Jammu Kashmir Finance Dept Calls for Timely PRAN Generation to Safeguard Employee Interests

SRINAGAR: The Finance Department of Jammu and Kashmir has directed all appointing authorities, drawing and disbursing officers, to ensure the timely generation of PRAN (Permanent Retirement Account Number) for newly appointed government employees under the National Pension System (NPS) using Aadhaar through the eNPS portal.

As per the circular, the department stated serious concerns flagged by the Pension Fund Regulatory and Development Authority (PFRDA) and Protean eGov Technologies Ltd regarding delays in PRAN generation for new NPS subscribers.

“These delays have led to the late crediting of both employee and government shares of NPS contributions, financial losses due to delayed investment, and adverse impacts on the pension corpus,” the circular reads. It further warns of non-compliance with regulatory timelines prescribed by PFRDA, which could pose legal and financial risks.

To address the issue, the Finance Department has urged officials to adopt the online PRAN generation process via the eNPS portal. The department also enclosed a Standard Operating Procedure (SOP) issued by the designated CRA to streamline the process.

“Timely compliance with these instructions is crucial to safeguard the financial interests of employees working under the NPS framework and to ensure regulatory adherence,” the circular stressed.

The communication has been shared with all administrative secretaries, heads of departments, treasury officers, and key officials of PFRDA and Protean eGov Technologies Ltd for immediate implementation. (JKNS)