Kolkata:

According to the communication, the charges will be different for the employees of the private sector and the government sector. Let’s have a look at the new fees.

NPS and UPS (Govt sector):

For both NPS and UPS, a government sector employee has to pay the following:

Opening of PRAN: Rs 18 for an e-PRAN kit

To get a physical PRAN card: Rs 40

Annual maintenance of account: Rs 100 for each account. (However, those with zero balance need not pay.)

Transaction charge: Zero

APY and NPS-Lite:

Opening of PRAN: Rs 15.

Annual maintenance of account: Rs 15

Transaction charge: Zero

NPS and NPS Vatsalya (Private sector)

Opening of PRAN: Rs 18 for e-PRAN kit

To get a physical PRAN card: Rs 40

Transaction charge: Zero

NPS account maintenance charges:

The account maintenance charge are not fixed but will depend on the size of the Tier I corpus of the NPS subscriber. The charges will be as follows from October 1:

Balance up to Rs 1 lakh: Zero

Balance between Rs 1 lakh and 2 lakh: Rs 100

Balance between Rs 2,00,001 and 10 lakh: Rs 150

Balance between Rs 10,00,001 and 25 lakh: Rs 300

Balance between 25,00,001 and 50 lakh: Rs 400

Balance in excess of Rs 50 lakh: Rs 500

Ceiling for fees:

It has also been pointed out that the new charges are the ceilings. Central recordkeeping agencies cannot charge more but they are free to charge lower fees whcih can be negotiated with employers or subscribers. This latest revision marks the completion of the five-year price discovery cycle stipulated under the CRA regulations. This communication was issued under Section 14 of the PFRDA Act, 2013.

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