The subscriber who is already having a PRAN need not apply for a fresh PRAN when he / she joins a company which is registered under corporate sector. To update the association of the PRAN with the new corporate, the subscriber needs to submit a ISS-1 form (for shifting from a different sector) or a CS-S3 form (for shifting from a different corporate) to the current employer.
"NPS provides platform for corporate to co-contribute for its subscribers or facilitate them to contribute for their pension. There are three variations of contributions from employer and employee:
There is no requirement for minimum number of employees for adopting NPS.
Adopting NPS will not dilute any statutory requirement for the corporate.
At present, there is no limit on maximum amount of investment in NPS.
Total contribution (employer and/or employee) in Tier I for a financial year should be Rs. 1000
Yes, a corporate can change the associated POP. To change the POP, corporate requires to send a duly filled CHO-3 form to NSDL.
Yes, a corporate can change the scheme preference once in a financial year. To change the scheme preference, corporate requires to send a duly filled CHO-2 form to NSDL.
Yes, a subscriber can make voluntary contribution through the associated Point of Presence (POP) of the corporate (i.e., the POP selected by the corporate for operationalisation of NPS).
The corporate subscriber can open Tier II account along with Tier I account by submitting composite application form (CS-S1). Further, a subscriber with an active Tier I account can also activate the Tier II account by submitting UOS-S10 form to the associated POP. After activation, the subscriber can contribute in his/her Tier II account through any of the registered POP-SP across India.
Ombudsman is a person appointed by Pension Fund Regulatory and Development Authority (PFRDA). PFRDA may appoint one or more Ombudsmen for different territorial jurisdiction.
Ombudsman’s important role is to receive, consider and facilitate resolution of complaints or grievances which fall within the ambit of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 (hereinafter referred as ‘the regulations’).
At present there is only one Ombudsmen appointed by PFRDA. Shri Vinod Kumar Pande is appointed as Ombudsman by PFRDA. The details of the ombudsman are as follows.
Shri Vinod Kumar Pande
C/o Pension Fund Regulatory and Development Authority,
Plot No-14/A, Chhatrapati Shivaji Bhawan, Qutab Instititional Area,
The details of Ombudsman appointed are also available on PFRDA website – www.pfrda.org.in.
An appeal can be filed with the Ombudsman under the regulations -
(a) by a complainant whose grievance has not been resolved within thirty days from the escalation of the grievance to National Pension System Trust
(b) by a complainant, where a complaint has been made directly against the National Pension System Trust and no other intermediary and the same remains unresolved within the specified period of thirty days(a) by a complainant whose grievance has not been resolved within thirty days from the escalation of the grievance to National Pension System Trust
The appeal shall be in writing, duly signed by the complainant or his authorised representative (not being a legal practitioner) in the form as specified the regulations and supported by documents, if any.
The Ombudsman may dismiss an appeal when such appeal is frivolous in his opinion or if the appeal is not adhering to the conditions specified in the regulations.
For more details, PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 can be referred under the menu ‘Regulations’ on PFRDA’s website www.pfrda.org.in