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The subscriber should make an initial contribution of atleast Rs.500/- for Tier I account and Rs.1000/- for Tier II account. Initial contribution is optional for Tier I account for Corporate subscribers.
1. The contributions for Tier I account, are deducted from the salary and transferred to the associated POP by the Corporate Head Office (employer). They are then paid into the subscriber’s PRAN account by the POP.
2. Subscribers can also make their contributions to Tier I (additional contribution) or Tier II accounts, by depositing the contribution amount with their associated POP, along with a NCIS (NPS Contribution Instruction Slip), giving details of PRAN etc. They may contact the POP associated with the Corporate, regarding the mode of payment (Cheque/Net banking etc.)
3. They may also transfer the contribution online using the eNPS link- https://enps.karvy.com/
For Tier I account, minimum amount per contribution is Rs.500/-.
For Tier II account, minimum amount per contribution of Rs. 250.
The subscriber’s account would be “frozen”, i.e., further transactions will not be allowed in his/her Permanent Retirement Account. If Tier I account is frozen, Tier II account also automatically stands frozen.
Units will be allotted only after funds are reconciled by bank. Generally, it takes 2-3 working days by which Trustee Bank reconciles the funds and provides the confirmation.
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