Big change in the lives of people in three years, new doors of livelihood opened: Chief Minister Bhupesh Baghel

Chief Minister Bhupesh Baghel has decided to restore the old pension scheme in Chhattisgarh. To implement this decision, Finance Secretary Smt. Alarmelmangai D. has written a letter to the Chairman, Pension Fund Regulatory and Development Authority (PFRDA), New Delhi. He has said in the letter that the present market value of the total amount (employer and employee joint share) of the state government’s contribution under the new pension scheme is Rs 17,240 crore. This amount should be returned to the Government of Chhattisgarh at the earliest. Finance Secretary Smt. Alarmelmangai D. has apprised the Chairman, Pension Fund Regulatory and Development Authority, New Delhi that the Chhattisgarh Government has recently established a pensionable establishment of the State Government on or after November 1, 2004. It has been decided to restore the old pension scheme from November 1, 2004 in place of the new contributory pension scheme for all the employees appointed in the The state cabinet in its meeting held on May 1, 2022 has approved this decision. Apart from this, a notification has been published in the gazette by the state government for the restoration of the old pension scheme. The monthly contribution of employer and employee to the NPS accounts of the employees has also been stopped with effect from April 1, 2022. The Finance Secretary has also informed in the letter that a new GPF (General Provident Fund) account for each employee registered with NPS Opened by the state government. A minimum of 12 percent of the basic salary will be deducted from the salary of government employees, which will be deposited in the Chhattisgarh General Provident Fund accounts of government employees as per the General Provident Fund rules. NSDL NPS to be received from The present market value of the amount of Government contribution made in the accounts shall be used to meet future pension liabilities and shall be kept in a separate Pension Fund under the Public Account of the State Government. In addition, an amount equal to 4 per cent of the pension liabilities of the previous financial year will be invested by the state government in this pension fund every financial year. The Finance Secretary has also apprised that the principal amount contributed by the employees to their NPS accounts The Chhattisgarh General Provident Fund account of the employees will be transferred and interest will be payable on it under the rules of Chhattisgarh General Provident Fund as per the interest related instructions issued by the State Government from November 01, 2004 from time to time. The difference in the current market value of employee contribution made to NPS and the principal amount contributed by the employees will be used to credit the interest payable in the General Provident Fund accounts of the employees. As per the data available with the Government of Chhattisgarh, the State Government 11,850 crore (Employee and Employer Contribution) has been transferred by NSDL to NSDL during the period from 1st November 2004 to 31st March 2022. According to the information received from NSDL, the current market value of this amount is about Rs.17,240 crore. The Finance Secretary has requested the Pension Fund Regulatory and Development Authority to refund the present market value of the total amount (employer and employee share combined) contributed by the State to NSDL to the Government of Chhattisgarh so that the State Government can initiate the process of transfer of the amount. Can you Like this:Like Loading… Continue Reading