Unlike National Pension Scheme where subscriber in the age group of 18 to 65 years of age can take the benefit of the pension scheme. Atal Pension Yojana (APY) let the people in the age group of 18 to 40 years of age take its benefits. Any person with valid bank account or post office saving accounts can apply for Atal Pension Yojana and get the fixed pension benefit ranging from Rs. 1000 to Rs. 5000 each month depending on the amount of contribution subscriber make.
There is one more benefit of the Atal Pension Yojana. The subscriber can use the contribution made to the APY scheme to claim tax deductions under the section 80 CCD (1) of the Income-tax Act, 1961. All that a subscriber need to claim it is contributions statement proof. Subscriber also needs to make sure that the contributions they are making to the APY scheme are getting credited to their account as there is a penalty for late credits.
Highlights of the Atal Pension Yojana:
1. The scheme gives the fixed pension benefit to the subscriber after the retirement
2. Anyone in the age group of 18 to 40 years of age with valid bank or post office savings account can enroll in the scheme
3. The contributions made to the Atal Pension Yojana can be used to get the benefit of the tax deduction by providing the transaction statement
How to get Contributions Statement?
Well, there are two ways to get the statement. First is by visiting the official website of National Pension Scheme (NPS) and secondly by downloading the APY and NPS Lite mobile apps from Google Play Store. But before you proceed with the procedure make sure you have the Permanent Retirement Account Number which is known as PRAN number. Subscribers receive their PRAN number via SMS while registering for the scheme. PRAN is mandatory while using a mobile app, for website bank account number is enough.
Via Website: Follow the steps given below in order to track your contributions.
1. Visit the link and click on APY e-PRAN / Transaction Statement View: https://www.npscra.nsdl.co.in/scheme-details.php
2. After getting on another page choose one option, “With PRAN” or “Without PRAN”
3. If you select with PRAN you need to provide PRAN number and bank account number
4. If you select without PRAN then you need to provide your name in Subscriber Name blank, bank account number and your date of birth
5. In the Views for Subscriber, section select ALY e-PRAN View
6. Enter the captcha and hit the SUBMIT button
After this, you can see your detailed transaction statement and other information like start date, amount you are paying for contribution and service provider.
To track the contribution via an app, download the APY and NPS Lite app and log in using PRAN number. The OTP code will be sent to your mobile device which gets auto detected and then hit the Login button.
Contact Details: In case of any problem regarding the procedure or accessing your account please refer the below mentioned links.
Contact NSDL Technology, Trust & Reach: https://www.npscra.nsdl.co.in/contact-us.php
In case you want to know more about the Atal Pension Yojana, have a look at this article “Atal Pension Yojana” and get to know about the scheme, its benefits, eligibility criteria, documents required for the scheme.