It is allowed for the subscribers who hold their account for minimum 3 years. Only 25% of the contribution from the account holders can be withdrawn from Tire 1. There is no need of permission or sanction from DDO for this.
Online partial withdrawal can be done easily by logging into the website. Then ‘withdrawal' from ‘Transact online' be selected. Partial withdrawal from Tier1 be clicked. After submitting, percentage of funds to be withdrawn be given along with reason before submission to the nodal officer.
If the account details are correct the amount would be credited within 3 working days.
The handbook on NPS withdrawal would give more info regarding this.
Sri. Robin Samuel, Junior Cooperative Inspector , Cooperative Training Centre, Kottarakkara has prepared a hand book for the employees to understand about this Partial withdrawal scheme easily and clearly. Click the link below to download it.
Latest update:
Can withdraw 25% of subscribers contribution. Documents required
1) Letter from DDO
2) Form 601 PW
3) Copy of subscribers Bank Pass Book or cancelled Cheque
Submit the above documents to concerned Treasury. Also scan the above 3 documents as a single PDF file and mail to the email id of concerned Treasury.
