Remotely connecting to Postgres instance using psql command

I resolved this issue using below options ...

1. Whitelist your DB host from your network team to make sure you have access to remote host
2. Install postgreSQL version 4 or above
3. Run below command:

psql -h <REMOTE HOST> -p <REMOTE PORT> -U <DB_USER> <DB_NAME>

I figured it out.

Had to set listen_addresses='*' in postgresql.conf to allow for incoming connections from any ip / all ip

psql -h <IP_Address> -p <port_no> -d <database_name> -U <DB_username> -W

-W option will prompt for password. For example:

psql -h 192.168.1.50 -p 5432 -d testdb -U testuser -W