Hey folks, I have to file my withholding details at work by tomorrow. I need to know:
1) Can I open an individual NPS account now, get the PRAN and give it to HR (they only asked for the PRAN)? I can't create a corporate account because my company's head office isn't listed.
2) Which CRA should I use – Protean, CAMS, or just my bank (SBI)? Do the charges differ?
3) Is it possible to convert an individual account into a corporate one?
I'm not sure about corporate accounts.
You can open an NPS account through Protean and just give HR the PRAN.
From what I know, NPS doesn't have a separate corporate account concept.
Check with your HR which service provider they have a tie‑up with, and set up the account only with that provider.
You can also open a personal PRAN first and later migrate it to the provider they use.