(a) This scheme will be applicable to all citizens in the unorganised sector.
(b) Under the sche, Government will contribute Rs 1000 per year to each NPS account opened in the year 2010-11 for the next three years. that is 2011-12, 2012-13 and 2013-14. The benefit will be available only to persons who join the NPS with minimum contribution of Rs 1,000 and maximum contribution of Rs 12,000 per annum.
(c) A person will be deemed to belong to unorganised sector, if that person :-
- is not a regular employment of the Central or State government, on autonomous body/public sector undertaking of the Central or State government having employer assisted retirement benefit scheme, or
- is not covered by a social security scheme under any of the following laws:-
(ii) The Coal Mines Providen Fund and Miscellaneous Provision Act, 1948.
(iii) The Seamen's Provident fund Act, 1966
(iv) The Assam Tea Plantions Provident Fund and Pension Fund Scheme Act, 1955
(v) The Jammu and Kashmir Employees' Provident Fund Act, 1961.
Eligibility:
The schem will be applicable to all persons in the unorganised sector subject to the condition that the benefit of Central Government contribution will be available only to those persons contribution of NPS is minimum Rs 1000 and Maximum Rs 12000 per annum, for both Tier I and II taken together, provided that the person makes a minumum contribution of Rs 1000 per annum to his Tier I NPS Account.
As a special case and in recognition of their faith in the NPS, all NPS accounts opened in 2009-10 will be entitled to the benefit of Government contribution under this scheme as if they were opened as new accounts in 2010-11 subject to the condition that they fulfill all the eligibility creteria prescribed under these guidelines.
Click here to view Ministry of Finance OM dated 22.6.2010
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