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NPS Account: Any citizen of the country can open NPS account online. For this, Aadhar card, PAN card and kyc based details are required. At the time of registration itself, a minimum amount of Rs 500 has to be invested under NPS Tier 1 account and a minimum of Rs 1000 under NPS Tier 2 account. To keep both these accounts active, the account holder has to invest some amount every year.
If the annual amount is not invested in the NPS Account (NPS Account Minimum Contribution) every year, then your account may become freeze (NPS Account Freeze) or inactive, which can also be locked later. Account freeze means that you have to activate the account to invest in it. Let us know how you can activate an inactive NPS account.
What needs to be done to make NPS account reactive?
Under Tier 1, NPS account holders have to deposit Rs 6000 every year, else the account will be locked. To unfreeze the account, customers have to pay minimum contribution, minimum contribution of the year and a fine of Rs 100 under the freeze period.
How to do Reactive offline
To unfreeze an account, the customer has to visit the Point of Presence and pay the required fee. There you will have to fill a form, after which your NPS account will be activated.
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How to get reactive online
If you are making contribution to NPS account online and your account has been frozen, your account will be activated as soon as you pay your annual minimum amount. You can contribute to unfreeze the account online using any POP-SP (Point of Purchase Service Provider) or through eNPS.
may be deprived of benefits
If your account gets frozen, then you have to pay the fine. Also, if you can be deprived of many benefits, like you will not get the amount of interest during that period. Also, in case of emergency, you will not be able to withdraw money from NPS account. Money can be withdrawn only by unfreezing the account.
read this also
Tier 1 and 2 accounts of NPS have different benefits, along with retirement benefits, tax benefits are also available
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