PRAN, which stands for Permanent Retirement Account Number, is a unique identification number assigned to individuals who enroll in the National Pension System (NPS). Navigating the complex terrain of financial planning can be daunting, but with the PRAN card, the process becomes more accessible and user-friendly.
Table of Contents Show
Let’s embark on a journey to understand the significance of the PRAN card, how it works, and why it plays a crucial role in shaping a financially sound future for millions of Indians. Whether you’re just starting your career or are already well into your professional life, the PRAN card offers a roadmap to a secure and comfortable retirement.
What is a PRAN Card?
PRAN, or Permanent Retirement Account Number, is an exclusive and transferable identifier assigned to each National Pension System (NPS) subscriber. Upon successful registration, a PRAN is allotted to the subscriber and remains associated with them for the entire duration of their participation in the NPS. This unique number is important for managing various aspects of the pension account, including contributions and withdrawals.
There are mainly two types of National Pension Scheme accounts held under PRAN:
- Tier 1: This account is meant for non-withdrawals and retirement savings.
- Tier 2: Similar to a savings account, this account enables employees to withdraw savings as and when required. It does not provide tax benefits.
Who can Apply for PRAN?
- Only individuals who have registered with both the Drawing and Disbursing Office (DDO) and the Central Record Keeping Agency (CRA) are eligible to apply for a Permanent Retirement Account Number (PRAN).
- To begin this process, individuals must first register with CRA before registering with DDO.
- Any employee or subscriber between the ages of 18 and 60 can apply for a PRAN.
How Can You Apply for a PRAN Card Online?
Option 1 – Registration using Aadhaar Offline e-KYC
- You must have an Aadhaar-registered mobile number
- Visit official Aadhaar website to login with Aadhaar and download e-KYC ZIP file from UIDAI website.
- Enter the share code of 4-characters created at UIDAI website
- Your demographic details (name, gender, date of birth, address and photo) will be fetched from Aadhaar Offline e-KYC Zip after successful authentication and other mandatory details need to be filled up online.
- You need to upload scanned copy of PAN card and cancelled cheque in *.jpeg/ *.jpg/ *.png /*.pdf (unsigned) format having file size between 4KB – 2MB
- You need to upload your scanned signature in *.jpeg/ *.jpg/ *.png format having file size between 2KB – 5MB
- You will be routed to a payment gateway for making the payment towards your NPS account from Internet Banking
- Subscriber have an option to follow OTP authenticate or eSign the registration form
- Contributions are credited in PRANs on T+2 basis (subject to receipt of clear funds from Payment Gateway Service Provider)
Option 2 – Registration using Driving License through Digilocker
- You must have an valid Driving License uploaded in Digilocker
- Demographic details (name, gender, date of birth, address and photo) will be fetched from Digilocker after successful authentication and other mandatory details need to be filled up online.
- You need to upload scanned copy of PAN card and cancelled cheque in *.jpeg/ *.jpg/ *.png /*.pdf (unsigned) format having file size between 4KB – 2MB
- You need to upload your scanned signature in *.jpeg/ *.jpg/ *.png format having file size between 2KB – 5MB
- You will be routed to a payment gateway for making the payment towards your NPS account from internet banking
- Subscriber have an option to go for OTP authenticate or eSign the registration form
- Contributions are credited in PRANs on T+2 basis (subject to receipt of clear funds from Payment Gateway Service Provider)
Documents for PRAN Card Application Online
To apply for a PRAN card online, the subscriber has to provide the following necessary documents:
- PAN card
- Aadhaar card
- Scanned copy of the passbook or cancelled cheque.
- A scanned copy of a passport-sized photograph.
- A scanned copy of the signature
- Scanned passport copy.
Check PRAN Card Status
After registration, a subscriber may have the urge to check the status of their PRAN card, this can especially arise when there is a significant delay.
Step 1: The subscriber needs to visit the NSDL website.
Step 2: Choose “New Registered PRAN”
Step 3: The PRAN number and captcha details need to be entered before hitting ‘submit’.
Step 4: The status of the PRAN card can now be viewed.
The PRAN card application is not complicated and those who have already subscribed to the National Pension Scheme can easily register themselves for PRAN on the NSDL website. PRAN is an important document made mandatory by the government because it serves a number of purposes, identification being one of them. For secure and permanent reference for all NPS-associated transactions, all state and government employees must get their PRAN card registration done at the earliest.
