RBE No. 138/2008: New Pension Scheme – Subscription

No.2008/DFA/VI-CPC, dated 01.10.2008

S.No.PC-VI/25

Sub: Deduction of subscription at enhanced rates of SRPF/ New Pension Scheme from arrears accruing on account of implementation of the recommendations of the VI Central Pay Commission.

1.     With reference to Para 3(v) of Board’s letter No.PC-VI/2008/I/RSRP/1, dated 11.9.2008 ( RBE No. 108/2008), it is clarified that only forty percent of difference of total subscription at enhanced rates of SRPF/ NPS and that recovered earlier in pre-revised pay scales has to be deducted from the first installment of arrears payable (i.e.,40%). Further, balance SRPF/ NPS recoveries at enhanced rates be made at the time of payment of remaining sixty percent of payable arrears in next financial year.

2.     It has also been decided in relaxation of provisions of Rules 905(2), 908 and 909 of SRPF Rules as contained in IREC Vol.I (1985 Ed.) that;

(i)    In case a subscriber’s PF plus voluntary PF as already recovered is more than PF due to be deducted on revised pay, there is no need to further deduct PF from the arrears. This should be done at the discretion of the subscriber.

(ii)    If a subscriber desires to deposit the whole or part of his arrears in his/her Provident Fund Account, he/she may be allowed to do so.

3.     Para 2 has the sanction of the President and this letter issues with the concurrence of the Finance Directorate.

4.     Please acknowledge receipt.

5.     Hindi version will follow.

Download Railway Board Circular RBE No.138/2008

Forward reference ⇒ RBE No.