Posted by: Girija Gadre on Jun 08, 2020, 06.30 AM IST
The National Pension System (NPS) is a government scheme that helps subscribers save for their retirement. All citizens of India and even non-resident Indians (NRIs) can open an NPS account. There are various modes of making contribution to the NPS, like cheque, online transfers through internet banking or using the UPI mode. We will discuss how one can make a contribution to NPS account using UPI.
UPI activation To be able to make a contribution using UPI, the key requirement is to have an UPI ID. If this is not already available, the subscriber needs to download the UPI application of the bank. An UPI id of the subscriber’s choice needs to be registered on the application.The bank account of the subscribed needs to be linked to the UPI ID and MPIN needs to be set up for authorisation of UPI transactions.
NPS login The subscriber needs to login to the NPS website using the link https://enps.nsdl.com/ or https://enps.kfi ntech.com/. The subscriber needs to enter the PRAN (Permanent Retirement Account Number) to login to the portal. An OTP is sent to the registered mobile number for verification.
Payment via UPI For making a contribution, the subscriber needs to choose the payment mode as UPI and enter the UPI ID. A notifi cation will be sent on the UPI application for making the payment. The payment will be authorised after entering the MPIN for the second time for authorisation of transaction.
Points to note
A POP service provider may levy a transaction charge of Rs 10 on the contribution and GST is charged at the applicable rate.
Maximum contribution that can be made using UPI mode is Rs 2,000 in a single transaction including transaction charges and GST.
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