New Pension Scheme – Accounting treatment of Subscriptions alongwith accrued Interest

New Pension Scheme – Accounting treatment of Subscriptions alongwith accrued Interest

New Pension Scheme – Accounting treatment of Subscriptions alongwith accrued Interest

कार्यालय प्रधानलेखानियंत्रक (फै)
10ए, एस के बोस रोड, कोलकाता-700001
OFFICE OF THE PRINCIPAL CONTROLLER OF ACCOUNTS (FYS)
10-A, S.K. BOSE ROAD, KOLKATA: 700001

No. A/II/246/Sectional/2020-21/Vol -1

Date – 23.11.2020

To

The Officer- in – Charge
All Br. Accounts Office

Subject: Accounting treatment of Subscriptions alongwith accrued Interest (NPS).

Reference: HQrs office letter No. A/I/Review/NPS/C-121 dated 26.10.2020

A clarification issued under HQrs Circular No. A/I/Review/NPS/C-121 dated 26.10.2020 on accounting treatment of the interest portion on the amounts of Employee’s Contribution and Government Contribution in respect of the subscribers governed under New Pension Scheme which has not been transferred or transferred late to NSDL due to any reason is enclosed herewith for guidance and compliance please.

Sr. Accounts Officer (Fys)


कार्यालय रक्षा लेखा महानियंत्रक
Office of the Controller General Of Defence Accounts
उलान बटार मार्ग, पालम, दिल्‍ली छावनी 110010
Ulan Batar Road, Palam, Delhi Cantt.-110010

No.A/I/Review/NPS/C-121

Dated:- 26.10.2020

Circular

To,

The PCA (Fys) Kolkata

Sub: Accounting treatment of Subscriptions along with accrued Interest.

References are being received from various Controller’s offices regarding clarification on accounting treatment of the interest portion on the amounts of Employee’s Contribution and Government Contribution in respect of the subscribers governed under New Pension Scheme which has not been transferred or transferred late to NSDL due to any reason.

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In respect of the above, Department of Expenditure, Ministry of Finance OM No. 1(21)/EV/2018 dated 12.04.2019 may be referred to wherein it has been stated that in all such cases as mentioned above, interest may be credited to the NPS Account of the concerned Government Employee.

As such, it enjoined upon all that the Interest portion on amounts of Employee’s contribution and Government Contribution in respect of the subscribers governed under New Pension Scheme which has not been transferred or transferred late to NSDL, may be booked under relevant code heads under Major Head 2049- Interest Payments, Sub Major Head -93, Minor Head -117 Interest on Defence Contribution Pension Scheme.

This issues with the approval of Sr. Jt. CGDA (A&B).

Sr. Dy. CGDA (A&B)

new-pension-scheme-accounting-treatment-of-subscriptions-alongwith-accrued-interest

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