Pension Fund Regulatory and Development Authority (PFRDA) allows Aadhaar-based offline paperless KYC process for its new subscribers under the National Pension System (NPS). The process enables immediate activation of NPS account due to instant KYC verification and also facilitates the immediate deposit of NPS contribution by the subscriber.
The Aadhaar-based offline paperless KYC verification eliminates the need to provide a physical copy of the 12-digit identifier. As per this process, an applicant has to download the password-protected Aadhaar XML file in the offline mode by accessing the Unique Identification Authority of India (UIDAI) portal through eNPS and share the same for KYC. This facility can also be availed for opening NPS accounts through Points of Presence (POP).
How does the Aadhaar-based eKYC process work?
Upload Aadhaar paperless offline e-KYC zip file. If .xml zip file is not generated, individuals will have the option to migrate to the UIDAI website to download the same and set a four-digit passcode. After this, registration can be done on eNPS website
Now, select appropriate options on the eNPS portal for registration and provide details like mobile number (registered with UIDAI) and upload zip file along with four-digit pass-code for paperless offline eKYC process…..Read More>>