The monthly contribution would be 10 percent of the Basic Pay plus Dearness Allowance (DA) to be paid by the employee and 14 percent of the Basic Pay plus DA by the Central Government

MINISTRY OF FINANCE
(Department of Financial Services)

NOTIFICATION

New Delhi, the 31st January, 2019

F. No. 1/3/2016-PR – In partial modification of para 1(i) of Ministry of Finance’s Gazette Notification No. 5/7/2003-ECB-PR dated 22nd December, 2003, based on the Government’s decision on 6th December, 2018 on the recommendations of a Committee set up to suggest measures for streamlining the implementation of National Pension System (NPS), the Central Government makes the following amendments in the said notification, namely :-

(1) In para 1(i) of the said notification, for the words “The monthly contribution would be 10 percent of the salary and DA to be paid by the employee and matched by the Central Government”, the words “The monthly contribution would be 10 percent of the Basic Pay plus Dearness Allowance (DA) to be paid by the employee and 14 percent of the Basic Pay plus DA by the Central Government” shall be substituted.

(2) The following provisions shall be inserted after para 1(v) of the said notification, namely:-

CHOICE OF PENSION FUND AND INVESTMENT PATTERN IN TIER-I OF NPS AS UNDER:

(vi) Choice of Pension Fund: As in the case of subscribers in the private sector, the Government subscribers may also be allowed to choose any one of the pension funds including Private sector pension funds. They could change their option once in a year. However, the current provision of combination of the Public-Sector Pension Funds will be available as the default option for both existing as well as new Government subscribers.

(vii) Choice of Investment pattern: The following options for investment choices may be offered to Government employees :

• The existing scheme in which funds are allocated by the PFRDA among the three Public Sector Undertaking fund managers based on their past performance in accordance with the guidelines of PFRDA for Government employees may continue as default scheme for both existing and new subscribers.
• Government employees who prefer a fixed return with minimum amount of risk may be given an option to invest 100% of the funds in Government securities (Scheme G).
• Government employees who prefer higher returns may be given the options of the following two Life Cycle based schemes.

(A) Conservative Life Cycle Fund with maximum exposure to equity capped at 25% – LC-25.

(B) Moderate Life Cycle Fund with maximum exposure to equity capped at 50% – LC-50.

(viii) Implementation of choices to the legacy corpus: Transfer of a huge legacy corpus of more than Rs. 1 lakh crore in respect of the Government sector subscribers from the existing Pension Fund Managers is likely to impact the market. It may be practically difficult for the PFRDA to allow Government subscribers to change the Pension Funds or investment pattern in respect of the accumulated corpus, in one go. Therefore, for the present, change in the Pension Funds or investment pattern may be allowed in respect of incremental flows only.

(ix) Transfer of legacy corpus in a reasonable time frame: PFRDA may draw up a scheme for transfer of accumulated corpus as per new choices of Government subscribers in a reasonable time frame of say five years. Once PFRDA draws up this scheme, change in the Pension Funds or investment pattern may be allowed in respect of the accumulated corpus in accordance with that scheme.

4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I-SEC. 1] COMPENSATION FOR NON-DEPOSIT OR DELAYED DEPOSIT OF CONTRIBUTIONS DURING 2004-2012:

(x) In all cases, where the NPS contributions were deducted from the salary of the Government employee but the amount was not remitted to CRA system or was remitted late, the amount may be credited to the NPS account of the employee along with interest for the period from the date on which
the deductions were made till the date the amount was credited to the NPS account of the employee, as per the rates applicable to GPF from time to time, compounded annually.

(xi) In all cases where the NPS contributions were not deducted from the salary of the Government employee for any period during 2004-2012, the employee may be given an option to deposit the amount of employee contribution now. In case he opts to deposit the contributions now, the amount may be deposited in one lump sum or in monthly installments. The amount of installment may be deducted from the salary of the Government employee and deposited in his NPS account. The same may qualify for tax concessions under the Income Tax Act as applicable to the mandatory contributions of the employee.

(xii) In all cases where the Government contributions were not remitted to CRA system or were remitted late (irrespective whether the employee contributions were deducted or not), the amount of Government contributions may be credited to the NPS account of the employee along with interest for the period from the date on which the Government contributions were due till the date the amount is actually credited to the NPS account of the employee, as per the rates applicable to GPF from time to time. Instructions to this effect may be issued by the Department of Expenditure/ Controller General of Accounts. All such cases of delay may be resolved within a period of three months.

The above provisions shall come into force with effect from 1st April, 2019.

MADNESH KUMAR MISHRA, Jt. Secy.

Note : The main notification was published in the Gazette of India, Extraordinary, Part-I, Section 1, vide notification No. 5/7/2003-PR dated the 22nd December, 2003

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Finance Ministry to notify 7th Pay Commission soon…

There should not be any doubt that salary for the month of July onward will be based on 7th CPC recommendations approved by the government on 29th June, 2016 with only change that, all the allowances, as admissible at present, will continue till report of various committees set up for different purposes are finalized. Gazette Notification for the same is expected today or early next week.

AIRF
All India Railwaymen’s Federation

No.AIRF/405(VII CPC)

Dated: July 8, 2016

The General Secretaries,
All Affiliated Unions,

Dear Comrades,

Unwanted queries are being pouring in this office; regarding payment of 7th CPC based salaries from current month or otherwise.

There should not be any doubt that salary for the month of July onward will be based on 7th CPC recommendations approved by the government on 29th June, 2016 with only change that, all the allowances, as admissible at present, will continue till report of various committees set up for different purposes are finalized. Gazette Notification for the same is expected today or early next week.

Please disseminate this information down the line, so that direct queries from AIRF Office should stop.

Source : www.airfindia.com

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No clarity in the Press Statements of both Government and NJCA on 7th CPC issues

The six days Drama was come to an end yesterday. After the Union Cabinet Approved the implementation of 7th CPC Recommendations on 29th June 2016, a Meeting of NJCA leaders held on the next day on 30th June 2016. After the NJCA Meeting, some Leaders met the Group of Ministers at Home Minister’s Residence. It is said to be an informal meeting, so no any official announcement was made by Govt regarding this Meeting. But NJCA leaders told that GOM assured that they would refer this issue to a committee to review.

The same day, SRMU has declared that the Indefinite Strike is postponed based on the Govt assurance. From that day onwards there was lot of drama going on day to day over the issues of 7th CPC and Indefinite Strike

As per schedule the NJCA Leaders met on 6th July 2016 to decide on future course of Action. But the meeting was ended with a decision to postpone the Strike Action.

Finally, the Six Days confusion come to an end on 6th July after NJCA and Ministry of Finance issued Press Statements.

But Still there is no Clarity in these press statements on the following issues.

1. When will Notification for implementation of 7th CPC recommendations be published?

2. When will the CG Employees get 7th CPC salary.?

3. Why all allowances including HRA and TA referred to committee?

4. When will the revised rate of HRA and TA come into effect?

5. Does the NJCA really believe the proposed committee will recommend to increase Minimum Pay and Fitment Factor…?

6. If they believe so, why didn’t they say anything about the date on which the 7th CPC come into force…?

7. If 7th CPC comes into force from this Month, Does the NJCA believe the Minimum Pay and Fitment factor will be increased after four months?

8. Do the Govt and NJCA assure No Committee will be formed after four months…?

The NJCA has to clarify all these doubts to Central Government employees. If you have any other doubts, please comment.

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Ministry of Law & Justice

29-October, 2015

It had been decided to switch to exclusive e-publishing of all Gazette Notifications of Government of India with effect from 1st October, 2015. It has been decided that the physical printing and sale of hard copies of Gazette by the Government shall completely cease. This measure is in line with provisions of Section 8 of the Information Technology Act, 2000.

The Gazette of India will now be only e-published by uploading on the official website www.egazette.nic.in

The users may download the e-gazette so published from above mentioned Official website free of charge.

The Department of Publication under the Ministry of Urban Development shall continue to maintain the record of such notifications and make them available for reference, whenever required.

PIB

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