Implementation of Superannuation Pension Scheme: BSNL Circular No. 382 dated 28.09.2017

Implementation of Superannuation Pension Scheme: BSNL Circular No. 382 dated 28.09.2017

Implementation of Superannuation Pension Scheme as per BSNL Employees
Superannuation Pension Trust Rules: BSNL Circular No. 382 dated 28.09.2017,  BHARAT SANCHAR NIGAM LIMITED,  (A Govt. of India Enterprise),  CORPORATE ACCOUNTS SECTION-1,  1st Floor, Bharat Sanchar Bhavan,  H.C. Mathur Lane, Janpath,  NEW DELHI – 110001,  Circular No. 382, No: 500-51 /2015-16/ Manager,  All Circles,  BSNLCA II/BSNL,  Dated 28th Sep 2017,  To,  The Chief General,  Ref: No: 500-51/2015-16/CA II/BSNL dated 20.04.2017, As a measure of extension to social security to the BSNL recruited employees (as defined in BSNL Employees Superannuation Pension Trust Rules), BSNL has approved the implementation of Superannuation Pension Scheme w.e.f. 05.05.2016

BHARAT SANCHAR NIGAM LIMITED
(A Govt. of India Enterprise)
CORPORATE ACCOUNTS SECTION-1
1st Floor, Bharat Sanchar Bhavan,
H.C. Mathur Lane, Janpath
NEW DELHI – 110001
Circular No. 382

No: 500-51 /2015-16/ Manager,

All Circles
BSNLCA II/BSNL

Dated 28th Sep 2017
To,
The Chief General


Sub: Implementation of Superannuation Pension Scheme as per BSNL
Employees Superannuation Pension Trust Rules.

Ref: No: 500-51/2015-16/CA II/BSNL dated 20.04.2017
As a measure of extension to social security to the BSNL recruited
employees (as defined in BSNL Employees Superannuation Pension Trust
Rules), BSNL has approved the implementation of Superannuation Pension
Scheme w.e.f. 05.05.2016. Accordingly, BSNL has framed BSNL Employees
Superannuation Pension Fund Trust Rules (

copy of the Trust Rules is enclosed


). As per the Trust Rules, BSNL will contribute at the rate of 3% of Basic
Pay plus IDA per month for all BSNL recruited employees, as defined in the
Trust Rules. The employees may also contribute to the scheme on a voluntary
basis. The quantum of employees’ contribution to the scheme is governed by
the Trust Rules.

In this connection, the basic procedural as well as accounting aspects of
the scheme are given below.
Read also :  60 days Productivity Linked Bonus for Postal Employees for F.Y. 2017-18
1. There are two GL codes in respect of superannuation pension scheme.
  • Claims Payable to Superannuation Pension Fund Trust – 1310203
  • Superannuation Pension Expenses – 5010310
2. Initially, on the basis of the process run in SAP, the total amount
booked under Liability GL Code-1310203 upto September 2017, will be paid to
the fund manager Corporate Office.
Particulars
Debit
Credit
Superannuation Pension Expenses

GL Code 5010310                                                                     
XXX       
              
Claims Payable to Superannuation Pension Fund Trust

GL Code-1310203
XXX
3. With effect from October 2017, on a monthly basis, at the time of
preparation of salary:
  • GL Code 5010310 will be debited for the Employer Share.
  • GL Code 1310203 will be credited by the amount of Employer share and
    Employee Share of superannuation pension scheme.
4. After completion of the salary process, total of the monthly credit under
GL Code 1310203 duly tallied with the schedules, shall -be transferred to
the Superannuation Trust on 5th of the following month followed by transfer
of the equal amount to the fund manager by the Trust at Corporate Office
level. Circles should reconcile the amount booked in GL code 1310203 with
the HCM schedules by 4th of the following month.
Read also :  Validity of downloaded Aadhaar (e-Aadhaar) as Proof of identity: Clarification by UIDAI
5. At the time of maturity of the scheme on account of superannuation /
retirement / resignation / death of the employee, the employees / nominee
of the employees will be required to opt for the pension option offered by
LIC as also annexed With this circular. To opt for the pension options,
employees / nominee of the employees shall submit the requisite forms duly
filled to the DDO/AO(Cash).
6. Circles should ensure to“ revise the terms and conditions of deputation
services to this effect and arrange to communicate with such other
organizations.
7. The SAP related operational guidelines have already been issued by ERP
HCM team.
8. General Instructions
  • In the beginning, the DDOs will ensure to get the amount of monthly
    voluntary contribution and duly filled Nomination Form (copy enclosed)
    from the employees.
  • At the time of maturity of the scheme on account of superannuation/
    retirement/ resignation / death of the employee, the DDOs/AO(Cash) will
    ensure to send the claim form to GM(CA), CO, BSNL in original. Separate
    set of forms to be sent to this office for death and other than death
    cases are enclosed as Annexure ‘A’ and ‘B’ respectively. Each page of
    the claim form should be authenticated by the DDO/AO(Cash).
  • LIC, the fund manager, of the BSNL Employees Superannuation Pension
    Scheme will provide the facility of online Web portal for each Employee
    through which the employees will be able to have updated. information
    on his superannuation pension contribution fund. The procedure to check
    the portal will be intimated in due course.
Hindi version will follow.
Read also :  7th CPC Revision of pre-2016 Pensioners: BPS writes that older and super old pensioners case should be revised on top priority
Sd/-
(V M Gupta)
Dy. General Manager (CA-III)

Source: Click on image below to view/download the BSNL Order

superannuation pension scheme as per bsnl employees pension trust rules

FOLLOW US FOR LATEST UPDATES ON  FACEBOOK AND TWITTER 

COMMENTS