National Pension System (NPS) is an important milestone in the development of a sustainable and efficient defined contribution pension system in India.

Elite Wealth Advisors Ltd (EWAL) is an PFRDA registered NPS Point of Presence (POPs) for accepting All citizen of India / Corporate Sector NPS applications and their contributions.

National Pension System is now available to all citizens of India with effect from May 1, 2009 and additional investment of Rs.50,000 will be eligible for tax deduction under section 80CCD (1B) of Income Tax Act, 1961.


NPS Eligibility:

1) Any citizen of India-resident or Non-resident, in the group of 18 to 65 years can open NPS account.

2) PRAN: Permanent Retirement Account Number (PRAN) will be issued to individuals registered under NPS.

3) Type of Accounts

Tier I – This is permanent retirement account in which subscriber contributes for accumulation of pension wealth.

Tier II – This is optional saving facility as an add-on to Tier I account. There are no restrictions on withdrawals.  

4) Contribution Requirement:

Particulars Tier I Tier II
Minimum Contribution at the time of account opening Rs 500/- Rs 1000/-
Minimum amount per contribution Rs 500/- Rs 250/-
Minimum Total contribution in Financial year Rs 1000/-
Minimum frequency of contribution in Financial year 1 1


5) Additional Tax Benefits:

Subscriber is allowed extra tax deduction in addition to the deduction allowed under Sec. 80CCD(1) for additional contribution in his NPS account subject to maximum of Rs. 50,000/- under Sec. 80CCD(1B) of IT Act, 1961.

6) Maturity: (On attending the Age of 60 years)

Minimum 40% of accumulated Fund should be used to purchase an annuity.

Maximum up to 60% of accumulated Fund can be withdrawn.

7) Partial Withdrawals:

One should be in NPS for at least 10 years and withdrawal can happen only against specific reasons.

Amount to be withdrawn should not exceed 25% of contribution made by subscriber.

Withdrawal will be allowed max 3 times during entire tenure with the gap of 5 years between 2 withdrawals.


Documents Required:

Particulars Instructions
Photograph Affix recent colour photograph
DOB proof Please ensure DOB matches as indicated in the documents provided
ID proof Self attested copy of PAN Card,
Address proof Self attested Copy of Aadhar Card
Contribution cheque In favour of “ Elite Wealth Advisors Ltd – Collection account NPS Trust
Cheque Amount Contribution amount + Charges