NPS account is one of the best options for post retirement life along with being ahead in terms of tax savings and returns. If your NPS account has been temporarily frozen, then there is no need to worry much for that. You can get the NPS account restarted online or by visiting the bank and post office. For this you have to keep some things in mind.
Account will start with this process
PRAN (PRAN) i.e. Permanent Account Number is given to invest in NPS. Once the NPS card is frozen, Form UOS-S10A is given from the bank or post office. You can fill it and deposit it in the bank or post office. Apart from this, you can also fill the form online.
You will also have to submit this filled form to the bank or post office, but with this the account gets restarted soon. You can download and fill the online form by visiting the link https://npscra.nsdl.co.in/download/non-government-sector/all-citizens-of-india/forms/UoS-S10A-Unfreezing%20of%20PRAN.pdf can.
NPS is ahead in returns
The average return in NPS in the last 10 years is more than 12 per cent. Apart from this, investment in this gets tax exemption of Rs 1.50 lakh under section 80C. In addition, an additional tax exemption of Rs 50,000 is also available on investment in NPS. Financial advisors say that NPS is one of the best options for life after retirement.
Amount can be deposited anytime
One has to deposit a minimum of Rs 1000 in NPS in a financial year. PFRDA has recently given another facility to the investors in NPS. Under this, investors can deposit the amount in the NPS account at any time as per their convenience in a financial year. There is no minimum limit and duration for this amount.
