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NPS contribution: The central authorities has clarified that no revision in regard to New Pension System (NPS) contribution has been performed for the staff posted at autonomous central our bodies below varied ministries. The Ministry Finance’ clarification got here throughout a written reply on this regard on the ground of the Lok Sabha on ninth August 2021. In its reply, the central authorities stated that for all new recruits to the Central Authorities service from 1st January 2004, month-to-month NPS contribution has been raised from 10 per cent to 14 per cent with impact from 1st April 2019 however for workers of central autonomous our bodies, their month-to-month NPS contribution matched by the central autonomous our bodies remains to be at 10 per cent of their fundamental pay and Dearness Allowance (DA).
Clarifying in regards to the NPS proportion for workers in central autonomous our bodies, the Ministry of Finance reply within the Lok Sabha says, “No determination has been taken by the Division of Expenditure with regard to revision of the Authorities’s month-to-month contribution proportion in NPS in respect of Central Autonomous Our bodies.” The written reply went on so as to add that NPS was prolonged to all the brand new entrants becoming a member of Central Autonomous Our bodies below all Ministry/Division of Central Authorities on or after 1st April 2004. Later, the scope of NPS was prolonged to these workers of Autonomous Our bodies recruited previous to 1st January 2004 and lined below CPF (Central Provident Fund). This NPS scheme offered for the recurring month-to-month contribution charge by the worker at 10 per cent of fundamental pay and DA with an identical contribution by the autonomous physique at 10 per cent of fundamental pay and DA.
The NPs scheme was launched for all new recruits to the Central Authorities service from 1st January 2004, whereby month-to-month contribution of 10 per cent of fundamental pay and DA was to be paid by the worker and matched by the Central Authorities. Thereafter, the Central Authorities’s month-to-month contribution has been enhanced from 10 per cent of fundamental pay and DA to 14 per cent of fundamental pay and DA, for the Central Authorities workers, with impact from 1st April 2019.
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