Question
Which of the following are the powers and functions of
the Authority as laid down under the PFRDA Act?Solution
Section 14. Duties, powers and functions of Authority: (2) Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include-- (a) regulating the National Pension System and the pension schemes to which this Act applies; (b) approving the schemes, the terms and conditions thereof and laying down norms for the management of the corpus of the pension funds, including investment guidelines under such schemes; (c) registering and regulating intermediaries; (d) issuing to an intermediary, on application, a certificate of registration and renewing, modifying, withdrawing, suspending or cancelling such registration; (e) protecting the interests of subscribers by-- (i) ensuring safety of the contribution of subscribers to various schemes of pension funds to which this Act applies; (ii) ensuring that the intermediation and other operational costs under the National Pension System are economical and reasonable; (f) establishing mechanism for redressal of grievances of subscribers to be determined by regulations; (g) promoting professional or organisations connected with the pension system; (h) adjudication of disputes between intermediaries and between intermediaries and subscribers; (i) collecting data and requiring the intermediaries to collect such data and undertaking and commissioning studies, research and projects; (j) undertaking steps for educating subscribers and the general public on issues relating to pension, retirement savings and related issues and training of intermediaries; (k) standardising dissemination of information about performance of pension funds and performance benchmarks; (l) regulating the regulated assets; (m) levying fees or other charges for carrying out the purposes of this Act; (n) specifying by regulations the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by intermediaries; (o) calling for information from, undertaking inspection of, conducting inquiries and investigations including audit of, intermediaries and other entities or organizations connected with pension funds; (p) exercising such other powers and functions as may be prescribed.
__________ of an assessee determines the scope of chargeability of his/her income.
A project costs ₹40 lakh and will generate ₹12 lakh p.a. for 6 years. The required rate of return is 10%. PV factor for 6 years @10% = 4.3553. Calcu...
Which of the following statements is INCORRECT?
Who is the regulator of the corporate sector?
Indian Insurance Co. Ltd. on 31.12.20X1 had reserve for unexpired risk of 20 crores in respect of fire insurance business. During 20X2, the premium col...
Which Indian Accounting Standards (Ind AS) deals with "Financial Instruments"?
Revenue as per Ind AS -18 is not categorised into which one of the following types:
X Ltd. is absorbed by Y Ltd. Purchase consideration = ₹10,00,000. Assets taken over = ₹12,00,000, Liabilities = ₹3,00,000. What is the goodwill or...
An enterprise consumes 25,600 units of a component annually. The order cost is ₹600 per order, and carrying cost is ₹12/unit/year. A supplier offers...
Which of the following statements is FALSE?