PFRDA – Target Group- Who will be auto enrolled into the pension system?
Employers / Organisations/Departments employing/ engaging any person whether formally or informally will be asked to automatically enroll them into Atal Pension Yojana provided:
a) They are citizens of India and are in the age group of 18 – 40 years (proposed to be extended to 50 years).
b) There will be no obligation for the employers/organisations/depts. to contribute to the pension of the employees/ members so enrolled. However, if they do, they will be eligible for tax deduction from their income to the extent of their contribution to the employee.
c) Employees and workers in private sector, government, semi-government organizations like Micro Industries, SSI units, Anganwadi, Asha workers, Construction Boards, Gram Panchayats, NGOs SHGs, etc. will be targeted. The govt. and semi-govt. organisations to be associated in this regard by concerned Depts. of the Central and State govts.
d) Non-compliance may not be penalized, in the initial stages. Mass awareness is required to be done for adoption of auto-enrolment.