Subscribers of the National Pension System (NPS) can open Tier I (for Pension) and Tier II (for Investments) accounts to create a retirement corpus. NPS provides tax benefits under section 80CCD(1) up to Rs 1.5 lakh and under section 80CC(IB) up to Rs 50,000 (over and above 80C benefit). One can make NPS contributions in the following way.

E-NPS

To make an online contribution, the subscriber can go to https://enps. nsdl.com and click on the ‘Contribution’ tab. The subscriber’s PRAN (permanent retirement account number) and date of birth need to be entered. Upon OTP verification, the contribution to a Tier I or Tier II account can be made.

MOBILE APPLICATION

Download the NPS mobile app. The contribution can be made even without logging in to the app by just entering the PRAN, and date of birth and then clicking on ‘verify PRAN’. After OTP authentication, the subscriber can make a contribution in a Tier I or Tier II account through net banking, debit or credit card.

NODAL OFFICE

For carrying out transactions physically, one can visit the POP-SP location. One can download the NPS contribution slip from http://bit.ly/2ICLtax and submit it to the POP-SP after filing it. An acknowledgment is issued to enable tracking of the contribution.

CHARGES

A POP service charge of 0.1% of the contribution will be applicable (between Rs 10 and Rs 10,000). In the case of subscribers registered in e-NPS through Aadhaar, no charges are applicable for future contributions.

POINTS TO NOTE

Contributions through eNPS are credited to the subscriber’s NPS account on a T+2 basis.

The minimum contribution amount is Rs 500 for the Tier I account and Rs 250 for the Tier II account.