Para 11 — NPS

11. Thus, NPS, the Contributory Pension Scheme, is mandatory to all employees joining services of Central Government (except Armed Forces) and Central Autonomous Bodies on or after 1st January 2004 (Authority : FR : 16). It replaced the existing system of Defined Benefit Pension with effect from January 01, 2004. Contributions are made by “Subscriber” and by the “Employer and Deposited into individual pension account (PRAN) of the employee.

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