PFRDA issues Circular for the NPS on-boarding and generation of soft copies of SRF

Jan 13, 2021 | by Avantis RegTech Legal Research Team

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Labour Compliance

The Pension Fund Regulatory and Development Authority of India (PFRDA) on January 08, 2021 has issued a circular for the NPS on-boarding and generation of Soft Copies of NPS subscriber registration forms (SRF) by CRA’s. 

The following guidelines have been given: 

• For NPS accounts opened digitally in CRA platform including eNPS, the soft copies of NPS Subscribers' applications shall continue to be generated by CRAs and a copy thereof shall be shared with the Subscriber. 

• For NPS accounts opened through POP, whether through digital, physical or net-banking mode, the soft copies of NPS applications shall be generated by CRAs, capturing all information about the Subscribers as may be specified by PFRDA, which shall be furnished electronically by POPs to CRAs. CRAs shall also share the soft copies of the application with subscribers for their information.

• For NPS accounts opened by POPs through CRA/CRA appointed Facilitation Centres (FCs), the NPS application forms shall continue to be handled as per existing process i.e. through CRA/CRA’s FCs' and those physical application forms shall be preserved by CRAs under their safe custody.

• CRAs shall also be generating the soft copies for the pre-existing eligible Accounts which are authenticated either through OTP or e-sign.

• CRAs shall ensure that the soft copies of NPS Application which are to be generated by them shall be uniform and in Portable Document Format (PDF).

[Circular No. PFRDA/2021/2/SUP-CRA/2]

 


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