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The New Pension Scheme or NPS  is a social security scheme introduced by the government, aimed at providing a steady stream of income post retirement. While the scheme has been around since 2009 opening the account involved going to the bank. Since Sep 2015 it is possible to open this account online using the e-NPS system if you have Permanent Account Number (PAN) and a Bank account with any of the registered Point of Presence empanelled for KYC verification . This article gives an overview of NPS and explains how to open NPS account online and contribute to NPS account online.

Try firefox browser for opening the eNPS account, if you have problem in uploading images

How to Open eNPS account online overview

Till Dec 2016 an NPS account could be opened online via eNPS portal but the printout of the application submitted online had to be sent to the PFRDA’s Central Recordkeeping Agency
(CRA) to open the account. The Pension Fund Regulatory and Development Authority (PFRDA) has issued a circular dated December 15th, 2016 directing that in the case of NPS accounts being opened online on the basis of Aadhar verification followed by esignature, a physical printout of the application need not be sent.

There are two ways to open an NPS account. One method has now been made totally online and the other method is partially online and partially physical. The completely online process is based on Aadhar verification which is possible provided your mobile number is linked to Aadhar card. The steps in this fully online process are:

  • Click on the Registration and select ‘register with Aadhar’ Option.
  • Enter the Aadhar Number and click on “Generate OTP” option
  • The OTP will be sent to your registered mobile number linked to Aadhar Card.
  • Enter the OTP number and fill in your personal details, Nomination details, bank details.
  • On the ‘Photograph and Signature’ tab, your photograph will be shown same as on the Aadhar card. Upload your signature in the ‘jpeg’ format.
  • Click on the ‘e­signature’ option. Once again the OTP will be generated and sent to your mobile number.
  • Enter the OTP to verify your signature and make payment.

Once the application is successfully submitted, your PRAN will be allotted instantly

How does NPS work?

Investors contribute amount towards their New Pension Scheme or NPS account. This  contribution is in turn invested in avenues as per investor choice and risk profile. Upon retirement, a part of the corpus could be withdrawn as lump sum, and the balance will be paid out as pension annuity. The Government of India (GOI) rolled out the NPS for all citizens of India from May 1, 2009 and Corporate sector from December, 2011.   Our article Understanding National Pension Scheme – NPS explains it in detail.

The NPS is regulated by the Pension Fund Regulatory Development Authority (PFRDA). Designated Pension Fund Managers (PFMs) have been appointed who are responsible for investing the funds and generating returns from them. An investor has the liberty to choose or change their fund manager.

Note: State Bank Of India (SBI) allows one to contribute to NPS through internet banking.

What are the Tier 1 , Tier 2 accounts of NPS?

There are two NPS account options available for investors.

  • Tier 1 NPS account: This is a mandatory non-withdraw able pension account. Money would be available on maturity only, i.e., at 60 years.
  • Tier 2 NPS account: A voluntary withdrawable account, it lets you withdraw money at any time. However this option will not have any government contribution. Also, it is mandatory to have a Tier 1 account in order to open a Tier 2 account. Our article NPS Tier 2 or Tier II Account: Performance,How to open,Withdraw explains it in detail.

Our article Returns of NPS, shows the returns of NPS

What are tax benefits of NPS?

Tax benefit to employee: Individuals who are employed and contributing to NPS would enjoy tax benefits on their own contributions as well as their employer’s contribution as follows:

  • Employee’s own contribution : Eligible for tax deduction up to 10% of Salary (Basic + DA) under Section 80 CCD(1) within the overall ceiling of Rs. 1.5 lakh under Sec 80 CCE.
  • Employer’s contribution : The employee is eligible for tax deduction up to 10% of Salary (Basic + DA) contributed by employer under Sec 80 CCC(2) over and above the limit of Rs. 1.5 lakh provided under Sec 80 CCE.
  • From  financial year 15-16, there is an additional tax exemption of Rs 50,000 for investing in NPS. For someone in the 30 per cent tax bracket, this is a clear benefit of Rs 15,000 over and above the Rs 1.5 lakh allowed under Section 80 C.

Comparing NPS with other tax saving options

It could also give NPS the much-desired push. Since its launch in May 2009, NPS has been at a disadvantage with respect to other competing savings schemes such as the Employees’ Provident Fund (EPF) and Public Provident Fund (PPF) because of the tax treatment of the final maturity corpus. Public provident fund (PPF) is long-term retirement saving product on which there is clear tax benefit available at time of saving and at time of maturity. For equity mutual funds, while you might not get a tax benefit at the time of investing in , there is no tax on the returns if you stay invested for one year.

At present, NPS and pension plans offer tax deferment, rather than tax savings. While you get tax exemption at the time of investing, you are taxed on maturity.  Our articles Should you Invest in NPS the National Pension Scheme for additional 50,000 and save tax, Saving For Retirement : Pension Plans,NPS,EPF,PPF cover in detail about tax saving options.

How to  open NPS account done offline?

Before eNPs one could open NPS account manually or online through through CAMS on internet or  through ICICIDirect. For manually one had to visit the nearest POP division.For a complete lists of the POP and branches, you can checkout

Now eNPS has been introduced. Now you can register the NPS account online through eNPS. You can also pay online your NPS contribution , even though you have opened account manually.

Transfer to NPS online if you have opened through SBI or State Bank of India account.

If you have account in State Bank of India and open NPS account also in SBI then you can link your NPS account to internet banking and transfer money to NPS online. You need to go to Payment/Transfer tab and select NPS Contributions. Register your account and then transfer.

Transfer to NPS online through SBI

Transfer to NPS online through SBI

How to open new NPS account online through e NPS?

What is e NPS?

e NPS is electronic National Pension Scheme at By accessing the link you can

  • Open Individual Pension Account under NPS (only Tier I / Tier I & Tier II)
  • Making initial and subsequent contribution to your Tier I as well as Tier II account

If you have opened NPS account offline you can also contribute in Tier I & Tier II account using eNPS. For queries on eNPS please contact : 022 – 4090 4242 or write to:

How to Register for new NPS account online?

To open the National Pension Scheme account, you need to register for NPS. You can register with eNPS. If you have Permanent Account Number (PAN) and a Bank account with any of the registered Point of Presence empanelled for KYC verification  Overview of registering NPS online through eNPS  is:

  • Fill the Prescribed application form and submit the necessary Know Your Customer (KYC) documents. Documents required are Identity Proof, Address Proof, Date of Birth Proof, and Two Recent Colour Photographs. KYC Verification in NPS will be done by your Bank selected by you during the registration process.
  • You need to upload your scanned photograph and signature in  jpeg or jpg format having file size between 4kb – 12kb.
  • On the application form, you would need to provide the preferred scheme, and asset allocation choice. The NPS caps the equity allocation at 50%.
  • An initial contribution is collected at the time of opening of account from Debit / Credit card or Internet Banking.This contribution is a minimum of Rs 500 for Tier 1 and for Tier-II it is a minimum of Rs. 1000
  • After successful payment of initial contribution, a Permanent Retirement Account Number (PRAN) is allotted to you. After online account opening process is completed,and a PRAN kit containing a PRAN card, IPIN/TPIN, subscribed master report, scheme information booklet along with a welcome letter is sent to the registered address.

When last checked, on 18 Mar 2017, the Banks associated with eNPS associated with SBI ePay

Sr.No. Bank Name Sr.No. Bank Name
1 Allahabad Bank – Retail 23 Karnataka Bank Ltd
2 Andhra Bank 24 Karur Vysya Bank
3 Andhra Bank – Corporate 25 Kotak Mahindra Bank
4 Bank of India 26 Lakshmi Vilas Bank
5 Bank of Maharashtra 27 Oriental Bank of Commerce
6 Canara Bank 28 Punjab and Maharashtra Co-operative Bank Ltd
7 Catholic Syrian Bank 29 Punjab and Sind Bank
8 City Union Bank 30 Saraswat Bank
9 Corporation Bank 31 South Indian Bank
10 DCB Bank Personal 32 State Bank of Bikaner and Jaipur
11 Dena Bank 33 State Bank of Hyderabad
12 Dhanlaxmi Bank-Corporate 34 State Bank of India
13 Dhanlaxmi Bank-Retail 35 State Bank of Mysore
14 Federal Bank 36 State Bank of Patiala
15 HDFC Retail Bank 37 State Bank of Travancore
16 IDBI Bank-Corporate 38 SVC – Retail
17 IDBI Bank-Retail 39 Syndicate Bank
18 Indian Bank 40 Tamilnad Mercantile Bank
19 IndusInd Bank 41 UCO Bank
20 ING Vysya Bank – now Kotak 42 United Bank of India
21 Jammu and Kashmir Bank 43 Vijaya Bank
22 Janata Sahakari Bank Ltd. Pune 44 YES Bank

What to do After Registration for new account on e NPS?

If you have linked Aadhar then your eKYC is done. If you have not linked Aadhar then.

  • You need to take a printout of the form, paste your photograph (please do not sign across the photograph) & affix signature. The photograph should not be stapled or clipped to the form.
  • You should sign on the block provided for signature.
  • The form should be sent within 90 days from the date of allotment of PRAN to CRA at the following address or else the PRAN will be ‘frozen’ temporarily:

Central Recordkeeping Agency (eNPS)

NSDL e-Governance Infrastructure Limited,

1st Floor, Times Tower,

Kamala Mills Compound, Senapati Bapat Marg,

Lower Parel, Mumbai – 400 013

Steps in Registering new NPS account Online at eNPS

When you select Registration button at eNPS, you are taken to Online Subscriber Registration Form shown in image below (Click on image to enlarge)

Registration of NPS account at eNPS

Registration of NPS account at eNPS

Once you enter the details like PAN number it asks you to fill Personal Details as shown in image below.  Note only those fields marked with * are compulsory or mandatory.

ENPS Enter Personal details

ENPS Enter Personal details

You then have to enter Identity Details as shown in image below

ENPS Identity details for registering new NPS account

ENPS Identity details for registering new NPS account

Once you enter the Captcha details, which here is simple Maths operation, to verify that you are human being and not robot for example as shown in image below

Enter Captcha for opening NPS account

Enter Captcha for opening NPS account

You select Generate Acknowledgement Number.

ENPS Acknowledgement

ENPS Acknowledgement

It verifies if your details matches your PAN details  . If PAN records matches information for NPS registration you get PAN Details confirmation as shown in image below

ENPS Pan Details matches

ENPS Pan Details matches

If PAN details do not match the message shown is below

ENPS PAN details don't match

ENPS PAN details don’t match

Enter the Contact Details

ENPS Contact Details

ENPS Contact Details

Enter Bank Details for Tier 1 and/or Tier 2 Account

ENPS Bank Details

ENPS Bank Details

Enter Scheme Details for Tier 1 and or Tier 2. Our article Returns of NPS, shows the returns of NPS

ENPS Tier1 Details

ENPS Tier1 Details

Enter Nominee Details. If you want more than one  nominee click Add button at the bottom of the nomination details.

ENPS Nomination Details

ENPS Nomination Details

Upload your Photo and Signature. Photo and signature should be in jpg format. Size of photo should be between 4KB and 12KB.

ENPS Upload Signature

ENPS Upload Signature

Check Status of your NPS Registration at

How to contribute to NPS online ? 

All existing subscribers (registered through both online and offline mode) can contribute in Tier I & Tier II account using eNPS. To contribute online, you need to

  •   Have an active Tier I / Tier II account
  •   Authenticate your PRAN using the OTP sent to your registered mobile number
  •   Pay using your Debit / Credit card or use Internet Banking option.

To pay online for NPS click Contribution on eNPS website as shown in image below.

ENPS First Page

ENPS First Page

Authenticate your PRAN using the OTP sent to your registered mobile number

Payment online through eNPS

Payment online through eNPS

After successful contribution to eNPS you should get mail from CRA informing you about successful contribution as shown in image below

eNPS successful contribution

eNPS successful contribution

It would also be reflected in the Transaction statement sent by CRA around 10th of every month.

eNPS CRA account statement

eNPS CRA account statement

For queries on eNPS please contact : 022 – 4090 4242 or write to:

Solution to Errors in uploading documents in eNPS

Following solutions have been suggested by our readers. Try them and let us know if they work for you or not? Which one worked

  • Renaming all files without spaces and saving it to jpeg with .jpg extension and reuploading helped. (Thanks Pritesh)
  • I re-saved all my PDF files on the previous page in a different name and re-uploaded them. (Thanks AGN)
  • Although the site accepts PDFs for PAN and Cancelled cheques, the site, it seems, doesn’t support it. ONLY upload images that should help you proceed. (Thanks Gaurav)

Do you think NPS is a good investment option? Have you contributed to NPS? Would having NPS online make it popular?


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