Memo.5594 Procedure for rectification of wrongly credited CPS Amounts by Treasury Dept

Cir. Memo No. D(II)2/5594/2012 Dated 23rd May 2014. Director of Treasuries has released the Guidelines for on (How to Rectify) "Rectification of the errors of the excess amounts transferred erroneously to PRANs of the Subscribers or CPS Accounts (PRAN) of other Subscribers" using Error Rectification Module in CRA Website. The two types of errors that can be rectified are  
1) Amount(s) in excess of actual deduction(s) are transferred erroneously and credited to the PRAN of a CPS subscriber (Type-I); and
2) Amount(s) are transferred erroneously and credited to a PRAN other than that of a Subscriber (Type-II). See the detailed procedure below.
Memo.5594 Procedure for rectification of wrongly credited CPS Amounts (PRAN)

Memo.5594 Procedure for rectification of wrongly credited CPS Amounts (PRAN)

Sub:- NATIONAL PENSION SYSTEM – Contributory Pension Scheme – Excess amount(s) transferred erroneously to PRANs of the CPS Subscribers; and amount(s) transferred erroneously to a PRAN other than that of a Subscriber – Instructions to all Treasuries in the State – Issued.
Ref:-
  • 01.) This Office Cir. Memo No. D(II)1/5594/2012, Dated 09/11/2013.
  • 02.) This Office Memo No. D(II)1/5594/2012, Dated 13/11/2013. 
               Attention of all the Deputy Directors of District Treasuries in the state is invited to this office memo 1st cited. They were informed of a facility called “Error Rectification Module’ enabled by the Central Record keeping Agency (CRA) in www.cra-nsdl.com and, procedures to be followed for error rectification in respect of Non-NPS Subscriber was explained in detail. The Treasury Officers can make use of this facility to rectify the errors in the following Type of errors also:-
  • i.) Amount(s) in excess of actual deduction(s) are transferred erroneously and credited to the PRAN of a CPS subscriber (Type-I); and 
  • ii.) Amount(s) are transferred erroneously and credited to a PRAN other than that of a Subscriber (Type-II). 
In these instances, whenever brought / come to his / her notice, the Treasury Officer may take action to correct error by making use of this Standard Operating Procedure (SOP) facilitated in the above said URL. Before initiating action to place a request online for rectification of an error, the Treasury Officer should keep the following guidelines in view;
  • He / She should keep the following information on hand:- 
  • PAO / Treasury Officer Registration Number. 
  • Transaction ID of SCF in which erroneous transfer was made. 
  • PRAN Number(s) (both Source and Target in respect of Type-II). 
  • Details of transaction to be rectified viz., Month and Year of contribution, contribution type i.e., Regular / Arrear, amount of contribution, etc. 
  • Treasury Officer / PAO Bank account Number, Bank name, Bank Branch and address with PIN, MICR Code, IFS Code. 
  • PRAN(s) should be active and in the same sector. 
  • Request should be by the same Treasury Officer who earlier uploaded the erroneous transaction. However, the subscriber need not be with same Treasury Officer at present. 
The CRA captures only one request per subscriber at a time. A second request in respect of the same subscriber will not be captured unless the earlier one is resolved.
The following procedure should be followed in placing a request to the CRA. Relevant Screen-shots are enclosed herewith for guidance:-

Type-I: Transfer back of erroneously transferred amount to Treasury Officer’s A/c

  1. a.) The Treasury Officer should maintain a watch register for watching the transactions in the Proforma communicated herewith in Annexure-III. 
  2. b.) Before placing the request online, the treasury officer should note down the details of transaction in Col. No. (01.) to (04.) in the watch register. 
  3. c.) The Treasury Officer logs in to www.cra-nsdl.com by using the Maker (User.1) ID and I-PIN. 
  4. d.) “Error Rectification Module” menu is displayed in the Horizontal menu at top. Choose sub-menu “Rectification of Erroneous Transfer to Subscriber”. The menu displays relevant information in Welcome page, then click on Continue button. 
  5. e.) Provide the details of Transaction ID of erroneous transfer and PRAN Number in the mandatory fields and then the additional information in the dropdown fields i.e., Contribution Type, Contribution Month and Year and the corresponding amount. Click the Submit button. “Contributions Details” against the Transaction ID concerned are displayed. 
  6. f.) Choose “Redemption of excess transfer to PRAN” from the drop down box. Provide the amount of excess transfer to be adjusted back in the field thereunder. Leaveout the field “Target PRAN details” and proceed further to give bank details. 
  7. g.) Provide Bank details of the treasury viz., Bank Account Number, Bank Name, Bank Branch, PIN Code, IFS Code, MICR Code and choose “Electronic Transfer” as ‘Mode of transfer’. Provide reason for the withdrawal in “Remarks for SoT” field for CRA’s reference. Click on the Submit button. 
  8. h.) A confirmation page is displayed. Check the details and click the Confirm button to generate Acknowledgement Number. A message “Request Captured Successfully” is displayed and an eleven (11) digit Acknowledgement ID XXXXX is generated. Note down this in Col. (05.) of watch register. This acknowledgement ID is used for tracking the status of the request. 
  9. i.) After successful logout of the user, the checker treasury officer logs in to www.cra-nsdl.com by using the Checker (second) User ID and I-PIN. 
  10. He has to go to “Error Rectification Module” menu and the sub-menu “Verify Rectification of Erroneous Transfer to Subscriber”. Then provide the details of Acknowledgement ID / PRAN Number and also select “Redemption of excess transfer to PRAN from the dropdown “Request Type”. A hyperlink (Acknowledgement ID) is displayed. Once the treasury officer clicks the hyperlink, rectification details captured earlier are displayed. The checker treasury officer shall check the information captured and “Accept” or “Reject” the request. The treasury has to recommend the CRA to process the request in “Remarks” field. When the treasury officer confirms the request, a message “Request Verified Successfully, Acknowledgement ID XXXXX is pending for authorization” is shown. 
  11. j.) Simultaneously, the Treasury Officer has to place a request through FTP for its authorization by the DTA, duly furnishing the details of Col. (01.) to (05.) of Annexure-III with remarks specifying reasons for the transaction. 
  12. k.) On receiving the request, the CPS cell in the Directorate should check all the details entered by the Treasury Officers such as PRAN, amount to be adjusted as well as Bank details of the Treasury Officer and authorize the request to the CRA, and 
  13. l) CRA processes the request, redeems all the units from the subscribers account and transfers; 
  14. amount equal to the initial investment would be credited back to bank account of the Treasury Officer as per details furnished in the request; and the amount excess realized, if any, would be credited to the Investors’ Awareness Account maintained with the Trustee Bank. 
  15. m.) On receiving the amount from the Trustee Bank, the treasury officer shall remit half of it to the HOA: 8342-00-117-00-04-001-000-NVN (Employees’ Contribution) and the remaining amount to the HOA: 8342-00-117-00-04-002-000-NVN (Government Contribution) by way of challan and record those details in Col. (06.) and (07.) of the above said Watch Register. 

Type-II: Transfer of amounts erroneously transferred to a wrong PRAN to correct PRAN 

  1. a.) The Treasury Officer should maintain a watch register for watching the transactions in the Proforma communicated herewith in Annexure-IV. 
  2. b.) Before placing the request online, the treasury officer should note down the details of transaction in Col. No. (01.) to (03.) in the watch register. 
  3. c.) The Treasury Officer logs in to www.cra-nsdl.com by using the Maker (User.1) ID and I-PIN. 
  4. d.) “Error Rectification Module” menu is displayed in the Horizontal menu at top. Choose sub-menu “Rectification of Erroneous Transfer to Subscriber”. The menu displays relevant information in Welcome page, then click on “Continue” button. 
  5. e.) Provide the details of Transaction ID of erroneous transfer and PRAN Number in the mandatory fields and then the additional information in the dropdown fields i.e., Contribution Type, Contribution Month and Year and the corresponding amount. Click the “Submit” button. “Contributions Details” against the Transaction ID concerned are displayed. 
  6. f.) Choose “Adjustment of erroneous transfer to wrong PRAN” from the drop down box. Provide the amount of excess transfer to be adjusted to correct PRAN, i.e., Target PRAN. 
  7. g.) Then the Treasury Officer has to provide the details of “Target PRAN(s)” and amount to be transferred to it in the relevant fields under “Target PRAN Details”. The Treasury Officer is required to provide reason for the withdrawal in “Remarks for SoT” field for CRA’s reference. Click the Submit button. A confirmation page is displayed. Check the details and click the Confirm button to generate Acknowledgement Number. A message “Request Captured Successfully” is displayed and an eleven (11) digit Acknowledgement ID XXXXX is generated. Note down it in Col. (04.) of the Watch Register. The acknowledgement ID is used for tracking the status of the request. 
  8. h.) After successful logout of the user, the checker Treasury Officer logs in to www.cra-nsdl.com by using the Checker (second) User ID and I- PIN. He has to go to “Error Rectification Module” menu and the sub-menu “Verify Rectification of Erroneous Transfer to Subscriber”. Then provide the details of Acknowledgement ID / PRAN Number and also select “Adjustment of erroneous transfer to wrong PRAN” from the dropdown “Request Type”. A hyperlink (Acknowledgement ID) is displayed. Once the Treasury Officer clicks the hyperlink, rectification details captured earlier are displayed. The checker Treasury Officer shall check the information captured and “Accept” or “Reject” the request. The Treasury Officer has to recommend the CRA to process the request in “Remarks” field. When the Treasury Officer confirms the request, a message “Request Verified Successfully, Acknowledgement ID XXXXX is pending for authorization” is shown. 
  9. i.) Simultaneously, the Treasury Officer has to place a request through FTP for its authorization by the DTA, duly furnishing the details of Col.(01.) to (04.) Annexure-IV with remarks specifying reasons for the transaction. 
  10. j.) On receiving the request, the CPS cell in the directorate should check all the details entered by the Treasury Officers such as “Source PRAN” and “Target PRAN(s)”, amount to be adjusted and authorize the request to the CRA, and 
  11. k.) The CRA processes the request, transfers equivalent units from the Source PRAN to Target PRAN.
If the subscriber’s scheme ratio is same, equivalent units will be debited from Source PRAN and credited to Target PRAN; and
If scheme ratio is different, the units will be redeemed from the Source PRAN based on the NAV and the redeemed amount will be credited to Target PRAN.
l.) The Treasury Officer concerned should verify the status of request in “View Request Status” and record the result of transaction in the Watch Register, i.e., Annexure-IV.
The Deputy Directors of District Treasuries in the State shall take action to communicate these instructions to all the Assistant Directors / Assistant Treasury Officers / Sub Treasury Officers / Accountants under their jurisdiction and see that all the concerned are well acquainted with these procedures.

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