NSDL introduces a new system of Form 26AS registration, wherein it eases the complete process for employees in the organization. In this program, NSDL will automatically register the PAN and provide the password to PAN Holder.
In this process, NSDL will approve the organization to place a request for PAN registration. On such approval, the organization has to submit the list of employees for Form 26AS, along with their Valid PAN and Valid Email ID. Once NSDL receives such data, it will communicate to every employee over email and takes the confirmation for Form 26AS creation. On receipt of confirmation from Employee, NSDL will automatically create a login along with password and communicates it confidentially over the email. Employee has to login to such account with minimum days specified and activate the account.
To begin with, NSDL is analyzing the organizations to place such request. Initially it would be for large companies listed in Stock Exchanges. Also such companies should have quite huge number of employees. Such companies may also be assessed with other criteria, including employee count in TDS statements, etc and once it is satisfied, organization will be approved for placing such request.
The process may also be later extended with more organizations covered under the scheme. Organizations which are listed in stock exchanges and have got huge number of employees can also contact NSDL voluntarily and ask for more information.