The Pension Fund Regulatory and Development Authority makes the Pension Fund Regulatory and Development Authority (Pension Fund) (Fifth Amendment) Regulations, 2021 to amend the Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015.
(I) In regulation 8 dealing with the Eligibility criteria, in sub–regulation (1)(d) shall be substituted as below–
(d) the sponsors, individually or jointly, shall have a positive tangible net worth of at least fifty crore rupees on the last day of each of the preceding five financial years and at least twenty–five crore rupees should be the paid up equity capital on the date of making application as sponsor;
OLD: the sponsor shall have profits after tax in at least three of the preceding five financial years and further that there shall be no cash loss in the last preceding five years;
Read Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 HERE
