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NPS- Not contributed properly by Government

While Government has implemented strict laws against private sector employers who fail to contribute for the employees in the provident fund, it is alleged by a panel report headed by Chief of SEBI Mr.G.N.Bajpai that Government itself is not contributing fully for its all newly recruited employees.

In other words, Government might have left some of the employees who have joined Government Service after 1.1.2004, from the New Pension Scheme and thereby not contributing 10% of their salary as an employer.

The report is more concerned about Government employees whose contributions remain un-ivested. The report further says that the number of Government employees kept out of NPS could be growing steadily every year which will become a threat in the future as it would become a financial trouble for the Government.

As of now 12 lakh Government employees have been included in New Pension System, which according to report did not match with the recruitment made after 1.1.2004.

 

Source: The Times of India

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