point of Presence (PoP), or e-NPS website. As we know that an online application process is always easy and convenient, by keeping this in mind we have listed 14 easy steps for you to open an NPS Tier II account online for free.
Step.1: Visit eNPS website and click on the "Tier II activation" option
Step.2: Now a new page will be open, where you have to enter Permanent Retirement Account Number (PRAN), Date of Birth and PAN on the required field.
Step.3: Now click on 'Verify PRAN' option to generate an OTP on your registered mobile number
Step.4: Enter the generated OTP on the required field and proceed further.
Step.5: Now enter your bank details and click on the 'Validate Aadhaar' option
Step.6: Now you will get an acknowledgement number and next, you have to opt from pension fund manager (PFM) and investment option -Auto or Active choice.
Step.7: Now click on the 'Save and proceed' option
Step.8: Now enter the details of your nominee and click on 'Save and proceed'
Step.9: Now submit your scanned PAN card and a cancelled cheque and then click on 'Upload'
Step.10: Once the documents are successfully uploaded, make a payment towards the Tier II NPS Account with a minimum investment of Rs.1,000
Step.11: Now an online receipt will be generated for your contribution to NPS Tier II Account.
Step.12: Now using your Aadhaar Number you need to e-sign the application, in order to generate an OTP on your registered mobile number
Step.13: Now submit the OTP on the required field and once it is verified you can download your application.
Step.14: Now attach your signature on the application form and send it to the below-given address of the NSDL head office via post.
NSDL Head Office
Address: Trade World, A wing, 4th Floor, Kamala Mills Compound, Lower Parel, Mumbai - 400013