D-Remit Contribution on Trail Commission done by NPS The customers who were on-boarded by the respective POP will be same ENPS (another mode of online contribution), said the PFRDA circular issued on August 22, 2022.
As per PFRDA’s circular dated August 22, 2022, “Trail commission for POPs for de-remit contributions of concerned subscribers shall be 0.20% of the contribution amount (minimum Rs.15 and maximum Rs.10,000) equivalent to ENPS. Charges applicable from time to time.” As per the circular, the Commission will encourage their significant efforts and resources to be utilized for sourcing NPS accounts and assist them in continuing their NPS outreach efforts.
PFRDA had increased the charges for NPS related services offered at Point of Presence (POP) outlets with effect from February 1, 2022. According to a notification dated January 31, 2022 on the website of PFRDA, “The process of Exit and Withdrawal Service Fee has been recently introduced, limiting the process of Exit and Withdrawal to 0.125% of the corpus with a minimum of Rs 125 and the maximum fee is Rs 500. Further, the service charge of eNPS has been increased from 0.10 per cent to 0.20 per cent of the contribution subject to a minimum of Rs 15 and a maximum of Rs 10,000. This amendment is effective from February 15, 2022.
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PFRDA introduced de-remit (Direct Remittance) facility so that subscribers can easily deposit their voluntary contributions by creating a static virtual ID linked to their PRAN and remitting the amount from their bank account.
What are POPs?
Point of Presence (POP) are banks, non-banking financial companies and National Pension System Register and Service Subscribers (NPS).
NPS De-Remit Facility
As a “customer centric measure”, D-Remit was created to enable people to transfer money from their savings bank accounts to PRAN using net banking, IMPS, or UPI. A de-remit contribution of at least Rs. 500 in value; Any UPI-based contribution that is Rs. is less than. 500 will be returned by the trustee bank.
how it works
If the Trustee Bank receives the contribution before 9.30 am, this facility will offer NAV on the same day in an effort to maximize investment returns. Its ease of use, operational convenience, and special ability to set SI/auto debit, change auto debit amount, stop auto debit, etc. have made it very popular.
Subscribers should be aware that the De Remit Virtual Account, which starts with either 6001 or 6002, is different from the PRAN attached to it. Tier I and II NPS accounts have different D remit virtual account numbers.