NPS Forms: Account Registration, Maintenance and Withdrawal

NPS is a government initiative to encourage retirement savings. The Pension Fund Regulatory and Development Authority (PFRDA) governs this scheme. To subscribe to the NPS scheme, withdraw money, transact, and make other changes, one must fill the NPS form. This article covers all types of NPS forms and procedures to fill them in detail.

What is an NPS account?

National Pension Scheme (NPS) is a Government of India scheme launched to encourage retirement savings. The Pension Fund Regulatory and Development Authority (PFRDA) and the Central Government regulates it. The returns from NPS are market-linked, hence not guaranteed. The pension amount that a subscriber will receive depends on the performance of the underlying assets.

NPS scheme matures when the subscriber turns 60 years of age. Hence the investment is locked-in until maturity. However, the scheme allows partial withdrawals after completion of 3 years from account opening. Subscribers of NPS schemes can withdraw 25% of the accumulated corpus three times during the investments’ tenure. Also, there has to be a gap of 5 years between consecutive withdrawals.

Under NPS, there are two types of accounts, namely, Tier I and Tier II accounts. A Tier I account is a pension account. In contrast, Tier II is a voluntary investment account. Tier I account offers tax benefits, but it also has restrictions on withdrawals. In contrast, the Tier II account has no restrictions on withdrawals but offers no tax benefits.

All resident and non-resident Indians can open an NPS account. However, the age of the subscribers should be between 18 and 65 years. One can open only one NPS account. To open an NPS account, one needs to have a PAN Card, Aadhar Card and a bank account.

Investment in NPS qualifies for tax benefits under Section 80C and 80CCD(1B) of the Income Tax Act, 1961. Investors can claim a deduction of up to INR 2 lakhs. Upon maturity, the investor can withdraw a maximum of 60% of the accumulated corpus. This is entirely tax-free in the hands of investors. A minimum of 40% has to be invested in an annuity scheme. An annuity scheme pays a lifelong pension to its investors. The annuity scheme’s income is taxable as per the investor’s income tax slab rates in the year of receipt.

Types of NPS forms in India

Following are the different types of forms in India.

1. Subscriber Registration Forms

2. Account Maintenance Forms

3. Amount Withdrawal Forms

Subscriber Registration Forms

Following are the subscriber registration forms:

NPS CSRF Form

The Consumer Subscriber Registration Form (CSRF) is the NPS application form. Filling this form is the primary step for registering for the NPS scheme. The NPS CSRF 1 form has to be filled in block letters black ink pen. This section covers how to fill NPS subscriber registration form. One can fill the NPS registration form pdf by entering the following details:

Photograph

On the top left corner of the form, the subscriber has to paste a passport size photograph.

Selection of category

The subscriber has to select the category applicable to them. For example, they can choose either the central government, state government, or corporate sector.

Personal details section

In this section of the NPS account opening form, one has to fill in their name, maiden name, mother’s name, father’s name, date of birth, city and country of birth. They also have to fill in details of marital status, spouse name and gender.

Proof of Identity

In this section of the National Pension System NPS form, the subscriber has to fill in the identification number of any identity documents. The accepted proof of identity is Passport, Voter ID, Driving License, NREGA Job Card and others.

Proof of Address

In this section of the NPS PRAN form, one has to tick any of the accepted address proofs for correspondence address and permanent address.

Correspondence and Permanent Address

In this section of the NPS form CSRF 1, one has to fill in the complete address.

Contact details

This section of the NPS PRAN application form includes details like phone number and Email ID.

Other details

In this section, one has to fill in their occupation details, income range, educational qualifications, and political exposure.

Subscriber’s bank details

In this section, the subscriber has to give the bank account details from which they want to make NPS contributions. The details include bank account number, bank name, branch name, branch address, IFSC code, and MICR code.

Subscriber’s nominee details

This section includes details of the nominee. A nominee is a person who will get the investment proceeds in case of the unfortunate demise of the subscriber. The nominee’s name and relationship with the subscriber are to be filled.

NPS Option Details

In this section, the subscriber chooses to open a Tier II account and get the PRAN printed in Hindi.

Pension fund selection and investment option

In this section, the investor can choose the pension fund manager from the fund managers’ available list. However, they can choose only one fund manager. The investor also has to fill the investment option. There are two investment options available, namely auto and active choice. In case the investor picks active choice, then they have to fill the percentages for asset mix. However, the form includes the maximum limit in each asset class. On the other hand, if the investor picks auto mode, they have to select the maximum cap on equity investments.

Declaration of FATCA

In this section, one has to declare whether they are a person from the USA or no. Additionally, they have to also give their residence status and Tax Identification Number in each country. Here, the subscriber also has to sign along with the date, place and name.

Declaration by the subscriber

In this section, the subscriber has to declare that he/she understood the NPS scheme and all the details provided by them are correct. They have to sign at the end of the section along with place and date.

Declaration by employer

This section applies only to government subscribers. They have to fill in details like date of joining, date of retirement, employee code, and employee group. They also have to fill the office and ministry they are working in along with the DDO registration number, basic pay and pay scale. At the end of this section, the employer has to sign it.

Declaration by corporate

This section applies to corporate subscribers only. Here details of employee joining, employee code, date of retirement, Corporate Regd. Number (CHO No.), and CBO No. have to be filled. At the end of this section, the employer has to sign it.

Declaration by aggregator

This section applies only to NPS-Lite subscribers. The aggregator has to fill and sign this section.

POP-SP Section

This section has to be filled by POP-SP. It includes receipt number, POP-SP registration number, and other details. The authorised signatory has to sign it along with the seal.

CRA – Facilitation Centre

This section has to be filled by the Central Recordkeeping Agency.

Acknowledgement

This section will be filled by the POP-SP and given to the subscriber. The subscriber has to keep this acknowledgement safe as proof.

Documents Required for NPS Form CSRF

Subscribers can submit the following documents.

Identity proof: Passport, Voter ID, Driving License, PAN Card, NREGA Job Card.

Proof of address: Passport, Driving license, Aadhar Card, Ration card, gas bill, water bill, and electricity bill. However, if the investor is submitting utility bills, they shouldn’t be older than two months.

Cancelled cheque

Annexure-1

Annexure 1 to CSRF form is the Tier II account application form. A subscriber having a Tier I account qualifies for a Tier II account. This is a voluntary investment account and hence is not mandatory. Investors have to fill the form with the following details:

• PAN Card number
• Bank account details: In this section, the subscriber has to give the bank account details from which they want to make NPS contributions. The details include bank account number, bank name, branch name, branch address, IFSC code, and MICR code.
• Subscriber’s nomination details: This section includes details of the nominee. A nominee is a person who will get the investment proceeds in case of the unfortunate demise of the subscriber. The nominee’s name and relationship with the subscriber are to be filled.
• Subscriber’s scheme preference: If the investor wants the same fund manager as Tier I account, they can simply tick on the box. In case they want a new fund manager, they will have to fill in all the details. Here, the investor can choose the pension fund manager from the available list of fund managers. However, they can choose only one fund manager. The investor also has to fill the investment option. There are two investment options available, namely auto and active choice. In case the investor picks active choice, then they have to fill the percentages for asset mix. However, the form includes the maximum limit in each asset class. On the other hand, if the investor picks auto mode, they have to select the maximum cap on equity investments.
• Declaration by the subscriber: In this section, the subscriber has to declare that he/she understood the NPS scheme and all the details provided by them are correct. They have to sign at the end of the section along with place and date.
• To be filled by POP/POP-SP/Nodal Office: This section has to be filled by the POP-SP with the registration number, name, date, place, and signature with seal.

Annexure-II

Annexure-II is the additional request details form. Here the subscriber can give the father’s name and mother’s name in full if the same hasn’t been covered on page 1 of the CSRF application form. This form is also useful when the investor wants to get the PRAN Card printed in Hindi. The form requires basic details like the full name of the subscriber and the father’s or mother’s name in Hindi and the subscriber’s sign.

Account Maintenance Forms

Form S2

Account maintenance form or Form S2 is a form that facilitates change or correction in subscriber master details. The form can also be used for Reissue of I-PIN/T-PIN/PRAN Card. This section covers how to fill up NPS Form S2. The form has the following sections:

Before filling a particular section, the subscriber has to state the reason for filling the form. The reason can either be for change or correction in subscriber master details, the reissue of I-PIN or T-PIN, or reissue of PRAN Card.

PAN Card

The subscriber has to fill in the PAN Card number.

Section A – Change or correction in Subscriber master details

In this section, one can request to change their master details. The subscriber should only fill in the details that require a change or correction. Strike off the other sections which are not valid. Here one can change their personal details name, father’s name, mother’s name, date of birth, gender, marital status, and spouse name. They can also change their address, contact details, bank details, and nominee details.

Section B – Request for Reissue of I-PIN/T-PIN

In this section, one can request for reissue of I-PIN or T-PIN.

Section C – Request for Reissue of PRAN card

In this section, one can request for reissue of their PRAN Card. At the end of the form they have to sign a declaration along with the date.

Additional Nomination Form

 This form also includes an additional nomination form. Here one can give details or more than one nominee. The details include nominee name, address, date of birth, and relationship with each nominee. The form also includes the percentage share for each nominee. At the end of the form, the subscriber has to sign along with the date.

Documents required for Form S2

• Subscribers can submit the following documents.
• Identity proof: Passport, Voter ID, Driving License, PAN Card, NREGA Job Card.
• Proof of address: Passport, Driving license, Aadhar Card, Ration card, gas bill, water bill, and electricity bill. However, if the investor is submitting utility bills, they shouldn’t be older than two months.
• Cancelled cheque

Amount Withdrawal Forms

Following are different withdrawal forms for NPS:

Exit from National Pension System Due to Superannuation & Incapacitation

Suppose an individual is prematurely exiting from the NPS scheme. In that case, they have to fill the Exit from the National Pension System Due to Superannuation & Incapacitation form. One can fill the form by entering the following details:

Photograph and Signature

On the top left corner of the form, the subscriber has to paste a passport size photograph. Also, the subscriber has to sign or insert their thumb impression.

Section A – Selection’s Details

Subscriber’s Sector

The subscriber has to select the category applicable to them. For example, they can choose either Government Sector, All India Citizens or Corporate, NPS Lite or GDS.

The subscriber has to enter all their details such as fill their organisation name, PRAN number, full name, gender, father’s name, marital status, maiden name, spouse’s name, spouse gender. They also have to fill in their resignation or exit date, date of birth as per PRAN card, Aadhar card number, PAN card Number, CYC number. Furthermore, the subscriber has to provide details about criminal proceedings and political exposure. Moreover, contact details such as mobile number, and email-id and full address with pin code also have to be filled.

Section B – Subscriber’s Bank Details

In this section, the subscriber has to give the bank account details. The details include bank account number, bank name, branch name, branch address, and IFSC code.

Section C – Subscriber’s withdrawal details

The subscriber has to specify the withdrawal details in this section. The subscriber has to choose between full withdrawal and lump sum plus annuity withdrawal. Also, the subscriber has to provide the percentage allocated to annuity and withdrawal within the specified limits.

Section D – Subscriber’s Annuity Details

The subscriber has to select the annuity service provider that they wish to purchase. In the case of complete withdrawal, this section can be skipped. The subscriber also has to select the preferred annuity scheme and frequency of annuity payments. The subscriber has to sign along with the date at the end of this section.

Section E – Subscriber’s Nomination Details

This section includes details of the nominee. A nominee is a person who will get the investment proceeds in case of the unfortunate demise of the subscriber. The subscriber can nominate up to three persons. Nominee details like name, date of birth, address, contact details and percentage share among others have to be filled by the subscriber.

Section F – Subscriber’s Family Member Details

This section will be filled only if the subscriber has selected Joint Life Policy or NPS – Family Income Option. The subscriber has to provide the names, date of birth and ID proof details of the spouse, children, dependent mother and dependent father.

Declaration by the subscriber

In this section, the subscriber has to declare that he/she understood the NPS scheme and all the details provided by them are correct. They have to sign or insert their thumb impression at the end of the section along with the date.

In case of complete withdrawal, the subscriber has to sign an undertaking, towards the end of the exit form. It is a request cum undertaking form for withdrawal of total pension wealth before the age of superannuation. The total pension wealth is equal to or less than INR 1,00,000. In case of complete withdrawal, the subscriber must fill a form with all the necessary NPS account details like PRAN number, name and age and sign it along with date and place.

Section G – Declaration and Attestation by Nodal Office

This section will be filled by the POP-SP upon receiving the application.

Documents required for Exit from National Pension System Due to Superannuation & Incapacitation

• Subscribers can submit the following documents.
• Identity proof: Passport, Voter ID, Driving License, PAN Card, NREGA Job Card.
• Proof of address: Passport, Driving license, Aadhar Card, Ration card, gas bill, water bill, and electricity bill. However, if the investor is submitting utility bills, they shouldn’t be older than two months.
• Copy of PRAN
• Cancelled cheque

Exit from National Pension System Due to Premature Exit

Suppose an individual is prematurely exiting from the NPS scheme. In that case, they have to fill the Exit from National Pension System Due to Premature Exit. One can fill the form by entering the following details:

Photograph and Signature

On the top left corner of the form, the subscriber has to paste a passport size photograph. Also, the subscriber has to sign or insert their thumb impression.

Section A –  Selection’s Personal Details

Subscriber’s Sector

The subscriber has to select the category applicable to them. For example, they can choose either Government Sector, All India Citizens or Corporate, NPS Lite or GDS.

The subscriber has to enter all their details such as fill their organisation name, PRAN number, full name, gender, father’s name, marital status, maiden name, spouse’s name, spouse gender. They also have to fill in their resignation or exit date, date of birth as per PRAN card, Aadhar card number, PAN card Number, CYC number. Furthermore, the subscriber has to provide details about criminal proceedings and political exposure. Moreover, contact details such as mobile number, and email-id and full address with pin code also have to be filled.

Section B – Subscriber’s Bank Details

In this section, the subscriber has to give the bank account details. The details include bank account number, bank name, branch name, branch address, and IFSC code.

Section C – Subscriber’s withdrawal details

The subscriber has to specify the withdrawal details in this section. The subscriber has to choose between full withdrawal and lump sum plus annuity withdrawal. Also, the subscriber has to provide the percentage allocated to annuity and withdrawal within the specified limits.

Section D – Subscriber’s Annuity Details

The subscriber has to select the annuity service provider that they wish to purchase. In the case of complete withdrawal, this section can be skipped. The subscriber also has to select the preferred annuity scheme and frequency of annuity payments. The subscriber has to sign along with the date at the end of this section.

Section E – Subscriber’s Nomination Details

This section includes details of the nominee. A nominee is a person who will get the investment proceeds in case of the unfortunate demise of the subscriber. The subscriber can nominate up to three persons. Nominee details like name, date of birth, address, contact details and percentage share among others have to be filled by the subscriber.

Section F – Subscriber’s Family Member Details

This section will be filled only if the subscriber has selected Joint Life Policy or NPS – Family Income Option. The subscriber has to provide the names, date of birth and ID proof details of the spouse, children, dependent mother and dependent father.

Declaration by the subscriber

In this section, the subscriber has to declare that he/she understood the NPS scheme and all the details provided by them are correct. They have to sign or insert their thumb impression at the end of the section along with the date.

In case of complete withdrawal, the subscriber has to sign an undertaking, towards the end of the exit form. It is a request cum undertaking form for withdrawal of total pension wealth before the age of superannuation. The total pension wealth is equal to or less than INR 1,00,000. In case of complete withdrawal, the subscriber must fill a form with all the necessary NPS account details like PRAN number, name and age and sign it along with date and place.

Section G – Declaration and Attestation by Nodal Office

This section will be filled by the POP-SP upon receiving the application.

Documents required for Exit from National Pension System Due to Premature Exit

• Subscribers can submit the following documents.
• Identity proof: Passport, Voter ID, Driving License, PAN Card, NREGA Job Card.
• Proof of address: Passport, Driving license, Aadhar Card, Ration card, gas bill, water bill, and electricity bill. However, if the investor is submitting utility bills, they shouldn’t be older than two months.
• Copy of PRAN
• Cancelled cheque

Form for Withdrawal by Claimant due to Death of Subscriber

In case of the death of the subscriber, the claimant has to fill Form 503. The claimant has to fill in the following details:

Section A – Subscriber’s Details

Under this section, the claimant must fill in the details such as PRAN Number, full name, father’s or spouse’s name and date of birth of the deceased subscriber.

Section B – Nominee’s Details

In this section, the nominee’s details such as name, address, relationship with the subscriber, and percentage share have to be filled.

Section C – Nominee’s Bank Details

Under this section, the claimant has to fill in the bank details of all the nominees. Details such as, For Electronic transfer or Direct Credit through ECS/NEFT/RTGS cancelled cheque or bank certificate, type of bank account, bank account number, bank name, branch name, branch address, and IFSC code.

Next, a declaration by the claimant and the nominees’ signature must be filled with their name.

The nominees will have to sign the advance stamped receipt to acknowledge the receipt of the amount.  Also, they will receive an acknowledgement receipt.

Documents required for Form for Withdrawal by Claimant due to Death of Subscriber

The claimant has to submit the following documents.

• Death certificate in original of the deceased subscriber.
• Copy of PRAN card and also the PRAN card needs to be submitted.
• Certified copy of family member’s certificate issued by Executive Magistrate for cases where no nomination was registered.
• Legal heir certificate when the claim is being made by.
• Cancelled cheque (containing nominee Name, Bank Account Number and IFSC Code) or Bank Certificate containing Name, Bank
• Account Number and IFSC code, if opted for direct or electronic transfer.
• A pre-signed receipt acknowledging the receipt of the proceeds by nominee/nominees/legal heir (as applicable)
• Identification and address proof of the nominee(s).

Partial Withdrawal form for Tier I account under NPS.

For partial withdrawals from Tier 1 accounts under NPS, the subscriber must fill the Form: 601 PW. The subscriber has to fill in the following details:

Category: Government Sector, All India Citizens, Corporate Sector, NPS Lite or Swavalamban.

Section A – Subscriber’s Personal Details

In this section, one has to fill in their PRAN Number, name, mobile number, Email ID.

• Percentage of Partial Withdrawal ((Maximum 25% of own contribution (without accrued income earned thereon) only)
• Select the appropriate purpose of withdrawal
• Bank account details, including bank account number, bank name, branch name, branch address, and IFSC code.

Section B – Declarations

This section has to be filled, signed and stamped by the following:

Declaration by the subscriber

In this section, the subscriber has to declare that he/she understood the NPS scheme and all the details provided by them are correct. They have to sign at the end of the section along with place and date.

Declaration by Nodal Office (for government sector subscribers)

This section has to be filled by the Nodal office with the registration number, name, date, place, and signature with seal.

Declaration by POP/ Aggregator(for Non-government sector subscribers)

This section has to be filled by the POP/ Aggregator with the registration number, name, date, place, and signature with seal.

Acknowledgement Receipt

Upon submission of the partial withdrawal application form, the subscriber gets the acknowledgement receipt. The receipt will have the following details:

• Received from PRAN :
• DDO/POP-SP/NL-CC Registration Number:
• PAO/CDDO/DTO/POP/NL-AO Registration Number
• Acknowledgement Number
• Date
• Received at

Documents required for Partial Withdrawal form for Tier I account under NPS

The claimant has to submit the following documents.

• Copy of admission letter and fee schedule for higher education
• Self-declaration for marriage
• Property documents, self-declaration, approved plan, loan offer letter for purchase of house.
• Doctor’s certificate for treatment of illness.
• Disability certificate from a government surgeon for meeting medical expenses out of disability
• Admission letter from university, or copy of invoices for skill development.
• Registration certificate, GST number or proof of ownership of the entity for establishing own venture.

Complete Withdrawal Request Form SS

This is a request cum undertaking form for withdrawal of total pension wealth after attaining 60 years and where the total pension wealth is equal to or less than INR 1,00, 000. The subscriber has to fill in the details such as name, father’s name or husband’s name, age, address, and PRAN number. Subscribers also have to mention the amount they like to withdraw (less than or equal to INR 1,00,000).

The subscriber has to sign at the end of the section along with place and date. Furthermore, attestation by the following is required:

• Signature of the NL-AO/NL-OO/POP/POP-SP
• Name of the Designated Official
• NL-AO/NL-OO/POP/POP-SP Registration Number
• Rubber Stamp of the NL-AO/NL-OO/POP/POP-SP

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