Money Excel - Personal Finance Blog

Menu
MENUMENU
MENUMENU
  • Home
  • Business Ideas
    • 225 Small Business Ideas
    • 40 Online Business Ideas
    • 20 Business Ideas for Beginners
    • 20 small manufacturing business
    • 30 Food Business Ideas
    • 100 Business Ideas low investment
  • Stock Market
    • Best Demat & Trading Accounts 2021
    • Best Virtual Trading Apps
    • Best Stock Screener
    • Best Discount Brokers in India
    • Multibagger Stocks of LockDown
    • Rakesh Jhunjhunwala Portfolio
  • Mutual Funds
    • Best Mutual Funds 2021-22
    • Best Direct Mutual Fund Platform
    • Best Mutual Fund Mobile Apps
  • Incometax
    • Income Tax Calculator FY 2020-21
    • Latest Income Tax Slab FY 2021-22
    • Income Tax Refund Request
    • Pay Advance Tax Online
    • Download New 15G -15 H Forms
  • Investment
    • Best Investment Options 2021
    • Long Term Investment Options
    • Best Investment Regular Income
    • Best Investment Options NRI
  • Credit Card
    • Best Credit Cards 2021-22
    • Best credit card for online shopping
    • Best Forex Card in India
    • Best Business Credit Cards
    • Credit Cards against Fixed Deposit
  • Insurance
    • Best Term Insurance Plans 2021
    • Best Health Insurance 2021
    • Best LIC Policy 2021
    • Best Car Insurance Companies
    • Best Mobile Insurance Companies
  • Downloads
Home
Investment
How to Unfreeze Your Frozen NPS Account?

How to Unfreeze Your Frozen NPS Account?

Raviraj Parekh January 26, 2020

Frozen NPS Account

NPS (National Pension Scheme) is the most popular investment option for tax-saving and retirement.

You can claim additional tax benefits under section 80CCD for contribution to the NPS account. I opened my NPS account last year. A few days back I received one SMS – “You have not contributed Rs.1000 in FY 19-20 in your Tire I account under PRAN XXX2934. Please contribute at the earliest to avoid freezing your account.” This message was ignored by me somehow and my NPS account was freeze. I have gone through the pain of unfreezing my NPS account. Here is my experience along with detail about various methods to use for unfreezing your Frozen NPS account.

Under what conditions your NPS account get frozen

Do not miss below posts -
  • Investment Options of Middle Class – Worth for investment?
  • 3 Different Investor types – Which is Best?
  • Where to invest money in 2015

Your NPS account can become inactive or frozen under the following conditions.

  • As per the mandatory requirement you need to invest a minimum Rs.1000 during a financial year. If you fail to invest/deposit a minimum Rs.1000 during the financial year. Your account will become inactive.
  • KYC is mandatory for opening NPC account. Once you open NPS account online, your bank/POP needs to verify your details and update CRA. If your KYC form is rejected by Bank/POP or information is not verified in CRA, your account will be frozen.

Follow the process given below to unfreeze your inactive NPS account.

Also Read – NPS Online Payment – How to make NPS Online Payment?

How to unfreeze your NPS account?

Condition 1 – NPS Account is frozen due to No minimum contribution

Online Method

The simplest method to unfreeze NPS is visiting eNPS portal and making a mandatory contribution by clicking on the “Contribution” button on the website.

Once you click on Contribution button, you will be taken to contribution page where you need to enter PRAN number, date of birth, NPS subscriber type.

You can receive OTP via SMS or Email. On entering OTP your PRAN is verified and you will be able to contribute to your account. Once minimum amount is contributed your account will be in active stage.

Offline Method

Another method to unfreeze your NPS account is offline method. In this method, you have to physically visit POP-SP (Point of presence service provider). You can locate nearest NPS POP from NSDL website. Click here to locate NPS POP-SP.

You need to make contribution to NPS account by filling up NCIS (NPS Contribution Instruction Slip). This slip contain information such as PRAN, Name of subscriber, Cheque/DD number etc. You can download NCIS slip from here.

You need to provide cheque or DD in favor of “POP (Name of the POP) Collection Account – NPS Trust”. The amount will be deposited against your PRAN and your account will be activated again.

Condition 2 – NPS Account is frozen due to KYC rejection

If your NPS account is frozen due to KYC rejection by Bank follow the steps given below.

  • Take a printout of the Registration form, paste photo and affix signature.
  • Approach your POP for verification. POP needs to verify the Identity details, Address details and PAN details.
  • Get these details (at each place) in the Registration Form authorised and stamped by the POP. The POP official’s Employee ID should also be mentioned.
  • Once verified, you are requested to send the form to POP.

Once the details are updated in CRA system, PRAN will be activated to make further contribution under NPS.  You will receive notification on the registered e-mail id.

Tweet
Share
Whatsapp
Pinterest
Prev Article
Next Article
Tags:Frozen NPS Account Method to Unfreeze NPS Account NPS Account NPS Account KYC rejected Unfreeze NPS Account

About The Author

Raviraj Parekh

Raviraj is the man behind moneyexcel.com. He is PGDBA, engaged in blogging for 10 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

One Response

  1. N M Ghedia

    worst service nps no toll free number.never open nps

    February 13, 2021

Leave a Reply Cancel Reply

Search

Top Posts & Pages

  • Income Tax Calculator FY 2020-21 (AY 2021-22) – Excel Download
  • Rakesh Jhunjhunwala Portfolio Holdings - February 2021
  • Download Income Tax Calculator FY 2021-22 (AY 2022-23)
  • 20 small manufacturing business ideas with low cost
  • Cash Deposit Machine Locator – How to find CDM Near You?
  • LIC Premium Paid Certificate Download For Income Tax Purpose - Online
  • How to check Property Records and Land Records online in India?
  • 235 Small Business Ideas with Low Investment in 2021-22
  • 30 Food Business Ideas with low investment
  • 10 Best Small Trading Business Ideas

Subscribe to Blog via Email

Join 5,476 other subscribers

Follow MoneyExcel

Money Excel – Personal Finance Blog

Personal Finance Blog
Copyright © 2021 Money Excel - Personal Finance Blog
| About |Downloads | Contact Us | Sitemap | Disclaimer | Privacy Policy |