The subscriber who is already having a PRAN need not apply for a fresh PRAN when he / she joins a company which is registered under corporate sector. To update the association of the PRAN with the new corporate, the subscriber needs to submit a ISS-1 form (for shifting from a different sector) or a CS-S3 form (for shifting from a different corporate) to the current employer.
"NPS provides platform for corporate to co-contribute for its subscribers or facilitate them to contribute for their pension. There are three variations of contributions from employer and employee:
- Equal contributions by employer and employee
- Unequal contribution by the employer and the employee
- Contribution from either the employer or the employee"
There is no requirement for minimum number of employees for adopting NPS.
Adopting NPS will not dilute any statutory requirement for the corporate.
At present, there is no limit on maximum amount of investment in NPS.
Total contribution (employer and/or employee) in Tier I for a financial year should be Rs. 6000
Yes, a corporate can change the associated POP. To change the POP, corporate requires to send a duly filled CHO-3 form to NSDL.
Yes, a corporate can change the scheme preference once in a financial year. To change the scheme preference, corporate requires to send a duly filled CHO-2 form to NSDL.
Yes, a subscriber can make voluntary contribution through the associated Point of Presence (POP) of the corporate (i.e., the POP selected by the corporate for operationalisation of NPS).
The corporate subscriber can open Tier II account along with Tier I account by submitting composite application form (CS-S1). Further, a subscriber with an active Tier I account can also activate the Tier II account by submitting UOS-S10 form to the associated POP. After activation, the subscriber can contribute in his/her Tier II account through any of the registered POP-SP across India.