National Pension System web portal is providing a facility to access and downloading the CPS Account Slip 2023 or CPS PRAN Account Annual Statement 2023 to all employees.
Employees across the India who have joined on or before 01-01-2014 and working in various Departments under State Government and Central Government can check details and NPS PRAN Account Annual Statement 2023.
As an employee in the public sector in India, it is important to keep track of your contributions to the Contributory Pension Scheme (CPS). One way to do this is by obtaining a CPS account slip.
The CPS account slip is an official document that contains details of an employee’s contributions to the CPS, including the total amount contributed and the interest earned. In this article, we will explore the CPS Annual account slip 2023, its components, benefits, and how to access it online.
What is CPS Account Slip?
The CPS account slip is a document that provides information about an employee’s contributions to the Central Pension Scheme (CPS). It is a record of an employee’s pension fund contributions and is issued by the Accountant General’s (AG) office.
The purpose of the CPS account slip is to provide transparency in the management of the CPS and to enable employees to keep track of their pension contributions.
Components of CPS Annual Account Slip
The CPS Annual account slip contains the following components:
- Personal Information: This includes the employee’s name, employee code, and office name.
- Summary of CPS Contribution: This provides a summary of the employee’s CPS contributions, including the total amount contributed and the interest earned.
- Details of CPS Contributions: This includes a detailed breakdown of the employee’s CPS contributions, including the amount contributed in each financial year, the interest earned, and the total amount contributed to date.
- Pensionable Salary Details: This provides information about the employee’s pensionable salary, including the basic pay, dearness allowance, and any other allowances.
How CPS Account Slip Works
The CPS account slip works by providing an official record of an employee’s contributions to the Central Pension Scheme. It is generated annually by the Accountant General’s (AG) office and is made available to employees online.
Employees can access their CPS account slip (CPS Annual Slip) by logging into the AG’s website and entering their employee code and date of birth.
Benefits of CPS Account Slip 2023
There are several benefits of using the CPS account slip 2023. Some of the key advantages include:
Improved Accessibility and Convenience: With the introduction of the CPS Annual Slip 2023, employees can access their CPS account slip online CRA NSDL Website https://cra-nsdl.com/CRA/ from anywhere at any time.
This eliminates the need to visit the AG’s office in person, which can be time-consuming and inconvenient.
Better Security Measures: The CPS account slip 2023 is generated using secure software, which ensures that the document is tamper-proof and cannot be altered or forged. This provides employees with greater confidence in the authenticity of their CPS account slip.
However, please note that the maximum deduction from your taxable income is limited to Rs.1.50 lac, as permitted under Sec 80 CCE of the Income Tax Act.
Due to review of transactions, units allotted to certain Subscribers may undergo a change. Review of transactions carried out in order to protect the interest of Subscribers as directed by PFRDA.
Further, an additional deduction from your taxable income to the extent of Rs.50,000/- is available only for contribution in NPS u/s Sec. 80 CCD (1B) of the Income Tax Act.
| Name of the Slip | CPS Annual Slip 2023 |
|---|---|
| Title | Download the CPS Statement 2023 |
| Subject | NSDL released the CPS Annual Statement 2023 |
| Category | Slip |
| Website | https://npscra.nsdl.co.in/ |
| PRAN Statement | https://cra-nsdl.com/CRA/ |
Below given example, your salary is Rs.15 lac per annum. On contribution of Rs.2 lac, you can avail: Also note that your employer’s contribution up to 10% of your salary is fully deductible from your taxable income.
| Deduction | Amount |
|---|---|
| a) Deduction under Sec. 80 CCD (1) | Rs.1.50 lac |
| b) Deduction under Sec. 80 CCD (1B) | Rs.50,000 |
| Total deduction (a+b) | Rs.2.00 lac |
How to download CPS PRAN Account Annual Statement 2023
CPS Employees who are working in various departments under Contributory Pension Scheme can check details and download the CPS account slip 2023 from the official website. Here are the steps to follow:
- Visit the official website
Visit the NSDL e-Governance Infrastructure Limited website https://npscra.nsdl.co.in/.
- Click on Login tab
On this home page, Click on the login link and a pop up window will be appeared. In this popup window click on the link of Subscribers-NPS Regular. The pop up window look like this.
- Enter login details
Then, CRA NSDL Official Web Portal with login web application will be opened. CPS Employee NPS PRAN Account Login web application look like this. In this page, Enter your PRAN Account User ID, Password and captcha code in the required fields and click on the submit button.
- Click on Transaction Statement
Then, NPS Statement or PRAN Annual Statement 2023 downloading web application will appear. In this web page, go to invest summary and click on the Transaction Statement. Then, Your CPS Annual Account Statement of transaction web page will appear.
- Click on the Generate statement button
Now, Select the financial year from the drop down list and Click on the Generate statement button. Your NPS Transaction Statement for Tier 1 account will be appeared.
- Check Details
Now check the details and download the PRAN Annual Account Statement 2023 in a PDF format from the given ICONs.
- Download Statement
Open the NPS Annual Account Statement 2023 PDF file and check the all details. Take a print and preserve it future reference
NPS Website Details
On the NPS website, the ‘Investment Details’ section provides scheme wise details of the Total Contribution processed in your PRAN account. ‘Total Contributions’ in your account as on March 31 (in Rupees) indicates the cost of units currently held in the PRAN account. ‘Unrealized Gain / Loss’ (in Rs.) indicates the gain/loss in the account for the current units balance in the account.
Account Management: The section “Account Management – Changes made during the Financial Year’ indicates all the change requests processed in PRAN account during the period for which the statement is generated.
Contribution/Redemption Details: The section ‘Contribution/Redemption Details’ gives the details of the contributions and redemption processed in subscriber’s account during the period for which the statement is generated. While contribution amount indicates the amount invested in subscriber’s account, the redemption amount indicates the cost of units redeemed from the account.
The cost of units is calculated on a First-In-First-Out (FIFO) basis. The details are sorted based on date when the transaction is posted in PRAN account, which may/ may not be the date for allotment of the NAV.
Transaction Details: The section ‘Transaction Details’ gives the units allotted under different schemes / asset classes for each of the contributions processed in subscriber’s account during the period for which the statement is generated.
It also contains units debited from the account for redemption and rectification. The details are sorted based on date when the transaction is posted in PRAN account, which may/may not be the date for allotment of the NAV.
The Amount in the Closing Balance under the section ‘Transaction Details’ gives the cost of investment of the balance units and not a sum total of all contribution and withdrawal. The cost of units is calculated on a First-In-First-Out (FIFO) basis.
For transactions with the remarks “To Unit Redemption”, the cost of units redeemed are adjusted against the total contribution in the Investment Details section. Further, the cost of units is calculated on a First-In-First-Out (FIFO) basis. For calculating the ‘Returns based on Inflows’, the actual redemption value corresponding to the units redeemed has been considered
The Transaction Statement (PRAN Account Statement) is dynamic. The value and other computations in the Transaction Statement depend upon the date on which the Transaction Statement is accessed in CRA system.
The balances and respective narrations reflecting in employee PRAN account are based on the contribution amount and details uploaded by your uploading office (PAO/CDDO) for Central Govt. and (DTA/DTO) for State Government. In case there is no/short/excess contribution for any month or no clarity in the narration, please contact your uploading office.
The narration appearing in the Arrear Contributions is as mentioned by your office at the time of giving/uploading information to CRA. In case you do not find clarity in the narration provided, you may kindly contact your PrAO/PAO/CDDO for Central Government and DTA/DTO for State Government.
The contents of the Transaction Statement will be deemed to be correct and accepted by you unless you inform us of any error/ discrepancy within 30 days of receipt of the Transaction Statement.
There may be more than one credit appearing against a month. This may be due to monthly subscription contribution being sent through multiple fund transfers on different days by the PAO/CDDO for Central Government and DTA/DTO for State Government.
Pension Fund Scheme
As per the Gazette Notification dated January 31, 2019 issued by the Ministry of Finance (Department of Financial Services), the Central Government Subscribers w.e.f. April 1, 2019 have the option of selecting the Pension Funds (PFs) and Investment Pattern in their Tier- I account.
The Subscriber can choose any one of the available Pension Funds and Investment Option as per their choice. If the choice is not exercised by the Subscriber, NPS contributions would be invested in the existing default schemes of the 3 Pension Fund Managers (PFMs), viz,
As per Ministry of Finance Gazette Notification dated January 31, 2019, Central Govt. NPS contribution has increased from 10% to 14% (of Basic Pay + Dearness Allowance). Accordingly, feature has already been enabled for Central Govt. including CABs and for some of State Govt.
Requirements for Accessing CPS Account Slip 2023
To access the CPS account slip 2023, employees need to have an active account on the AG’s website. They will also need to have their employee code and date of birth handy.
It is important to ensure that the information entered is accurate and up to date to avoid any errors or issues when accessing the CPS account slip.
Common Issues with CPS Account Slip 2023
While the CPS account slip 2023 is a convenient and secure way to access information about an employee’s contributions to the CPS, some users may experience issues when accessing their account slip. Some of the common problems include:
- Unable to access the AG’s website due to technical issues or maintenance.
- Incorrect employee code or date of birth entered during the login process.
- Failure to update personal information such as the employee’s address or mobile number, which can lead to issues when accessing the CPS account slip.
Solutions to Common Problems: If you encounter any issues when accessing your CPS account slip, there are several solutions available. These include:
- Contacting the Accountant General’s office for assistance.
- Ensuring that the correct employee code and date of birth are entered during the login process.
- Updating personal information such as address and mobile number to avoid any issues when accessing the CPS account slip.
What is CPS account slip?
CPS account slip is an official document that contains details of an employee's contributions to the Central Pension Scheme (CPS).
How does CPS account slip work?
The CPS account slip works by providing an official record of an employee's contributions to the Central Pension Scheme. It is generated annually by the Accountant General's (AG) office and is made available to employees online.
What are the benefits of CPS account slip 2023?
The benefits of CPS account slip 2023 include improved accessibility and convenience, better security measures, and increased transparency in the management of the CPS.
How can I access CPS account slip 2023?
To access the CPS account slip 2023, employees need to visit the Accountant General's (AG) website and enter their employee code and date of birth.
What should I do if I encounter problems with CPS account slip 2023?
If you encounter any problems when accessing your CPS account slip, you can contact the Accountant General's office for assistance or ensure that the correct employee code and date of birth are entered during the login process.
In conclusion, the CPS account slip 2023 is an essential document for employees in the public sector in India. It provides transparency in the management of the Central Pension Scheme and enables employees to keep track of their contributions to the scheme.
With the introduction of the CPS Annual Slip 2023, accessing this document has become more convenient and secure. By following the steps outlined in this article, employees can easily access their CPS account slip and ensure