nps vatsalya scheme apply online | NPS Vatsalya Scheme Eligibility, Tax Benefits & How to Apply Online?

nps vatsalya scheme apply online, pdf, last date, benifits, eligibility

NPS Vatsalya Scheme (NPS Vatsalya Scheme) has begun: a new scheme to save money in the name of minors, pension for children.
Finance Minister Nirmala Sitharaman announced in the Union Budget 2024-25, the NPS Vatsalya scheme, which is an advanced part of the National Pension System, is coming up from September 18. The project is named as the NPS Vatsalya. The announcement was made by the Finance Minister in the 2024 budget. Under this scheme, parents can invest in the future of children. Parents can open an account under the scheme in the name of children under the age of 18. An investment is required at least one thousand rupees per year. Come on, let’s know the full information about this project.

What is the NPS vatsalya scheme?

Vatsalya NPS Scheme is a pension scheme designed by the central government. The scheme was first limited to government jobs. But now the universal anyone can get NPS. And before the NPS was limited to 18 to 70 years of age. It is a new pension scheme for saving money in the name of minors. Under this scheme, parents can save money on behalf of children. Union Finance Nirmala Sitharaman has announced a National Pension Vatsalya Scheme for Children in the Central Budget 2024. The National Pension Scheme is a retirement scheme, which can start investing money from the age of 18 and invested up to the age of 70.

Who is eligible for NPS scheme

After the child is 18 years old, the NPS account will be converted into a regular NPS account. Then in the days after the account that the parents managed by the parents is 18 years old, the child will have the opportunity to manage the NPS account. However, new KYC documents have to be submitted. It will be able to save money and the value of money and discipline after they are adult.

Who is eligible for NPS Vatsalya

Indian citizens below 18 years of age

Non-Resident Indian (NRI) and Overseas Citizen of India (OCI) persons below 18 years of age

A child’s parent or guardian can open an account on behalf of a minor  

Can we withdraw money from the NPS Vatsalya schemes?:

Three years after the account is opened under the NPS Vatsalya scheme, there will be partial withdrawal. The child can be withdrawn three times until the age of 18 years. After the age of 18, the scheme may be out of the scheme. If your investment is less than Rs. If more than Rs. 20 percent can be obtained as a lam Sum.

Documents for NPS Vatsalya Scheme

Following documents are required to open NPS Vatsalya Scheme:

Aadhaar card of parents

Proof of date of birth of minor

Guardian’s signature

Scanned copy of passport in case of NRI subscribers

Scanned copy of foreign address proof in case of OCI subscribers

Scanned copy of bank proof in case of NRI or OCI subscribers

What is the benefit of NPS ?:

This is a long investment. Gives a financial security for the future of the child.
The account holders get a certain amount of interest from this scheme. After the account of the minor is converted into a full NPS account, whoever the accounter can get a substantial (substantial) amount with the amount of interest in the account after reaching the retirement age of 60.

Who is eligible to get the NPS affection plan?:

Parents, parents, NRIs have the opportunity to open NPS Vatsalya in the name of their minors. It prompts children to invest in an early age and increase income over time. The scheme costs at least Rs 500 per month. Or Rs 6,000 annually. Can invest.

How to open/apply for NPS Vatsalya Scheme?

Parents or guardians can open NPS Vatsalya Scheme on eNPS website or through Points of Presence (POPs) which include India Post, major banks, pension funds etc.

The process for opening an NPS Vatsalya Yojana account online is as follows:

Step 1: Visit the eNPS website.

Step 2: Scroll down and click on the ‘Register Now’ option under the ‘NPS Vatsalya (Minors)’ tab.

Step 3: Enter Parent’s Date of Birth, PAN Number, Mobile Number and Email and click on ‘Start Registration’.

Step 4: Enter the guardian’s mobile number and the OTP received in the email.

Step 5: Once the OTP is verified, an acknowledgment number will be generated on the screen. Click ‘Continue’.

Step 6: Enter details of minor and parents, upload required documents and click on ‘Confirm’.

Step 7: Make an initial contribution of Rs.1,000.

Step 8: PRAN will be generated and NPS Vatsalya Account will be opened in the name of the minor.

How to get an NPS scheme?:

This scheme can be opened on the National Pension Scheme, which is designed for the NPS scheme.