Union Cabinet has decided to raise the contribution of Central Government to National Pension System(NPS) corpus of its employee from 10% to ________
- A11%
- B20%
- C14%
- D12%
Solution & Step-by-step Explanation
In December 2018, the Union Cabinet chaired by Prime Minister Narendra Modi approved changes to the National Pension System (NPS), increasing the Central Government’s mandatory contribution from 10% to 14% of the employee's basic salary, while the employee's minimum contribution remained at 10%.