The Pension Fund Regulatory and Development Authority through notification dated 14th June, 2021 has issued the Pension Fund Regulatory and Development Authority (Point of Presence) (Amendment) Regulations, 2021. The amendment provides following provisions for registration of Point of Presence;
- The certificate of registration granted to a point of presence shall remain valid unless suspended or cancelled by the Authority.
- Where a certificate of registration has been granted subject to conditions, the validity of such registration shall be construed as subject to such conditions.
- A point of presence may, within ninety days before the expiry of five years from the date of registration or from the date of payment of renewal fee last accepted by the Authority, make an application in the specified form to the Authority for acceptance of the renewal fee:
- If the application along with renewal fee reaches the Authority, not later than one year from the date due for payment of renewal fee, an additional fee of rupees one thousand per month for such period of delay shall be payable by the applicant to the Authority.
- The renewal fee shall be a sum calculated at the rate of one-half percent of the charges earned out of activities under National Pension System or other pension schemes put together, in the preceding financial year, subject to a minimum of rupees fifteen thousand and a maximum of rupees one lakh.