Okay, I'm ready to analyze the provided policy text and generate the report.
**Report: Analysis of the Pension Fund Regulatory and Development Authority Employees Service Second Amendment Regulations, 2021**
**1. Executive Summary:**
This report analyzes the Pension Fund Regulatory and Development Authority (PFRDA) Employees Service Second Amendment Regulations, 2021, as published in the Gazette of India on July 2, 2021. This amendment focuses on modifying the educational qualification requirements for direct recruits across various grades and streams within PFRDA, as well as changes to leave encashment rules. The key finding is that the amendment aims to broaden the eligibility criteria for specific positions and modify the conditions for employees to encash their accumulated leave.
**2. Introduction:**
The purpose of this report is to provide a detailed analysis of the Pension Fund Regulatory and Development Authority (PFRDA) Employees Service Second Amendment Regulations, 2021, based solely on the information provided in the official gazette notification. This report aims to inform stakeholders about the specific changes introduced and their potential implications.
**3. Policy Overview:**
* This is an amendment to the Pension Fund Regulatory and Development Authority Employees Service Regulations, 2015.
* Core Objective(s): Based on the provided text, the core objective of *this amendment* is to revise the educational qualification criteria for direct recruitment in certain grades and streams within PFRDA, and to modify the regulations related to leave encashment for employees.
**4. Background and Rationale:**
The amendment likely stems from a need to update and broaden the pool of qualified candidates for various positions within the PFRDA. The expansion of acceptable qualifications indicates a desire for more flexibility in hiring and potentially to attract a more diverse range of expertise. The leave encashment changes likely aim to provide employees with greater flexibility in managing their accumulated leave.
**5. Key Provisions / Changes:**
This amendment introduces the following key changes:
* **I. Educational Qualification for Direct Recruits (Grades D, E, F, A, B, C):**
* **Original Policy (Inferred):** The original policy specified particular educational qualifications for direct recruits in Grades D, E, F, A, B, and C within PFRDA.
* **New Rule:** The amendment *substitutes* the existing educational qualification requirements in column 3 of row 3 and 4 under the heading "Age, Qualification Experience for Direct recruits". The specific changes detailed includes expansion of acceptable degree types (Masters, Bachelors in Law/Engineering) and professional certifications (ACA, FCA, ACMA, FCMA, ACS, FCS, CFA) for various streams (General, Legal, Research, Technical, Rajbhasha Official Language, Finance Accounts).
* **Effect of Change:** This change broadens the eligibility criteria by recognizing a wider range of degrees and professional certifications, likely increasing the pool of qualified applicants for these positions.
* **II. Educational Qualification for Direct Recruits (Actuarial Stream, Grade A):**
* **Original Policy (Inferred):** The original policy specified particular educational qualifications for direct recruits in Actuarial Stream (Grade A) within PFRDA.
* **New Rule:** The amendment *inserts* the educational qualification requirements in column 3 of row 4 under the heading "Age, Qualification Experience for Direct recruits". The specific changes require graduation from a recognized university and passing or exemption in all Seven (07) 'Core Principles' subjects of the Institute of Actuaries of India (IAI) Examination for officers in the Actuarial Stream.
* **Effect of Change:** This change clearly defines the eligibility criteria of the Actuarial stream (Grade A).
* **III. Leave Encashment:**
* **Original Policy (Inferred):** Regulation 38 likely contained the existing rules regarding leave encashment.
* **New Rule:** The amendment *substitutes* sub-regulation 1 of Regulation 38. Now, an employee may be permitted to encash ordinary leave once in two years for a minimum period of 10 days and a maximum period of 30 days. The condition is that at the time of encashment, the employee must have a leave balance not less than the leave being encashed.
* **Effect of Change:** This change allows employees to encash leave, setting a minimum and maximum limit for the period encashed, and requiring a sufficient remaining leave balance.
**6. Target Audience and Stakeholders:**
Based on the text, the primary target audience and stakeholders are:
* Potential applicants seeking direct recruitment positions within PFRDA (especially for Grades D, E, F, A, B, C and Actuarial Stream(Grade A)).
* Current employees of PFRDA who are eligible for leave encashment.
* The HR department and recruitment teams within PFRDA, who are responsible for implementing the new qualification criteria.
**7. Implementation Aspects (Inferred):**
* **Responsible Agency/Bodies:** The Pension Fund Regulatory and Development Authority (PFRDA) is the responsible body.
* **Timelines/Procedures:** The amendment came into force on the date of its publication in the Official Gazette (July 2, 2021). Specific procedures for implementing the new qualification criteria and leave encashment rules would likely be developed internally by PFRDA.
**8. Expected Outcomes / Impact of Changes:**
The likely intended outcomes of these changes are:
* **Broader Applicant Pool:** The revised qualification criteria are expected to attract a wider range of qualified candidates for direct recruitment, improving the quality and diversity of the PFRDA workforce.
* **Clearer Eligibility:** With the clearer definitions of educational requirements for direct recruitment of Actuarial Stream officers, the eligibility of applicants can be clearly defined.
* **Employee Flexibility:** The modified leave encashment rules are intended to provide employees with greater flexibility in managing their leave and accessing funds when needed, potentially improving employee satisfaction and morale.
**9. Conclusion:**
The Pension Fund Regulatory and Development Authority Employees Service Second Amendment Regulations, 2021, represents a significant update to the organization's employee service regulations. The changes to educational qualification requirements and leave encashment rules are designed to broaden eligibility, enhance employee benefits, and streamline internal processes. These amendments are important for both potential recruits and current employees of PFRDA.
Key Entities Referenced
NEW DELHI: The city where the notification was issued.
Pension Fund Regulatory and Development Authority: Regulatory body responsible for pension funds in India.
Pension Fund Regulatory and Development Authority Act, 2013: The act of the Indian Parliament that established the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority Employees Service Regulations, 2015: Original regulations governing employee service within the Pension Fund Regulatory and Development Authority.
Pension Fund Regulatory and Development Authority Employees Service Second Amendment Regulations, 2021: Amendment to the Pension Fund Regulatory and Development Authority Employees Service Regulations, 2015.
Institute of Chartered Accountants of India: A professional accounting body in India.
Institute of Cost Accountants of India: A professional accounting body in India, formerly known as Institute of Cost Works Accountants of India.
Institute of Company Secretaries of India: A professional body for Company Secretaries in India.
CFA Institute: Global association of investment professionals.
Institute of Actuaries of India: Professional body governing Actuaries in India.
SUPRATIM BANDYOPADHYAY: Chairperson of the Pension Fund Regulatory and Development Authority.
Mayapuri, New Delhi: Location of the Government of India Press.
Delhi: Location of the Controller of Publications
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-02072021-228075
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 268] नई दिल्ली, िुक्रिार, िुलाई 2, 2021/आषाढ़ 11, 1943
No. 268] NEW DELHI, FRIDAY, JULY 2, 2021/ASHADHA 11, 1943
पिें न जनजध जिजनयामक और जिकास प्राजधकरण
अजधसचू ना
नई दिल् ली, 1 िुलाई, 2021
(कममचारी सेिा) (िसू रा संिोधन) जिजनयम, 2021
स.ंपीएफआरडीए/12/आरिीएल/139/11.—पेंिन जनजध जिजनयामक और जिकास प्राजधकरण, पेंिन जनजध
जिजनयामक और जिकास प्राजधकरण अजधजनयम, 2013 (2013 का 23) की धारा 52 की उपधारा (2) के खंड (ख) के साथ
पठित उसकी उप-धारा 11 की उपधारा (2) द्वारा प्रित्त िजियों का प्रयोग करते हुए, पेंिन जनजध जिजनयामक और जिकास
प्राजधकरण एति ्द्वारा पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) जिजनयम, 2015 में संिोधन करत े
हुए जनम्न जिजनयम बनाता ह ै; नामतः –
1. इन जिजनयमों को पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) (िसू रा संिोधन) जिजनयम,
2021 कहा िा सकेगा I
2. यह जिजनयम िासकीय रािपत्र में उनके प्रकािन की जतजथ से प्रिृत्त होंगे I
3. पेंिन जनजध जिजनयामक और जिकास प्राजधकरण (कममचारी सेिा) जिजनयम, 2015 म:ें-
3668 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
I. जिजनयम 6 म,ें उप-जिजनयम 4 के खडं (ख) की अनुसूची में तीसरी पंजि के स्ट्तंभ 3 और 4 म ें [िीषमक- सीधी भती के जलए
आय,ु योग्यता और अनुभि के तहत] ग्रडे डी, ई तथा एफ और ए, बी और सी के जलए अहतम ा (योग्यता) की मौिूिा अपेक्षाएं
जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगी, अथामत्:-
अहतम ा:
"सामान्य धारा म ें अजधकाठरयों के जलए, दकसी भी जिषय में स्नातकोत्तर उपाजध, जिजध में स्नातक की उपाजध, दकसी
भी मान्यता प्राप्त जिश्वजिद्यालय से इंिीजनयररंग में स्नातक की उपाजध, आईसीएआई (इंस्ट्टीट्यटू ऑफ चाटमड म एकाउंटेंट्स
ऑफ इंजडया) स े एसोजसएट चाटमडम अकाउंटेंट (एसीए) या फेलो चाटमड म अकाउंटेंट (एफसीए)/इंस्ट्टीट्यूट ऑफ कॉस्ट्ट
अकाउंटेंट्स ऑफ इंजडया (आईसीएमएआई) [पूिमिती इंस्ट्टीट्यूट ऑफ कॉस्ट्ट एंड िक्ससम अकाउंटेंट्स ऑफ इंजडया
(आईसीडब्लल्यूएआई)] से एसोजसएट कॉस्ट्ट एंड मैनेिमेंट अकाउंटेंट (एसीएमए) [पूिमिती एसोजसएट इंस्ट्टीट्यूट ऑफ
कॉस्ट्ट एंड िक्ससम अकाउंटेंट ऑफ इंजडया (एआईसीडब्लल्यूए)] या फेलो कॉस्ट्ट एंड मैनेिमेंट अकाउंटेंट (एफसीएमए)
[पूिमिती फेलो इंस्ट्टीट्यूट ऑफ कॉस्ट्ट एडं िक्ससम अकाउंटेंट ऑफ इंजडया (एफआईसीडब्लल्यूए)]/ इंस्ट्टीट्यूट ऑफ कंपनी
सेक्रेटरीि ऑफ इंजडया (आईसीएसआई) स े एसोजसएट कंपनी सेक्रेटरी (एसीएस) या फेलो कंपनी सेक्रेटरी (एफसीएस) /
सीएफए इंस्ट्टीट्यूट ऑफ ऑदफससम से चाटमडम फाइनेंजियल एनाजलस्ट्ट (सीएफए)
जिजधक धारा में अजधकाठरयों के जलए, दकसी मान्यताप्राप्त जिश्वजिद्यालय/ संस्ट्थान से जिजध म ेंस्नातक की उपाजध I
अनुसंधान धारा में अजधकाठरयों के जलए, सांजययकी/अथमिास्त्र/िाजणज्य/व्यिसाय प्रबंधन (जित्त) [जबज़नेस
एडजमजनस्ट्रेिन (फाइनेंस)]/अथजम मजत (एकोनोमैठरक्सस) में स्नातकोत्तर की उपाजध I
तकनीकी धारा (सूचना प्रणाली) में अजधकाठरयों के जलए, इंिीजनयररंग (जिद्युत (इलेजक्सरकल)/ इलक्से राजनक्सस और
कम्यूजनकेिंस/ सूचना प्रौद्योजगकी/कम्पयूटर साइंस) में स्नातक की उपाजध/कंप्यूटर एजप्लकेिन में मास्ट्टर की उपाजध/
कंप्यूटर में स्नातकोत्तर (जिसकी अिजध कम से कम 2 िषो की हो) अहतम ा के साथ दकसी भी जिषय में स्नातक की
उपाजध I”
रािभाषा धारा में अजधकाठरयों के जलए, दकसी मान्यताप्राप्त जिश्वजिद्यालय/ संस्ट्थान स,े स्नातक स्ट्तर पर एक जिषय के
रूप म ें अंग्रेज़ी सजहत ंहिं ी म ें स्नातकोत्तर उपाजध या स्नातक स्ट्तर पर एक जिषय के रूप में ंहिं ी सजहत संस्ट्कृत/अंग्रेज़ी/
अथमिास्त्र/िाजणज्य में स्नातकोत्तर उपाजध I
जित्त और लेखा धारा म ें अजधकाठरयों के जलए, दकसी मान्यता प्राप्त जिश्वजिद्यालय से स्नातक और आईसीएआई
(इंस्ट्टीट्यूट ऑ च चाटडम म अकाउंटेंट्स ऑफ इंजडया) से एसोजसएट चाटमड म अकाउंटेंट (एसीए) या फेलो चाटमड म अकाउंटेंट
(एफसीए) / इंस्ट्टीट्यूट ऑफ कॉस्ट्ट अकाउंटेंट्स ऑफ इंजडया (आईसीएमएआई) [पूिमिती इंस्ट्टीट्यूट ऑफ कॉस्ट्ट एडं िक्सस म
अकाउंटेंट्स ऑफ इंजडया ( आईसीडब्लल्यूएआई)] स े एसोजसएट कॉस्ट्ट एडं मनै ेिमेंट अकाउंटेंट (एसीएमए) [पूिमिती
एसोजसएट इंस्ट्टीट्यूट ऑफ कॉस्ट्ट एडं िक्ससम अकाउंटेंट ऑफ इंजडया (एआईसीडब्लल्यूए)] या फेलो कॉस्ट्ट एडं मैनेिमेंट
अकाउंटेंट (एफसीएमए) [पूिमिती फेलो इंस्ट्टीट्यूट ऑफ कॉस्ट्ट एंड िक्ससम अकाउंटेंट ऑफ इंजडया (एफआईसीडब्लल्यूए)] /
इंस्ट्टीट्यूट ऑफ कंपनी सेक्रेटरीि ऑफ इंजडया (आईसीएसआई) से एसोजसएट कंपनी सेक्रेटरी (एसीएस) या फेलो कंपनी
सेक्रेटरी (एफसीएस) / सीएफए इंस्ट्टीट्यूट ऑफ ऑदफससम से चाटमडम फाइनेंजियल एनाजलस्ट्ट (सीएफए)”
II. जिजनयम 6 के उप-जिजनयम 4 के स्ट्तम्भ 3 की पजं ि 4 म ें खडं (ख) [िीषकम - सीधी भती के जलए आय,ु योग्यता और
अनभु ि के तहत] के तहत अनसु चू ी में, ग्रडे ए अजधकाठरयों के जलए योग्यता में, बीमादं कक धारा म ें िजै क्षक योग्यता को
जनम्नानसु ार िोडा िाएगा :
बीमांदकक धारा में अजधकाठरयों के जलए, दकसी मान्यता प्राप्त जिश्वजिद्यालय से स्नातक की उपाजध और भारतीय
बीमांकक संस्ट्थान (आईएआई ) परीक्षा के सभी सात (07) मुयय जसद्ांत जिषयों में/से उत्तीण मया मुि”[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3
III. जिजनयम 38 के उप जिजनयम (1) को जनम्नानसु ार प्रजतस्ट्थाजपत दकया िाएगा:
“कममचारी को िो िषों म ें एक बार 10 दिनों की न्यूनतम कालािजध और 30 दिनों की अजधकतम कालािजध के जलए
साधारण छुट्टी को भुनाने की अनुज्ञा िी िा सकेगी I
परन्त ुयह दक ऐस े भुनान े के समय कममचारी की िेष िमा छुठट्टयां इस प्रकार भनु ाई गई छुठट्टयों से न्यून नहीं होंगी I”
सुप्रजतम बंिोपाध्याय, अध्यक्ष
[जिज्ञापन-III/4/असा./133/2021-22]
पािलखे :
1. मूल जिजनयम, पेंिन जनजध जिजनयामक तथा जिकास प्राजधकरण (कममचारी सेिा) जिजनयम, 2015, भारत के
रािपत्र में 14 मई 2015 को अजधसूचना सं.पीएफआरडीए/12/आरिीएल/139/11 के माध्यम से प्रकाजित दकय े
गए थे I
2. पेंिन जनजध जिजनयामक तथा जिकास प्राजधकरण (कममचारी सेिा) जिजनयम (प्रथम संिोधन), 2018, भारत के
रािपत्र म ें 31 अक्सटूबर, 2018 को अजधसूचना सं.पीएफआरडीए/12/आरिीएल/139/11 के माध्यम से प्रकाजित
दकये गए थे I
3. पेंिन जनजध जिजनयामक तथा जिकास प्राजधकरण (कममचारी सेिा) जिजनयम (संिोधन), 2018, भारत के रािपत्र
में 28 अप्रैल, 2020 को अजधसूचना सं.पीएफआरडीए/12/आरिीएल/139/11 के माध्यम से प्रकाजित दकये गए
थIे
4. पेंिन जनजध जिजनयामक तथा जिकास प्राजधकरण (कममचारी सेिा) जिजनयम (संिोधन), 2018, भारत के रािपत्र
में 24 माच,म 2021 को अजधसूचना सं.पीएफआरडीए/12/आरिीएल/139/11 के माध्यम से प्रकाजित दकये गए थIे
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 1st July, 2021
EMPLOYEES’ SERVICE (SECOND AMENDMENT) REGULATIONS, 2021
No. PFRDA/12/RGL/139/11.—In exercise of the powers conferred by sub-section (2) of section 11 read
with sub – clause (b) of sub – section (2) of section 52 of the Pension Fund Regulatory and Development Authority
Act, 2013 (Act no. 23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the
following regulations to amend the Pension Fund Regulatory and Development Authority (Employees’ Service)
Regulations, 2015, namely,: -
1. These regulations may be called the Pension Fund Regulatory and Development Authority (Employees’
Service) (Second Amendment) Regulations, 2021.
2. These shall come into force on the date of their publication in the Official Gazette.
3. In the Pension Fund Regulatory and Development Authority (Employees’ Service) Regulations, 2015:-
I. In the schedule under clause (b) of sub-regulation 4 of Regulation 6, in column 3 of row 3 and 4 [under heading-
Age, Qualification & Experience for Direct recruits], for qualification for Grade D, E & F and A, B & C, the
existing educational qualification (Qualification) shall be substituted as follows:
Qualification:
“Master’s Degree in any discipline, Bachelor’s Degree in Law, Bachelor’s Degree in Engineering from a
recognized university, Associate Chartered Accountant (ACA) or Fellow Chartered Accountant (FCA) from ICAI
(Institute of Chartered Accountants of India)/ Associate Cost and Management Accountant (ACMA) [erstwhile
Associate of Institute of Cost & Works Accountant of India (AICWA)] or Fellow Cost and Management
Accountant (FCMA) [erstwhile Fellow of Institute of Cost & Works Accountant of India (FICWA)] from
Institute of Cost Accountants of India (ICMAI) [erstwhile Institute of Cost & Works Accountants of India4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
(ICWAI)] / Associate Company Secretary (ACS) or Fellow Company Secretary (FCS) from Institute of Company
Secretaries of India (ICSI) / Chartered Financial Analyst (CFA) from CFA Institute for officers in the General
Stream.
Bachelor’s Degree in Law from a recognized university/Institute for officers in the Legal Stream.
Master’s Degree in Statistics/Economics/Commerce/Business Administration (Finance)/Econometrics for officers
in the Research Stream.
Bachelor’s Degree in Engineering (electrical /electronics and communication /information technology/computer
science)/Masters in Computer Application / Bachelor’s Degree in any discipline with a post graduate qualification
(minimum 2 years duration) in computers/information technology for officers in Technical Stream (Information
System).
Master's Degree in Hindi with English as one of the subjects at Bachelor's Degree level or Master's Degree in
Sanskrit/English/Economics/Commerce with Hindi as a subject at Bachelor's Degree level from a recognised
University/Institute for officers in the Rajbhasha (Official Language) Stream.
Graduation from a recognized university and Associate Chartered Accountant (ACA) or Fellow Chartered
Accountant (FCA) from ICAI (Institute of Chartered Accountants of India)/ Associate Cost and Management
Accountant (ACMA) [erstwhile Associate of Institute of Cost & Works Accountant of India (AICWA)] or Fellow
Cost and Management Accountant (FCMA) [erstwhile Fellow of Institute of Cost & Works Accountant of India
(FICWA)] from Institute of Cost Accountants of India (ICMAI) [erstwhile Institute of Cost & Works
Accountants of India (ICWAI)] / Associate Company Secretary (ACS) or Fellow Company Secretary (FCS) from
Institute of Company Secretaries of India (ICSI) / Chartered Financial Analyst (CFA) from CFA Institute for
officers in the Finance & Accounts Stream”.
II. In the schedule under clause (b) of sub-regulation 4 of Regulation 6, in column 3 of row 4 [under heading – Age,
Qualification & Experience for Direct Recruits], for qualification for Grade A, the educational qualification
(Qualification) for Actuarial Stream shall be inserted as follows:
Qualification:
Graduation from a recognized university and Pass or exemption in all Seven (07) 'Core Principles' subjects of the
Institute of Actuaries of India (IAI) Examination for officers in the Actuarial Stream.
III. The sub regulation (1) of Regulation 38 shall be substituted as follows:
“An employee may be permitted to encash ordinary leave once in two years for a minimum period of 10 days and
a maximum period of 30 days.
Provided that at the time of such encashment the employee has to his credit a balance of leave which shall not be
less than the leave so encashed”.
SUPRATIM BANDYOPADHYAY, CHAIRPERSON
[ADVT.-III/4/Exty./133/2021-22]
Footnote:
1. The Principal Regulations, The Pension Fund Regulatory and Development Authority (Employees’ Service)
Regulations, 2015 were published in the Gazette of India on 14th May, 2015 vide Notification No. PFRDA/12
/RGL/139/11.
2. The Pension Fund Regulatory and Development Authority (Employees’ Service) (First Amendment)
Regulations, 2018 were published in the Gazette of India on 31st October, 2018 vide Notification No.
PFRDA/12/RGL/139/11.
3. The Pension Fund Regulatory and Development Authority (Employees’ Service) (Amendment) Regulations,
2020 were published in the Gazette of India on 28th April, 2020 vide Notification No. PFRDA/ 12/
RGL/139/11.
4. The Pension Fund Regulatory and Development Authority (Employees’ Service) (Amendment) Regulations,
2021 were published in the Gazette of India on 24th March 2021 vide Notification No. PFRDA/12
/RGL/139/11.
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and Published by the Controller of Publications, Delhi-110054.