Nps

shekhar sharma (Querist) 17 May 2015 This query is : Resolved
Sir for central govt employees under NPS ,is there any rule/law which instruct to the deptts to deposit NPS contribution to PFRDA with in certain time frame afterwards deptt is liable to pay any interest or compensation?

in practice promotion given with retroespecyive dates and due arrears are given but in altered NPS senario, is govt bound to give interest/ compensation on NPS contribution arrears as not providing and depositing timely NPS contribution can affect signifacantly pension afterwards.

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P. Venu (Expert) 18 May 2015
NPS is not a service regulation and hence is deficient in the rigours of being consistent with the provisions of the Constitution or of Natural Justice.

However, you may represent.

T. Kalaiselvan, Advocate (Expert) 19 May 2015
There is no such ruling that the department has to bear the penalty for delay in remitting the fund to NPS so far, however the liability cannot be shed away for any reason, you may clarify from the department itself.