PRAN Card Details

PRAN, the Permanent Retirement Account Number was introduced in 2004, when the central government launched national pension scheme. It was launched with an intention to encourage employees from unorganized sector to build savings. Eligibility criteria for permanent retirement account number is simple, anyone who is between 18 years and 60 years, can apply.

  • This scheme entails co-contributory pension, wherein the government contributes Rs. 1,000 to every eligible NPS subscriber, who in turn contributes minimum Rs. 1,000 to maximum Rs. 12,000 per annum.
  • Subscribers of NPS must have a PRA, where the relevant savings reflect.
  • It is one of the government schemes, essentially for the central administration employees admitted after 1 Jan 2004, but now it is available for all citizens. These employees automatically enrol to National Pension system where they are offered a PRAN.

Note: It is mandatory for all NPS subscribers to possess a PRAN card. Investment in NPS is not dependent on your contribution to any Provident Fund.

CRA (Central Record Keeping Agency) NSDL

CRA maintains all records of NSDL subscribers. Thus, it is known as the record-maintaining agency of NSDL. It also undertakes customer service and administration related tasks for the subscribers under the NPS-Lite.

How to Apply for Permanent Retirement Account Number?

You can get PRAN registered on National Securities Depository Limited (NDSL). You can register for a PRAN card online on the official website of NDSL by downloading and filling up the form. Further, these applications are yielded to their respective administration officer who transferred the application to Central Record Keeping Agency (CRA).

  • Only the subscribers registered with CRA and Drawing and Disbursing Office (DDO) can get the PRAN. They require firstly registering with CRA and then with DDO.
  • Anyone within the age of 18-60 can apply for the same.
  • The POP-SP sends the application to CRA to generate the PRAN. In case the information is incomplete, CRA may reject the application and then inform POP-SP about it.

Documents Required for PRAN Card

The documents required for permanent retirement account number are mentioned as follows:

  • Scanned copy of photograph bearing signature of the subscriber. This picture must be in jpg/peg of 4kb to 12kb.
  • Aadhar card
  • A photocopy of the address proof. This address must be the one where the subscriber is residing presently.
  • Permanent Account Number (PAN card) issues by the Income tax department.
  • Credit card, debit card, and internet banking information and details to make payments via online or the internet.
  • A bank account that is held in a bank authorized by the NSDL. In case the applicant does not have a bank account in NSDL recognized bank, then he/she can apply offline for this card.

Types of PRAN Cards

As a subscriber, you will be provided a unique 12 digit Permanent Retirement Benefit Number. One of the benefits of permanent retirement account number is that it is valid for lifetime and accessible from any location in India. Below-given are the types of accounts that you can hold under PRAN.

  • Tier I Account: You cannot withdraw funds from this account until retirement. It is specially meant for retirement savings.
  • Tier II Account: It is mean for voluntary savings facility and you can withdraw savings from this type of account, whenever you want to. However, no tax benefit is available on this account.

If you wish to open a Tier I or Tier II account, then duly fill, sign, and submit the form with supporting KYC documents. If you want to open a Tier II account but have an active Tier I account as well, then you can file a copy of Tier I PRAN card with Tier II activation form.

If you are a subscriber from the corporate sector, then fill the Form CS-S1 and submit to the corporate office. In this case, minimum contribution at the time of opening Tier I account should be Rs. 500, while the amount should be Rs. 1,000 in case of Tier II account.

How to Apply for PRAN Online?

There are 5 sections one has to fill up when you apply for PRAN Card online.

  • You need to fill in the Personal information of the subscriber, Employment details, Nomination particulars of the customer, scheme specifics and declaration of T-PIN and I-PIN along with the application.
  • Other obligatory facts to be given include Personal information, employment details, and bank details.
  • However, if you do not have a bank account, you can make a declaration saying the same would be provided within 6 months.
  • There are furthermore optional requirements like PAN card information, scheme preference, etc.
  • You have fill in these details during the registration itself. If you do not choose your plan, the default scheme will be applicable. The plan is held by PFRDA (Pension Fund Regulatory and Development Authority).

Thus, PRAN is one of the essential components of savings for the government employees for a secure future.

Can You Generate More than One PRAN at a Time?

It is not possible to hold more than one PRAN card, but only one because the NPS account is completely portable. When you change employment or employers, you do not have to open new NPS account, but only have to move existing account to the new employer. The NPS account cannot be closed even if you become unemployed. But at present Atal Pension Yojana and NPA are not integrated, thus if you have both these accounts, then you may have multiple PRAN numbers.

Notifications on PRAN Generations

When your Permanent Retirement Account Number is generated, you will receive an alert on email and through SMS. The SMS and email will be sent on registered mobile number and email ID with the CRA. For security reasons, only the last four digits of your account number will be disclosed on all communications.

How to Check PRAN Status?

The PRAN (Permanent Retirement Account Number) card was introduced after inception of NPS (National Pension Scheme) in 2004 by the government of India. NPS is mandatory for all state and central government employees to create savings for the future. One needs to log on to the NSDL (National Securities Depository Limited) website to download the form for applying online.

After this process, an amount of Rs. 50 has to be paid to download the copy. A photograph of the subscriber then has to be pasted on the form, which is posted to Central Recordkeeping Agency. After this process, one can check the PRAN status by following the below mentioned methods:

  • Log in to the official website of NSDL on this link: https://cra-nsdl.com/CRA/pranCardStatusInput.do
  • Select the option ‘new registered PRAN’.
  • Now provide the PRAN number allotted as during the application process.
  • Enter the captcha code and click, ‘submit’.
  • A page will reveal the PRAN card application status.
  • In case you are unable to check the PRAN number status online, you can send enquiry on eNPS@nsdl.co.inor call on 022 – 4090 4242.

Frequently Asked Questions About PRAN Card

Below-given are FAQs regarding PRAN.

  • addFAQs
    1. What is an NSDL NPS Account?
    2. NPS or National Pension System is a pension cum investment scheme. It was launched by the Government of India. This scheme is regulated by the PFRDA (Pension Fund Regulatory and Development Authority). The registered owner assets under NPS, is the NPST (National Pension System Trust, which was established by the PFDRA.

      NSDL NPS is a long-term saving avenue useful to plan effectively for your retirement by allowing you to make regulated and safe market-based return. It offers the old age security to Indian residents and citizens.

    3. What is the tax benefit on NPS account?
    4. You can claim an exemption on tax of up to Rs. 50,000 by contributing to NPA. In 2018, the Indian government made NPS more tax-friendly. It provided complete tax exemption to 60% of the corpus, which you as an investor can withdraw on maturity. The remaining 40% can be utilized to purchase an annuity. The appreciation accrued on contribution and fund used to buy annuity is not taxable. But the amount withdrawn after the age of 60 by the subscriber is taxable.

    5. What happens if NPS subscribers pass away before 60 years of age?
    6. If the NPS account holder expires before the age of 60, the accumulated amount in the account will be provided to the nominee or legal heir of the subscriber.

    7. How to change your mobile number in NPS NSDL?
    8. To change mobile number in NPS NSDL, firstly, you have to login to your NPS account. After this, click ‘Update details’ at the top right corner of the dashboard. Choose ‘Update contact details’. Now, you can update the email/mobile number from the edit option.

    9. How to resent the login password of NSDL NPS?

    You can use 2 options to resent your NSDL NPS password.

    • By Using a Secret Question: At the time of login you may have created a secret question and its answer. This question comes to use when you want to reset the password. You have to enter captcha code appearing on reset password section, along with PRAN, and answer the secret question. If the answer is accepted, then you will be able to reset the password.
    • By Instantly Resetting Password: You can also resent the password through OTP (one time password) received on SMS on your registered email ID or mobile number. You need to provide your date of birth, PRAN, and OTP received to set a new password.

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