The Pension Fund Regulatory and Development Authority (PFRDA) has issued the Pension Fund Regulatory and Development Authority (Employees’ Service) (Second Amendment) Regulations, 2025, introducing a series of amendments to the 2015 regulations. These updates aim to enhance governance, employee welfare, and regulatory compliance within the authority.
Overview of the Amendments
The amendments, notified under No. PFRDA/05/1/0025/2017-HR, extend the applicability of regulations, revise definitions, update classification and recruitment norms, introduce new leave provisions, and strengthen compliance and accountability mechanisms for PFRDA employees.
Applicability and Key Definitions
- The regulations apply to all officers and employees appointed under Section 11 of the PFRDA Act, 2013, as well as those appointed by the Interim Authority prior to the notification of the Act.
- New definitions have been introduced for deputation and external assignment, specifying terms for temporary postings and remuneration arrangements.
- Employee family definition has been updated for the purpose of benefits like health insurance and leave travel concessions.
Gender and Inclusivity Provisions
The regulations now explicitly include females and transgender persons wherever the context requires and clarify that singular terms include plural forms.
Classification and Recruitment of Employees
PFRDA employees are classified as:
- Officers (Grades A to F, and Executive Director)
- Secretarial Staff on deputation (Grades A, B, C)
- Junior Assistants
- Drivers
The selection and recruitment process includes constitution of a Selection Committee for promotions and a Search-cum-Selection Committee for Executive Director appointments and deputations. Appointments for Executive Director require prior approval from the Authority.
Probation and Promotions
- Direct appointees will undergo a two-year probation period, while promoted employees will have one year of probation.
- All promotions and upgradations are at the discretion of the Authority and governed by internal policies.
Leave Policies and Employee Welfare
Ordinary Leave and Leave Encashment
- Employees are entitled to 30 days of ordinary leave annually, with a maximum accumulation of 300 days.
- Leave encashment is permitted for 10 to 30 days per year, provided employees have a minimum balance of 180 days.
Special Leave Provisions
- Special Hardship Leave: Employees completing five years are eligible, primarily for family or health-related reasons, with conditions for approval, duration, and compensation in case of early resignation.
- Maternity Leave Updates: Cover commissioning mothers and adoption cases for a period of 180 days within the total eligibility of 360 days.
- Paternity Leave: Male employees with less than two surviving children due to surrogacy may avail 15 days within six months of custody.
- Special Casual Leave: Up to 10 days annually for differently-abled employees for development-related programs.
Deputation and External Assignments
Employees may be deputed or assigned externally only with prior approval of the Authority and cannot be sent against their will.
Accountability, Ethics, and Property Declarations
- All employees must declare movable, immovable, and valuable property under PFRDA guidelines.
- Rules on employee contributions to media now require prior sanction and disclaimers for personal views.
- Special provisions have been added for action against employees post-retirement or after leaving the Authority for alleged corrupt practices.
Professional Qualifications and Experience Requirements
The amendment outlines educational qualifications, professional certifications, and desirable experience for officers across various streams including General, Legal, Research, IT, Engineering, Finance, Actuarial, and Official Language (Rajbhasha).
Conclusion
These comprehensive amendments aim to strengthen employee governance, ensure transparency, and provide better work-life balance while reinforcing compliance mechanisms and ethical standards at PFRDA.