NPS Withdrawal: National Pension System (NPS) account holders who have not linked their PAN and Aadhaar cards or updated their KYC documents may have their accounts closed under certain conditions, according to the Pension Fund Regulatory Development Authority (PFRDA). PAN and Aadhaar must be linked by March 31, 2023.
Account holders will not be able to withdraw funds from their NPS account until the KYC requirements are met if they do not link their PAN card and Aadhaar card by the deadline. By visiting either the NSDL website or the e-filing portal of the Income Tax Department, account holders can link their PAN and Aadhaar cards.
A circular from July 1, 2022 says that anyone who links their PAN card after the deadline will have to pay a fine of Rs 1,000. On the off chance that the connection isn’t made, the Container card will be pointless. Account holders who are unable to pay the penalty can finish the linking process by going to either the NSDL website or the new portal of the Income Tax Department.
Account holders must first access the CRA-NSDL website and log in before they can link their Aadhaar data to their NPS account. They must then update their Aadhaar number by selecting “update details” from the sub-menu.
A one-time password (OTP) should be generated and entered after they enter their Aadhaar number. When the OTP is placed, the Aadhaar will be connected with the PRAN. It is crucial that the data in the Aadhaar and PRAN be identical.
