Open NPS Account Using Online Aadhaar Based KYC Process

Aadhar is a 12-digit unique identifier across India. It is digital proof of your identity & address. In order to start the resident people’s enrollment throughout India, UIDAI plays a vital role. The enrollment process is done via thousands of Aadhaar centers. These are set up in different parts of the country. Within a quite short period of time, we have seen the large population of the country get themselves registered with the UIDAI. Any person who is living in India for more than six months can obtain Aadhar. Aadhaar Act clearly disqualifies NRI (Non-Resident Indian) to obtain an Aadhaar card as they do not live inside the country for at least 182 days.

In order to obtain Aadhar, you can visit any Aadhar enrollment center. If you want to apply for the Aadhaar card, you must carry the necessary documents that can verify your address and other details. It will take around three months from the date of application to receive the Aadhaar card. You will receive the card at your registered address. UIDAI levies no fees during the first-time enrollment process. You can get registered with the UIDAI without paying any dime. There are two important pieces of information that are saved during the Aadhaar enrollment process. One is demographic details while the other is biometric details. Details such as name, address, and mobile number are called demographic while eye scan and iris data are referred to as the biometric details. If you are getting old, your biometric details will change over time. So, you will have to apply for a biometric detail update in the UIDAI database.

The national pension system is a voluntary pension system and is very famous among Indians. There are so many benefits available with pension schemes such as tax credits. It was launched in 2004 for Government employees. However, in 2009 it was opened for other sector’s employees as well. Due to rapid enhancement in technology, eNPS was launched to simplify the pension system prevailing in the country. So far, the registration in e-NPS is done using offline e-KYC or via bank account and PAN. Keeping in view the devastating impact of Covid-19, the Pension Fund Regulatory and Development Authority (PFRDA) has initiated Aadhaar based online KYC process.

The new subscribers can join NPS using this new methodology. This new unique digital technology will make it very simple in the generation of Permanent Retirement Account Number (PRAN). In order to register using this new feature, you will have to provide an Aadhaar number or virtual id (VID). Apart from this, a registered mobile number is also mandatory. As the corona pandemic is on rising throughout the country, there is a strong need to deploy processes and procedures that can help us in making very less physical interaction. Social distancing is the key to success in every sphere of life otherwise all human beings will be in great trouble. The step towards opening an NPS account using online Aadhaar based KYC is definitely a smart move towards controlling corona.