However if you are a part of any other social security scheme and a tax payer, then you are not entitled for government contribution. For instance, members of the Social Security Schemes under the following enactments would not be eligible to receive Government co-contribution:
Approach the bank branch/post office where your savings bank account is held or open a savings account if you don’t have one and fill up the APY registration form.
If you are a net savvy user, you can get enrolled for APY through your savings account directly using internet banking and choose auto debit facility for your contributions. The premium will be debited from your age of enrolment till 60 years.
While, leading banks in the country are offering this facility through net banking, this online option is not available with all the banks and you may have to pay a visit to your bank to get enrolled.
Login to your netbanking account. Select ‘Social Security Schemes’ under ‘My Account’ tab. A new page will appear on your screen. Click ‘select scheme’ dropdown and choose Atal Pension Yojana. Then select your savings account number that you want to link with the scheme and submit. As soon as you submit this page, you get an option to select the Customer Identification (CIF) number. Select the CIF generated which is system generated and submit.
After this step, an e-form will appear on your screen. Follow the instructions given on the screen. Your bank details and personal information shared with the bank during the time of opening your account will be picked automatically. However there will be a few tabs seeking additional contact information like email address, Aadhar number which was not made available to the bank while opening the account. It is not mandatory to provide Aadhaar number for opening APY account. It is however desirable to provide Aadhaar Number for proper identification of the subscriber. Below the personal details tab, you’ll get the option of filing the nominee details.
After filing the nominee details select the pension details; Pension amount, Contribution Periodicity which can be monthly, quarterly or half yearly and the contribution amount. Fill in all the details carefully and submit and download the acknowledgement.
You may e-subscribe for APY with a few clicks, but there’s no option to unsubscribe for it online. To discontinue APY, you need to visit your bank’s home branch which involves a little paperwork and can be a tiresome task.