The matter of providing information from CPF to GPF

The matter of providing information from CPF to GPF, Ministry of Human Resource Development, Department of School Education and Literacy, letter no. 5-7/98-UT-1 dated 14 August 2008, Navodaya Vidyalaya Samiti (NAVIS) has notified the New Pension Scheme of Government of India.

The new pension scheme came into effect from 01.04.2009 on all the regular employees of Navis. All regular employees will be appointed from NPS dated 01.04.2009 and onwards.

Though become members, the employees who are appointed in NAVIS on regular basis prior to 01.04.09, were given the option to continue with the existing CPF Scheme or switch over to the New Pension Scheme.

This option was to be given within three months from the date of issue of this notification i.e. on 04.08.2009.

The New Pension Scheme has two tiers, Tier-I and Tier-II. Contribution in Tier-I is mandatory, whereas in Tier-II, it is optional and is at the discretion of the employees. In Tier-I, employees have to contribute 10% of Basic Pay and Dearness Allowance in their pay scale, which is deducted from their pay bills every month for the respective PAOs. The same amount is also deposited by the committee. Withdrawals from Tier-I account are also not allowed.

Subject to the recommendations of the Seventh Pay Commission, the deduction payable under the New Pension Scheme shall be made as per the revised pay scale of the employee from the date on which the employee has opted for the revised pay scale.
Shimla. 80 thousand employees working in government jobs are trapped in the pension scheme. On retirement, 60 percent of the employees will get the money in installments. The retired employee will have to wait for many years for the amount deposited under pension.+

In CPF (Contributory Pension Scheme), the government will give 60 percent of the lifetime earnings in a phased manner. Many screws have been put in the CPF scheme for government employees. Under the scheme, 40 percent monthly pension will be fixed to the retired employee. The government has issued new rules for the CPF scheme. Every month more than Rs 5 crore from the salary of the employees goes to the pension fund.

7 thousand is deducted every month, under this scheme one thousand rupees are deposited in the pension scheme every month from the salary of class IV employee. Due to increase in government job position, 7 thousand rupees are deposited in the scheme from the salary of IAS officer. The CPF scheme provides that the government will also make a contribution equal to the deduction from the salary of each employee. After 2003, the government introduced the CPF scheme for the employees who joined government jobs after 2003.

Under this, it is mandatory to cooperate with the government in deduction from the salary of the employees. Now the system of GPF has been abolished from the salary of the employees. All types of employee schemes under CPF scheme are from class four employees to IAS level officers. From regular employees to contract, part time has also been included in the scheme. Applicable to officers and employees of IAS, IFS, HAS and State Administrative Services working in the Government.