NATIONAL PENSION SYSTEM – Contributory Pension Scheme – Instructions for uploading the CPS subscriptions

By teacherbook - Wednesday, 21 October 2020 - No Comments

NATIONAL PENSION SYSTEM – Contributory Pension Scheme – Instructions for uploading the CPS subscriptions – Issued

They are requested to take necessary action to process it for generation of text files and upload them to the CRA as per the procedures prescribed, positively by Oct 23, 2020. This process contain some arrear data also and therefore, it may take some long time to get the desired output. They shall also take immediate follow-up action to transfer funds as per the orders issued in GO Ms. No. 196, Dated 24/07/2012 of Finance (Pen. I) Department and instructions issued in this office memo 01st cited. Since it is a regular subscription upload, Government contribution shall be adjusted from the HOA: 2071-01-117-00-04-320-321-VN to the HOA: 8342-00-117-11-04-001-002-VN. They should take action to minimize the time gap between SCF upload and funds transfer. The process of drawl of funds and +their transfer should be completed on T*2 basis as already instructed in this office Circular Memo 04th cited.

They are specifically informed that, the validity period of SCF / Trans ID is ten days only. They should transfer the funds within five days. Otherwise the Trans ID gets lapsed.