As per SEBI’s Circular (No. OW / 16541 / 2012 dated 24, July 2012). any investor who invests up to Rs. 50,000 per year per MF (Mutual Fund) is now exempted from the requirement of PAN (Permanent Account Number).
However, please note that they will still have to produce KYC (Know your Customer) compliant document, which can now be obtained even without PAN card but on the basis of another valid document of identity like Voter ID Card, Passport, Driving License, Government / Defense ID Card or Card of reputed employer.
The KYC Registration Agencies (KRAs) will allot PAN exempt KYC Ref. No. (PEKRN) & issue suitable acknowledgement for such cases, which can now be enclosed along with applications for Fresh / additional purchases, SIP (Systematic Investment Plan) and STP (Systematic Transfer Plans)
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