look news india
New Delhi: A big update has come regarding central employees. The Central Government has issued a new guideline regarding National Pension System contribution for the employees working under it. The Department of Pension and Pensioners, working under the Ministry of Personnel, Public Grievances and Pensions, issued a memorandum on October 7, in which it has been told about the new guidelines related to NPS contribution of employees.
Contribution will be reviewed from time to time
Apart from this, information about the existing guidelines has also been given in this memorandum, in which the requirements of contribution of 10 percent of the monthly salary in NPS have been explained. According to a memorandum issued by the Department of Pension and Pensioners, the NPS amount will be rounded off to the nearest whole rupee, while the contribution will be reviewed from time to time.
Contribution can be continued even after suspension
If an employee is suspended, he will have the option to continue NPS contribution, whereas if he joins service after the suspension is lifted, the contribution will be recalculated based on the salary at that time. Let us tell you that it has also been made clear in the new guidelines that if there is any mistake in the contribution, it will be deposited in the pension account of the beneficiary along with interest.
Contribution is mandatory even during probation
As per the new guidelines, if an employee is absent or on leave without pay, he will not be required to make NPS contributions. Also, if the employee moves to another department or to another institution, he will have to make such contribution only. Apart from this, it is mandatory for employees on probation period to make NPS contribution also.
In case of delay in depositing the contribution, the entire amount along with interest will be paid.
Let us tell you that the monthly deduction will be deposited by the Withdrawal and Disbursement Officer. After this, the Pay and Accounts Officer will compile the contributions and send them to the Trustee Bank by the end of the month. The memorandum further states that a specific deadline will be set for the month of March. If there is any mistake on the part of the Pay and Accounts Officer in depositing the contribution, then the employee will be given his contribution along with interest.