FAQs for Central/State Autonomous Bodies. Question Answer

Transcription

1 FAQs for Central/State Autonomous Bodies Question Answer 1. Is NPS applicable to employees of Central Autonomous Bodies? 2. How do the CABs join NPS? 3. What are the various steps in joining NPS adopted by CABs? 4. What is LoC? 5. What is legacy amount? Yes. In line with the decision of GOI to introduce NPS for new entrants recruited in Central Govt service on or after 1/1/2004, it was decided vide OM 1(13)/EV/2001 Dt 13/11/2003 Department of Expenditure, Ministry of Finance that all new entrants in all Central Autonomous Bodies(CAB) under various Central Ministries/Departments recruited on or after 1/1/2004 will also be governed by the NPS. Department of Expenditure, Ministry of Finance, GOI vide its OM No 1(13)/EV/2008 Dt 30/1/2009 advised CABs to submit Letter of Consent (LOC) indicating their formal commitment towards discharging their obligations under NPS through the Financial Advisors(Fas) of the respective Ministries/ Departments. The various steps are enumerated as below, 1. The CABs submit their Letter of Consent (LoC) to PFRDA through the Financial Advisor of the respective Ministry. 2. PFRDA after receipt of LoC from FA, instructs CRA to register the Autonomous Body in the CRA system and issue the nodal office registration number. 3. After registration of nodal office, the CAB shall be proceeding with subscribers registration and transfer of regular and legacy amounts. 4. For detailed Step for CAB registration, LoC is the formal commitment letter submitted by a CAB to fulfill the following obligations viz, 1. Covering all the employees joined on or after 1/1/2004 under NPS. 2. Shifting into NPS architecture in a time bound manner. 3. Adopting method of uploads like centralized or decentralized models. 4. Receiving direct billing from CRA. Though NPS was made mandatory for all CABs effective from 1/1/2004 but they joined CRA system on different dates. Hence the contribution

2 Is NPS applicable for those entities where CPF is in force? Is transition from CPF to NPS permitted for the employees of Autonomous Bodies? What are the salient features of the above scheme? What will be the date of effect in case of transition from CPF to NPS in case of employees who joined prior to ? Is NPS applicable for employees joining after in autonomous bodies which are covered amount lying with those CABs from 1/1/2004 till the date of regular upload is called as legacy amount. The legacy amount has to be transferred into NPS immediately after completion of registration formalities. Yes, it is mandatory for those entities under CPF to join NPS effective from 1/1/2004. Please refer the THE CONTRIBUTORY PROVIDENT FUND RULES (INDIA), 1962 Rule No 4. Yes. The organizations are permitted to shift to NPS in respect of employees who have joined before 1/1/2004 vide OM dt 30/6/2009 No 1(2)/EV/2007 Department Of Expenditure Ministry of Finance. The facility to move into NPS is optional for the employees who have joined prior to 1/1/2004 and the procedure for NPS would be identical to that presently applicable for employees appointed on or after 1/1/2004. The other detailed operational features are as follows, a. The existing corpus of CPF (both employees and employers ) would be moved over to the trust fund accounts under NPS. b. In order to facilitate the transition from CPF to NPS, the autonomous body would make in addition one time ex gratia payment of 10% of the employer s contribution for each of the employees opting to switch over to NPS. c. Recurring monthly contribution by 10% of Basic Pay + DA and a matching contribution by the autonomous body would be payable. d. The employer s contribution would be payable from the month the organization/employee shifts over to NPS and would be limited to 10% of Basic Pay + DA. Date of effect will be the date when such option is exercised by the concerned employee. The employees recruited before 1/1/2004 is given with the option either to remain in CPF or switch over to NPS. The mandatory program under EPFO and other special provident funds would continue to operate as per the existing system under the EPF & MP Act, Hence NPS would not be applicable for those employees

3 under Employees Provident Fund & Misc. Provisions Act, Is it required for an employee joining a CAB to apply for a PRAN if he is an existing subscriber of NPS? Is NPS applicable for State Autonomous Bodies (SABs)? How does a SAB join NPS? Who can be contacted in case of any doubts regarding NPS implementation? How do the NPS remittances are to be transferred to the Trustee Bank? What are all the various charges borne by Autonomous Bodies or its employees towards NPS implementation? mandatorily covered by EPF rules. No. The same PRAN may be used after submitting Inter Sector Shifting (ISS) form if required. The applicability of NPS among SABs is decided by the concerned State Government and the respective State notifications on NPS may be referred for checking applicability or the matter may be taken up with the State Government. The respective SAB has to submit Letter of Consent (LoC) to PFRDA thorough the concerned administrative department of the State Government. The officials of following office may be contacted for any further clarifications, 1. CRA / /4541/ Trustee Bank(Axis Bank) (Toll Free) or /5884/ PFRDA /49 The funds can be transferred to the Trustee Bank (Axis Bank) in NPS only through electronic mode i.e. RTGS/NEFT. The electronic fund transfer can be done through the accredited bank of the organisation by mentioning the following details: character string PAOFIN<7digit PAO registration number><13 digit transaction id> in Sender to Receiver Information (field 7495 only). RTGS/NEFT remittances should be through R-41 RTGS format only. 2. IFS Code- UTIB0NPS001 *The Account Number will be the 7 digit PAO registration number allotted by CRA. Charges levied by CRA which are borne by the employer are, Account Opening Charges Rs. 50 Annual Maintenance Charges Rs. 190 p.a. Transaction Rs.4

4 17. Can existing NPS subscribers furnish /update their ID and Mobile Number instantaneously? Re-print PRAN Card Rs. 50 Re-print i-pin/t-pin- Rs. 50 The Fund Management Charges (FMC) are % and Custodian charges are % for Electronic Segment and 0.05% for physical segment.). There won t be any Trustee Bank charges. Yes. The following are the steps for instant modification of ID/Mobile Number, Login to CRA System with PRAN and I-PIN. Select the Update contact details option for modifying or adding the ID& mobile number and update the details. Subscriber needs to confirm the changes and on successful updation, an SMS as well as will be sent on updated as well as the old contact details. What is the process of generating I- Pin? The following are the various steps in generation of I-Pin, What are the benefits of registering /mobile number in PRAN? 20. How many Autonomous Bodies are registered under NPS? Access CRA website and select option Resetting of I-PIN on homepage (under value added services) to reset the I-PIN. Enter mandatory details to regenerate the instant I-PIN through One Time Password (OTP) sent on registered mobile number. In case mobile number is not registered, reset the I-PIN by providing the request online and getting the request authorized by Nodal Office The following are the various benefits, SMS/ Alert on PRAN generation. SMS/ Alerts on Transactions in PRAN/Fund Value. Intimation on changes in Subscriber details like Nomination, Address, Bank details, etc. Request of Transaction Statement on through CRA helpline. Receipt of periodical PFRDA Newsletter From Central and State Governments 498 and 513 entities are registered as on respectively.

5

6

7

8

9 Letter of Consent: To be provided on the official letterhead of the State Autonomous Body (SAB) File No. Dated:. To, Pension Fund and Regulatory Development Authority 1 st Floor, ICADR Building Plot No.6, Vasant Kunj Institutional Area, Phase II New Delhi: Sub: Operationalisation of the National Pension System (NPS) Sir, With reference to the above, we hereby undertake to ensure that our employees recruited on or after (date of adoption of NPS) would be brought over to the NPS Architecture, and that we shall be governed by all the directions and scheme of things as envisaged by the PFRDA under the NPS Architecture, from time to time. We shall be shifting to the NPS architecture as operationalised by PFRDA. We shall comply with and honour all the requirements in regard to the various arrangements made by PFRDA/NPS Trust with all the NPS intermediaries including the CRA. We shall abide by the terms and conditions of the agreement executed by the State of (name of concerned State Government) and the NPS Trust as well as NSDL. The appointment of NSDL as CRA for NPS shall be co-terminus with the agreement the State of (name of concerned State Government) had with NPS Trust as well as NSDL, as extended from time to time. We agree for the investment pattern and scheme preference options adopted by the State of (name of concerned State Government). We agree for the direct billing by CRA, as already provided for in PFRDA s existing contract with CRA, as also by other NPS intermediaries under the NPS Architecture and to be bound by the entire framework of NPS architecture, from time to time. We understand that the process flow in respect of our organization would be identical to those presently followed by State Government, and that NSDL would engage in dialogue with us for determining whether they would like to upload data centrally or through multiple points. Yours faithfully, Sd/- Authorised Signatory of the State Autonomous Body CC To- 1. NSDL 2. NPS Trust 3. Head of the concerned Department 4. Nodal officer designated by the State Government for NPS

10 ~ ~ ~------==-.' -. t No"1(13)/~V/2001 Covernment of India Ministry of Finance Department of Expenditure ** **-J: OFFICE l\femorandulvl Ne,v Delhi, the 13 u1 November Subject: Applicability of New Pension Scheme to the employees of Autonomous Bodies/PSVs under various Central Ministries/Departments. ThE undersigned is directed to say that the Government have decided to introduce a New Pension Scheme based on defined contributions for new entrants recruited in Central Go vernment service on or after The existing pension scheme will not, therefore, t e applicable to such employees. 2. A B esolution has already been issued vide letter No.S(7)/2003-ECB & PR, on io" October, 2 )03 to operationalise the decision of the Government to introduce a new pension scl Ierne based on defined contributions. An interim Pension Fund Regulatory And Develc pment Authority (PFRDA) is also being constituted. 3. In I ne with this decision, it has been further decided that new entrants in all Autonornoi s Bodies under various Central Ministries/Departments recruited on or after v.ill also be governed by the new scheme and not by the existing pension scheme in tjlese organizations. 4. It i: accordingly requested that all Autonomous BodieslPSUs under the administrati Ie control of your Ministry/Department may be suitably informed so that they can take up the matter with Department of Economic Affairs (ECJ3 & Pension Reforms Di.rision) who are administratively concerned with formulation, processing and operationali.ation of the new pension scheme, for detailed information in this regard. To All ~.ecretaries... '.:.Y"-"{_.",:--- y.,"- ( Sushama Nath ) Joint Secretary (Personnel) d f~

11 v, O.M.No.1(13)/EV/2001 Government of India Ministry of Finance Department of Expenditure ********* New Delhi, the 15 th March, 2004 OFFICE MEMORANDUM Subject: Applicability of new pension scheme to the employees of autonomous bodieslpsus under the administrative control of different Central Ministries/Departments. The undersigned is directed to refer to this Department's OM No. I(l3)/EV/2001, dated 13 th November, 2003, on the subject mentioned above. Over the past few months, this Department has been receiving letters directly from autonomous institutionslpsus seeking clarifications regarding the date of implementation of the new pension scheme and its applicability to the new entrants joining autonomous bodieslpsus. The desired clarifications have been considered in consultation with Department of Economic Affairs, Ministry of Finance and Department of Pension & Pensioners' Welfare. It is clarified that irrespective of any factor, the applicability of existing pension scheme or new pension scheme to the new entrants will be determined solely with reference to the date oftheir joining. Accordingly, all persons joining any autonomous body/psu under the administrative control of different Ministries/Departments on or after will compulsorily be covered by the new pension scheme with the GPF-cum-pension scheme being limited to employees who had joined before This will also hold good for all new entrants in the Central Government. /.rj~ (SUSHAMA NATH) Joint Secretary to the Government of India [0 : All FAs of Central Ministries/Departments. (By name)

12 I.- (,. -' '";r,. v; 4 - -:..'1-) Neo 1{B)/ V/2008 2('S1 r60-g, u~d1~ 1..,,~'. ~.. Government of India Ministry' of Finance Department of Expenditure T;" New Delhi, the 22 November, 2008 OFFICE MEMORANDUM Subject: Apolicabilitv of ~W Pension Scheme to the employees of Autonomous Bodies under various Central Ministries/Departments, Reference is invited to this Department's O.M. of even number dated 13 th November wherein it was stipulated that the new entrants in all Autonomous Bodies u.ider various Central Ministries/Departments recruited on or after will also be g<.verned by the New Pension Scheme. 2. The NPS architecture comprising the NPS Trust, the trustee bank, the Pension Fund Managers (PFMs) and the Central Recordkeeping Agency (CRA) has since been operation: lised. The accumulated corpus in respect of Central Government employees (Civil. Rtilways. Posts & Defence Civilians) has already been transferred through -~rus.ee B:.nk to the PFMs. Further, the data transfer to NSDL is nearing completion and.ialine mo. ithly upload and simultaneous data transfer has already commenced. 3,.t is, therefore, requested that in order to ensure that employees in the x.ncnomoi s bodies under the administrative control of your, Ministries/Departmerts, recruited 0'1 or after , are similarly brought over to the NPS architecture, the autonomous bodies may be advised to contact PFRDA for shifting to the NPS architecture operationalized by PFRDAINSDL. 4. 1he exercise of shifting over to the NPS architecture should be completed by 3) SI January, 2009 by all the autonomous bodies. To :)jj.i'v~"l,vtlj\.' f'+-utwv~_ [ Madhulika P. Sukul] Joint Secretary (Pers.) Ail Secretar ies Copy to: 1. AH Financial Advisers (As per standard list). /2. PF.~DA " 3. NS.)L '\ i '}~i:: n~ ~ t '/_,:,_.-.~ \ -.»:\ ;. ":, : I_~ \ I.'L 4. JS( :M), D/o Economic Affairs.._.,:."N ) \ '''''...:..:--''

13 :\' )/[\"":2008 Government of India :'tiinistry of Finance Departm en t of Expenditure Subject:.-\pplil2abilit~ of \'e:\,\ Pension Scheme to the employees or' Autcr.omous Bodies under various Central vlinistries. Departments. This is in continuation of this Department's 0.\1. of even number dared zs" Nc vernber, 2008 wherein it was requested that in order to ensure that employe-es in the autonomous bodies under the adrninistrativ e control of your Ministri es/departrnents, recruited on or after are brought over [Q [he :\PS architec ure. the autonomous bodies may be advised to contact PFRD.-\ for shifting to the, )S architecture operationalized by PFRD.-\. :';SDL. ) To take the above process further. the PFRD.-\ has devised J forma! Letter ( f Consent' which is required to be submitted by the: Central Autonomous 30dies indicating their formal commitment towards discharging their obligations.nder th : -PS. The format of the said' Letter of Consent' is being enclosed with lis 0..\ 1. The' Letter of Consent may be circulated to all the Central.utonoruous Bodies under the administrative control of your Iinistrie s/departrnents for forwarding the same to PFRD.-\ through the Financial Advisers of the respecti ve Ministries. Departments. Encl: As above. ~ I '1anoj Sahay] Director.J ::::-1 ~- - '" L r' -' -:. ~.. " '-' v 1. AH Financial Advisers (As per standard list). Copy to;? 2....,.:J. ipfrda ~ ldil JT {CV[), Dio Economic Affairs

14 National Pension System (NPS) Subscriber Shifting (Please fill all the details in CAPITAL LETTERS & in BLACK INK only. All fields / sections marked in * are mandatory.) (Please tick the respective block which is applicable to you) Form-ISS-1 A. General Information: I) NAME * II) PRAN (Permanent Retirement Account Number) * III) Existing PRAN association (refer Instruction no. I) a) Sector: * Central Government State Government All Citizens of India (UOS) Corporate Sector b) DDO / CBO / POP-SP Reg. No: * c) DDO / CBO / POP-SP Name: * IV) Target PRAN association (refer Instruction no. II) a) Sector:* Central Government State Government All Citizens of India (UOS) Corporate Sector b) DDO / CBO / POP-SP Reg No: * c) DDO / CBO / POP-SP Name: * B. Additional information for subscribers shifting to All Citizens of India - UOS V. Subscriber Scheme Preference a) PFM (Name in alphabetical order) Please tick only one 1 DSP BlackRock Pension Fund Managers Private Limited 5 LIC Pension Fund Limited 2 HDFC Pension Management Company Limited 6 Reliance Capital Pension Fund Limited 3 ICICI Pension Fund Management Company Limited 7 SBI Pension Funds Private Limited 4 Kotak Mahindra Pension Fund Limited 8 UTI Retirement Solutions Limited (Selection of PFM is mandatory both in Active and Auto Choice. In case you do not indicate a choice of PFM, your application form shall be summarily rejected). b) Investment Option (refer Instruction no. VI & VII) Active Choice Auto Choice (For details on Auto Choice, please refer to the Offer Document) Note:- 1. In case you do not indicate any investment option, your funds will be invested in Auto Choice 2. In case you have opted for Auto Choice, DO NOT fill up section (V.c) below relating to Asset Allocation. In case you do, the Asset Allocation instructions will be ignored and investment will be made as per Auto Choice. c) Asset Allocation table (to be filled up only in case you have selected the Active Choice investment option) Asset Class % share E (Cannot exceed 50%) C G Total 100% Note:- The allocation across E, C and G asset classes must equal 100%. In case, the allocation is left blank and/or does not equal 100%, the application shall be rejected by the POP. VI. KYC details (Applicable only if subscriber is shifting from Government Sector) (Refer instruction no. X) a) KYC document accepted for identify proof : b) KYC document accepted for address proof : c) Document accepted for Date of birth proof : C. Additional information for subscribers shifting to Central Government or State Government (to be filled by target DDO) (Please refer to instruction No. VIII & IX) VII. Subscribers Employment Details to be filled and attested by DDO (All Details are Mandatory) a) Date of Joining: b) Date of Retirement: D D M M Y Y Y Y D D M M Y Y Y Y c) Group of the Employee A B C D Page 1 of 4

15 d) Office e) Department f) Ministry g) Basic Salary h) Pay Scale Certified that the above declaration has been signed / thumb impressed before me by after he / she has read the entries / entries have been read over to him / her by me and got confirmed by him / her. Also certified that the date of birth and employment details is as per employee records available with the Department. Signature of the Authorised Person. Designation of the Authorised Person Rubber Stamp of the DDO Date : Name of the DDO Department / Ministry VIII. Subscriber's Bank Details* (The subscribe shall provide a cancelled cheque, the details of which should match the bank details provided) a) Bank A/c Number b) Bank Name c) Bank Branch d) Bank Address e) Pin Code f) Bank MICR Code g) IFS code (Wherever applicable) D. Additional information for subscribers shifting to Corporate Sector (to be verified by the Corporate Office of the subscriber concerned) IX. Subscribers Employment and PAN Details a) Date of Joining* : b) Date of Retirement* : D D M M Y Y Y Y D D M M Y Y Y Y c) Employee ID* d) CHO Reg No*: e) PAN : Certified that the above declaration has been signed before me by after he / she has read the entries / entries have been read over to him / her by me and got confirmed by him / her. Also certified that the date of birth and employment details is as per employee records available with the Corporate. Signature of the Authorised Person. Designation of the Authorised Person Rubber Stamp of the Corporate Rubber Stamp of the Corporate X. Subscriber's Bank Details (The subscribe shall provide a cancelled cheque, the details of which should match the bank details provided) a) Bank A/c Number b) Bank Name c) Bank Branch d) Bank Address e) Pin Code f) Bank MICR Code g) IFS code (Wherever applicable) Page 2 of 4

16 XI. Subscriber Scheme Preference (Applicable only if the target Corporate has given the option of selecting scheme preference to the associated employees) a) PFM (Name in alphabetical order) Please tick only one 1 DSP BlackRock Pension Fund Managers Private Limited 5 LIC Pension Fund Limited 2 HDFC Pension Management Company Limited 6 Reliance Capital Pension Fund Limited 3 ICICI Pension Fund Management Company Limited 7 SBI Pension Funds Private Limited 4 Kotak Mahindra Pension Fund Limited 8 UTI Retirement Solutions Limited (Selection of PFM is mandatory both in Active and Auto Choice. In case you do not indicate a choice of PFM, your application form shall be summarily rejected). b) Investment Option (refer Instruction no. VI & VII) Active Choice Auto Choice (For details on Auto Choice, please refer to the Offer Document) Note:- 1. In case you do not indicate any investment option, your funds will be invested in Auto Choice 2. In case you have opted for Auto Choice, DO NOT fill up section (V.c) below relating to Asset Allocation. In case you do, the Asset Allocation instructions will be ignored and investment will be made as per Auto Choice. c) Asset Allocation table (to be filled up only in case you have selected the Active Choice investment option) Asset Class E C G Total % share 100% Note:- The allocation across E, C and G asset classes must equal 100%. In case, the allocation is left blank and/or does not equal 100%, the application shall be rejected by the POP. XII. KYC details (Applicable only if subscriber is shifting from State / Central Government Sector) (Refer instruction no. X) a) KYC document accepted for identify proof : b) KYC document accepted for address proof : c) Document accepted for Date of birth proof : Declaration (Applies to subscribers across all sectors): I agree to be bound by the terms and conditions for the target sector (in which my PRAN will belong after processing of this Intersector Shifting request) and understand that CRA may, as approved by PFRDA, amend any of the services completely or partially without any new Declaration / Undertaking being signed. Further, I agree to pay all the necessary charges, as applicable, of the target sector. Date Signature/Left Thumb impression of Subscriber* For Officie use only (To be filled up by the officer accepting the form) Received by: Received at: Details verified by: PAO/POP SP Registration Number: Date: Time Stamp: Date: Time stamp: Receipt Number Issued by the receiving office (only for POP-SP) XXXXXXXXXXXXXXXXXXXXXXXX Page 3 of 4

17 Instructions for filling the form I. Details of the DDO / POP-SP with which the PRAN is currently associated. II. Details of the DDO / POP-SP with which the PRAN will be associated. III. Please quote the correct PRAN and attach a copy of the PRAN Card IV. This form is to be used by the subscriber only V. Sector for 'Existing PRAN association' and 'Target PRAN association' can be the same only if a subscriber is shifting from one State Governemnt to another State Government VI. Active choice - Under Active choice, subscribers have an option to choose a fund manager and provide the ratio in which his / her funds are to be invested among asset classes. a. PFM selection is mandatory. The form shall be rejected if a PFM is not opted for. b. Allocation under Equity (E) cannot exceed 50% c. A subscriber opting for active choice may select the available asset classes ( E, G, & C ). However, the sum of percentage allocation across all the selected asset classes must equal 100. If the sum of percentage allocations is not equal to 100%, or the asset allocation table is left blank, the application shall be rejected. VII. Auto choice - Under Auto choice investment will be made in a lifecycle fund in the schemes of PFM chosen by Subscriber. A subscriber opting for Auto Choice must also select a PFM. The application shall be rejected if the subscriber does not indicate his/her choice of PFM. In case both investment option and the asset allocation table are left blank, the subscriber s funds will be invested as per Auto Choice For more details on investment options and asset classes, please refer to the Offer Document.. VIII. Employment details are to be captured in CRA system by the target PAO/DTO along with other details, if the subscriber is shiifting from UOS to Central / State Governemnt sector IX. PAO/DTO have to modify the employment details of the subscriber after the shifting of the PRAN, in case of subscriber shifting from Central Government to State Government or vice versa or across two State Governments, i.e, both existing and new PRAN association are Government Sectors X. Illustrative list of documents acceptable as proof of identity and address No. Proof of Identity (Copy of any one) No. Proof of Address (Copy of any one) i) School Leaving Certificate i) Electricity bill^ ii) Matriculation Certificate ii) Telephone bill^ iii) Degree of Recognized Educational Institution iii) Depository Account Statement^ iv) Depository Account Statement iv) Credit Card Statement^ v) Bank Account Statement / Passbook v) Bank Account Statement / Passbook^ vi) Credit Card vi) Employer Certificate^ vii) Water Bill vii) Rent Receipt^ viii) Ration Card viii) Ration Card ix) Property Tax Assessment Order ix) Property Tax Assessment Order x) Passport x) Passport xi) Voter's Identity Card xi) Voter's Identity Card xii) Driving License xii) Driving License xiii) PAN Card Certificate of address signed by a Member of Parliament or Member of Legislative Assembly or Certificate of identity signed by a Member of xiii) Municipal Councillor or a Gazetted Officer. xiv) Parliament or Member of Legislative Assembly or Municipal Councillor or a Gazetted Officer. Note: 1) Proof of Address mentioned in Sr. No. i) to vii) (^) should not be more than six months old on the date of application. 2) You are required to bring original documents & two self-attested photocopies (Originals will be returned over-thecounter after verification) Page 4 of 4

18 Steps to be followed by the Central Autonomous Bodies (CAB) for operationalisation of National Pension System (NPS) Introduction: The Pension Fund Regulatory and Development Authority (PFRDA) has appointed NSDL as the Central Recordkeeping Agency (CRA). The NPS architecture includes CRA, Pension Fund Managers, Trustee Bank, Annuity Service Providers and nodal offices (who act as interacting points on behalf of subscribers). CRA acts as an operational interfacing entity in the NPS architecture. The main functions of CRA are record keeping, accounting and administration and customer services for subscribers who have joined CRA. Following are the measures/steps to be taken by CAB for availing the services of CRA and to operationalise the National Pension System (NPS) NPS Architecture PFRDA Pr.AO NPS Trust Fund Flow Trustee Bank Custodian PAO DDO N P S C A N CRA (NSDL) NAV PFM (SBI) PFM (UTI) PFM (LIC) Subscriber Over Internet Annuity Providers Information Flow Funds Flow 1. Submission of consent letter: CAB is required to submit the duly authorised Letter of Consent approved by Government of India (Ministry of Finance, Department of Expenditure) issued vide Office Memorandum (No.1(13)EV/2008) dated January 30, 2009 to PFRDA with a copy to Central Recordkeeping Agency (CRA), NPS Trust, Department of Economic Affairs & Department of Expenditure. Format of the consent letter can be downloaded from our website 2. Appointment of Designated office to interface with CRA: CAB shall appoint a designated office as a Single point contact to interface with CRA for all the issues relating to operationalisation of NPS architecture. 3. Submission of Master Creation Form (MCF): CAB shall submit duly filled in MCF to CRA at the time of joining. Form can be downloaded from the aforesaid website. 4. Registration of administrative offices: CAB shall identify the offices which shall be functioning as Page 1 of 3

19 Principal Accounts Office (Pr.AO) i.e, the office to function as oversight mechanism Pay and Accounts Office (PAO) i.e, the administrative office to perform the day to day activities on behalf of the subscribers Drawing and Disbursing Offices (DDO) i.e the administrative office responsible for collection and forwarding of Subscriber details like registration, maintenance, contribution etc. All these offices shall be registered on the basis of submission of physical application forms to CRA i.e. Form N1 for Pr.AO, Form N2 for PAO and Form N3 for DDO (forms can be downloaded from our website Bodies). 5. Model of contribution upload: CAB shall intimate CRA about the model of data and fund flow to be adopted i.e. Decentralised or Centralised. Decentralised: This mode of upload is generally adopted if there are multiple locations/cities in the CAB and Subscribers Contribution (SC) details will be uploaded from all the multiple locations and funds will be transferred from these multiple locations to the Trustee Bank. Centralised: This model is generally adopted if there is a single designated location/city in a CAB and SC details will be uploaded to CRA and funds will be transferred to Trustee Bank from a centralised point. CAB is required to decide on the model of data flow they intend to adopt and can develop the necessary procedures with the help of CRA. CAB shall intimate this at the time of joining CRA. 6. Registration of Subscribers: The employees of CAB covered under NPS shall be registered on the basis of submission of physical application forms (Form S1) to the CRA/CRA-Facilitation Centers (FC). For more details regarding the process of registration of the nodal offices and the functions these offices will be performing in the CRA system and registration of Subscribers, refer to the Standard Operating Procedures (SOP) for registration of nodal offices and subscribers available on our aforesaid website under the menu Organised Sector Central Government - Standard Operating Procedure for Nodal Offices. 7. Upload of monthly contributions: Once the subscribers are registered, CAB shall commence upload of the monthly SC in the CRA system as per the model selected. For more details regarding the process of upload of SC details, refer to the SOP for contribution upload as well as the self running demo (contribution upload) in our website. 8. Transfer of legacy data: The reconciled legacy data [SC pertaining to the period commencing from January 01, 2004 till the commencement of regular upload (as mentioned in point no.7)] shall be uploaded as Arrears in the CRA system as part of the first or subsequent upload of contribution files. 9. Transfer of funds: After successful upload of the SC details (regular or legacy data) in the CRA system, CAB shall remit the corresponding amount to the Trustee Bank (TB) in favour of the NPS Trust Account along with the details of the uploading offices Registration number allotted by CRA as well as the Transaction id of the SC details uploaded to CRA. For details refer the SOP for Contribution upload and Frequently Asked Questions available in our website. 10. Infrastructure requirement: CAB shall ensure that the administrative offices have the required infrastructure and are technically equipped to handle the functions with respect to CRA system. The officials handling the functions with respect to the CRA system needs to be adequately trained. For more details with regard to software and hardware requirement refer to the SOP for Subscriber Contribution Upload available in the downloadable section of this website. Page 2 of 3

20 Training will be conducted once a month (on a Saturday) at NSDL premises, Mumbai. The dates of the training programme will be made available in our website. For participation, the Officials have to contact CRA (contact numbers given below) atleast 15 days before the training programme. 11. Billing for CRA charges: As mentioned in the contract agreement executed between PFRDA and CRA, the bill for the CRA charges with regard to the services rendered for the employees of CAB shall be raised against the Chief Executive Officer (CEO) of the CAB. For any queries contact Ms. Kamalam V at or Mr. Rahul Goyal at ************************************* Page 3 of 3