Point of Presence
Point of Presence (PoPs) are entities appointed by the PFRDA to provide services to all the citizens of India to open and operate their NPS accounts.
They perform functions through their network of branches called POP Service Providers (POP-SP). The operations of these POP-SPs are coordinated and controlled by the POP. A PoP-SP is the first point of contact between you and the NPS.
Functions of Points of Presence
Registration of subscribers
PoPs help you in registering your Tier I or Tier II account. The following steps are involved in the process:
- acceptance of forms
- verification of forms
- processing of forms
Processing of initial contribution
At the time of registration, the PoPs collect duly filled forms from you and make sure that all the details are correctly filled in. They then credit the funds to your respective PRAN account and maintain all your documents.
Regular subscriber’s contribution
PoPs performs all due diligence in accepting NPS Contribution Instruction Slip (NCIS) from you, checks the PRAN no., Name, Payment details etc, and uploads your contribution details online into the CRA system, then remits the clear funds to your PRAN after deducting the charges including applicable taxes to the Trustee Bank on T+1 working day basis (T: date of receipt of clear funds)
Changing subscriber details
PoPs help you to make changes in your NPS account such as:
- personal details
- investment scheme
- printing account statement
- re-issue of I-pin, T-pin and PRAN card, etc.
Handling grievances
View PoP Regulations List of PoPs under NPS