GN Bureau | December 21, 2015
Attempts by the pension fund regulatory and development authority (PFRDA) to bring employees of public sector undertakings under the National Pension System (NPS) has hit a “tax hurdle”.
There is no tangible movement in this direction, as any such migration could lead to levy of income tax on the employee, Hemant Contractor, Chairman, PFRDA has said.
Contractor said the PFRDA is in talks with the government to sort out the tax issue so that PSU employees can also opt for the NPS. The NPS is a defined contribution scheme that became operational from January 1, 2004, wherein the final corpus depends upon the contribution made by the subscribers and the investment returns.
From January 1, 2004, NPS was applicable to all new Central Government employees, except the Armed Forces. With effect from May 1, 2009, NPS was made available to all Indian citizens on voluntary basis. In December 2011, the PFRDA introduced a corporate sector model to provide NPS to employees of corporate entities of private and public sector enterprises. However, public sector employees have not boarded the NPS train due to several reasons, the main one being tax.
In an interview with Governance Now, Anil Kumar Jha, special DGP, CID, Assam, who is also nodal officer for the CCTNS project, speaks of what the system in its present form has helped his state achieve. What is the current status of CCTNS in Assam and its outcome?
A stand-off between the ministry of home affairs (MHA) and software development firm Wipro seems to have long held up the Rs 2,000 crore crime and criminal tracking network and systems (CCTNS) project, conceptualised ten years ago. The project aims to digitise and connect all police stations in the country
Questioning the development model pushed ahead for profit oriented growth, social and political activists, academicians, financial analysts and civil society organisations are holding a three day confluence of Peoples’ Convention on Infrastructure Financing in Mumbai. &nb
About one-fourth of India’s elderly face abuse at the hands of those they trust the most – the son (52%) followed by the daughter in law (34%),spouse/partner (14%), daughter(6%) grandchild (6%), son in law(3%), parent(1%) and care giver(1%), reveals a report by the HelpAge Ind
The official statistics provided by the department of industrial policy and promotion (DIPP) under the ministry of commerce and industry shows that between January 2000 and December 2017, India received $368 billion of foreign direct investment (FDI). It also says that Mauritius was the source of $125 bill
The declaration communicated through the director general of military operations (DGMO) of Pakistan and India on May 29, 2018, to implement the ceasefire agreement of 2003 between the two countries in “letter and spirit” has opened up an opportunity to restore peace in the disturbed Kashm