On December 30, 2024, the Government of Maharashtra issued a circular announcing revised procedures for crediting monthly contributions under the National Pension System (NPS) to the PRAN Accounts of state employees.
Key Changes:
Employee Contribution Handling:
- The Drawing and Disbursing Officer (DDO) will now only recover the employee’s contribution (10% of Basic Pay, Dearness Pay, and Dearness Allowance), excluding the employer’s contribution.
Salary Submission Deadline:
- Salary payments for NPS participants, including All India Service officers, must now be submitted separately by the 22nd of each month.
Categorization and Deposit of Contributions:
- The employee contribution will be categorized and deposited as per the relevant scheme code.
- The DDO will also provide the necessary schedule with the payment details to ensure smooth processing.
Conclusion:
These revised procedures aim to streamline the process of crediting NPS contributions, ensuring that the employee contributions are managed efficiently, and submissions are made on time. The changes also emphasize clear categorization and separate submission of salary payments for NPS participants.
