What is the difference with PAN vs PRAN? - GkGujarat.in

What is the difference with PAN vs PRAN? – PRAN, or Permanent Retirement Account Number, is a 12-digit number, just like the PAN Card was a 10-digit number.

  • What distinguishes the PAN Card from the PRAN Card?
  • Learn why a PRAN card is essential for NPS subscribers. If you don’t already have one, this information is very important to you. If you don’t, you might run into many issues. The Permanent Retirement Account Number, or PRAN, is 12 digits long, just like the PAN Card number.

However, each has distinct advantages. It is critical for every Indian citizen to have this card. It shows who has signed up for the National Pension Scheme (NPS) and who they are.

After getting the PRAN number, NPS subscribers can get a PRAN card. NPS subscribers can get a PRAN card. In NPS, PRAN is very important. State and Central Government employees are required to enroll in the PRAN card program.

what-is-the-difference-with-pan-vs-pran
What is the difference with PAN vs PRAN?

The National Securities Depository Limited (NSDL) is where you can sign up for this. when the PAN card is used to access information about income taxes. Without a PAN card, you cannot pay taxes.

Under PRAN, there are two types of NPS accounts: the Tier I account, the Tier II account, and the Tier 1 account. The Tier 1 account is for retirement savings and cannot be withdrawn from. Similar to a savings account, a Tier-II account can be opened. You are able to access your savings through it. However, there is no tax benefit from this.

Functions similarly to Unique ID NPS subscribers’ ability to print a copy of their PRAN card following receipt. In a way, the PRAN card functions like a unique ID. Because of this, the subscriber is unable to alter it. Your PRAN card can be applied for online or offline.

What is the PRAN number?

Go to NPS login entry and snap on Login choice for existing supporters assuming you as of now have PRAN card. To access your NPS Account, you can use the Permanent Retirement Account Number or NPS Account Password on your PRAN Card.

What is the difference with PAN vs PRAN?

These documents are required

  • aadhar card
  • PAN card
  • Permanent Account Number
  • Scanned copy of passport size photograph
  • Scanned copy of bank passbook/ canceled cheque
  • Scanned copy of your signature

Benefits of PAN Card

PAN card is used from opening a bank account to filing income tax returns. PAN card itself acts as a valid document and KYC. Be it investing money in the stock market or buying gold or using it for your identity in any government scheme, PAN card is most widely used as a legal identity card.

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