CONTRIBUTORY PENSION SCHEME (CPS)
Employees (Teachers) who have recruited on or after 01.09.2004 have to come under the New Contributory Pension Scheme. For this, the employees have to deduct 10% of their Basic Pay & D.A towards their contribution and Government will add the same amount to their accounts. D.A arrears and other arrears of these employees will be credited to the C S S (Compulsory Savings Scheme).
Now our State Government has entered into an agreement with N S D L (National Security Depositories Limited), Bombay to maintain PRAN accounts as Central Record Keeping Agendy ( C R A). Now, all the employees coming under the C P S have to apply for P R A N (Permanent Retirement Account Number) alloted & maintained by N S D L, Bombay. For this, N S D L has appointed KARVY Consultants as Facility Centre, and there are two Facility Centres 1. at Hyderabad and 2. at Visakhapatnam.
Here, GOs, Memos, Proceedings and relevant informatin on C P S are provided.