Sunday, April 4, 2021

NPS Rulings

 CCS (Implementation of NPS) Rules 2021 notified

Came into effect from 30.3.2021

Some of rulings are:

1. Employee's and Employer's Contribution under NPS Should be credited to NPS PRAN before last working day of each month. (Rule 6 and Rule 7)

2. New application for opening of PRAN should be collected from new recruits with in 3 days (Rule 4)

3. Interest on delayed credits allowed. The interest shall be paid to employees with in 30 days of the delayed credit. Rate will be equal to PPF rates (Rule 8)

4. VRS option introduced for employees covered under NPS after 25 years of service. And they will be benefited under same terms and conditions of superannuation (Rule 12)