Compensation for Non or Delayed Deposit of NPS Contribution

Compensation for Non or Delayed Deposit of NPS Contribution under National Pension System (NPS) during 2004-12-CGA Clarification

Compensation for Non or Delayed Deposit of NPS Contribution during 2004-12

No. TA-3-5/2/2021-TA-III /cs 8004/381
Ministry of Finance
Department of Expenditure
Office of Controller General of Accounts
Mahalekha Niyantrak Bhawan
E-Block, GPO Complex, INA,
New Delhi

Dated: 10.11.2022

Office Memorandum

Subject: Compensation for Non-deposit or Delayed Deposit of Contribution under National Pension System (NPS) during 2004-12 — Reg.

Reference is invited to this office OM No. 1(7)/2019/TA-UI/ 12 dated 07/01/2020 regarding implementation of guidelines on the matter of compensation for Non-deposit or delayed deposit of contribution under National Pension System during 2004 to 2012 in pursuance of DoE’s OM No. 1(21)/EV/2018 dated 12th April, 2019 and decision of the Department of Financial Services (DFS), Ministry of Finance, vide their Gazette Notification dated 31.01.2019.

2. In this regard, it is stated that this exercise was to be completed within a period of three months from the date of issue of necessary orders on the matter. However, it has come to the notice that few cases of compensation to the NPS subscribers on account of non-deposit or delayed deposit of contribution of NPS for the period 2004-2012, have not been settled yet.
3. Therefore, all the Pr. CCAs/CCAs/CAs (IC) in the Ministries/Departments are requested to review the cases of compensation of non-deposit or delayed deposit of contribution of NPS subscribers for the period 2004-2012 and ensure that all such cases have been resolved. A report on the number of such cases resolved and pending, if any, may be provided to this office latest by 25.11.2022.

(Parul Gupta)
Dy. Controller General of Accounts