New Delhi. The National Pension System (NPS) has emerged as a game-changing scheme for India's retirement planning sector, launched on January 1, 2004. Now the central government has issued new guidelines for contributions to the National Pension System (NPS). The Department of Pension and Pensioners, working under the Ministry of Personnel, Public Grievances, and Pensions, has shared an office memorandum dated October 7, 2024, which gives information about the changes in the rules related to the NPS contribution of employees.

According to a report by Financial Express, the guidelines also reiterate some existing provisions, including the requirement for a 10 percent contribution from the monthly salary to be deposited in the NPS. The memorandum states that this contribution will be reviewed from time to time, but the amount will always be rounded up to the nearest whole rupee.

Contribution can be continued even after suspension
If an employee is suspended, he will have the option to continue his NPS contribution. If he rejoins service after the suspension is lifted, the contribution will be recalculated based on the salary at that time.

As per the new guidelines, it is mandatory for employees on probation period to make NPS contributions so that their pension savings can start as soon as possible .

In case of delay in depositing the contribution, the full amount along with interest will be given
. It has been clarified in the guideline that if there is any mistake in the contribution, then it will be deposited in the pension account of the beneficiary along with the interest.