NPS KARMCHARIO NE NIVRUTI SAMAYE GRADUITY CHUKAVAVA BABAT
National Pension System (NPS) is a contributory pension system whereby contributions from subscribers along with matching contributions from respective governments as an employer, are collected and accumulated in an individual pension account of the employee.
NPS KARMCHARIO NE NIVRUTI SAMAYE GRADUITY CHUKAVAVA BABAT
The Central Government has introduced the Defined Contribution based Pension System known as the National Pension System (NPS) replacing the existing system of Defined Benefit Pension with effect from January 01, 2004 vide its notification Ministry of Finance (Department of Economic Affairs) OM No 5/7/2003 PR Dt 22/12/2003.
PFRDA iS an Authority set up by the Government of India through the PFRDA Act, 2013 to promote old age income security by establishing, regulating and developing pension funds to protect the interest of Subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.
NPS is mandatory to all employees joining services of Central Government (except Armed Forces) and Central Autonomous Bodies on or after 1st January 2004.
Pension Fund Regulatory and Development Authority (PFRDA) is the regulator for NPS.
NPS KARMCHARIO NE NIVRUTI SAMAYE GRADUITY CHUKAVAVA BABAT
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