Request for Proposal for Appointment of Chartered Accountant/Cost Accountants Firm as Internal Auditor of PFRDA for the F.Y.2021-22.

Please Read Corrigendum given at the end first .

+-PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

(PFRDA)

Request for Proposal for
Appointment of Chartered Accountant/Cost Accountants Firm
as Internal Auditor
of PFRDA for the F.Y.2021-22

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

1. INTRODUCTION

a. The Pension Fund Regulatory and Development Authority (PFRDA) was established by the Government of India on 10th October, 2003 to promote old age income security by establishing, developing and regulating funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto, through National Pension System (NPS). The Central Government has introduced the National Pension System (NPS) with effect from 1st January 2004. The NPS covers, at present, new entrants to the Central Government services (excluding Armed Forces), some State Government services and autonomous bodies at their discretion and all citizens of India on a voluntary basis with effect from 1st May 2009. PFRDA has since been constituted under the provisions of the PFRDA Act 2013 w.e.f. 1st February, 2014. The website of PFRDA is www.pfrda.org.in.

Internal Auditor Meaning Auditing Words And Inspectors

b. The PFRDA with its Head Office located at B-14/A, Chatrapati Shivaji Bhawan, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016, seeks to appoint a Chartered Accountant (CA) firm/Cost Accountants firm (hereinafter also referred to as “Service Provider”) as its Internal Auditor for the financial year 2021-22 as per the scope of the work defined in the later part of the present tender document. The initial period of the contract shall be one (1) year, which may be further extended beyond the initial period, subject to the requirement and decision of the PFRDA, or may even be terminated before the specified period of one year, on the ground, including but not limited to, PFRDA not being satisfied with the performance of such firm.

c. Key Activities and Dates relating to the present “Request for proposal for Appointment of Chartered Accountant/Cost Accountants firm as Internal Auditor of PFRDA for the F.Y.2021-22” (RFP/ Tender Document) are cited as under:

S.no Key Activities Date*
1 Date of Issue of RFP 27.09.2021
2 Last date of receiving queries from bidders 05.10.2021
3 Pre-Bid meeting 11.10.2021 at 1100 Hrs
4 Last date and time for submission of proposals 20.10.2021 at 1500 Hrs
5 Date and time for opening of Technical Bids 20.10.2021 at 1600 Hrs
6 Date and time for opening of Financial Bids of eligible bidders 28.10.2021 at 1700 hrs
7 Issuance of Letter of Award and Contract finalization After approval by the
competent authority

*PFRDA reserves the right to change any date/time mentioned in the schedule above under

2. General Terms & Conditions and Disclaimers

a. The Bidder is required to submit two separate sealed envelopes, first super scribed with “Compliance with eligibility criteria” as laid down in Annexure I & II (along with the EMD amount), and the second envelope containing financial bid super scribed with “Financial Bid for Appointment of Chartered Accountant/Cost Accountants firm as Internal Auditor of PFRDA for the F.Y.2021-21”. The financial bid, inclusive of all Taxes, etc., should be submitted as per the format given in Annexure III. Both the sealed envelopes should be kept in a third sealed envelope super scribing “Request for proposal for Appointment of Chartered Accountant/Cost Accountants firm as Internal Auditor of PFRDA for the F.Y.2021-22”. Bids received in any manner other than as prescribed above, shall be liable to be rejected summarily and the decision of PFRDA shall be final and binding.

b. The bid in the above-mentioned sealed envelope should be submitted on or before 20.10.2021 upto 1500 Hrs at the following address;

The General Manager
Finance & Accounts
Pension Fund Regulatory and Development Authority
B-14/A, Chhatrapati Shivaji Bhawan,
Qutab Institutional Area,
Katwaria Sarai
New Delhi -110016.
Telephone No. :011-26517501

c. The Earnest Money Deposit (EMD) of Rs.10,000 (Rupees Ten Thousand Only), refundable (without interest), shall be necessarily accompanied with the “Compliance with eligibility criteria” (Technical Bid) Envelope in the form of Demand Draft / Pay Order drawn in favour of Pension Fund Regulatory and Development Authority, payable at New Delhi.

i. In the event of non- submission of the EMD/bid-security money, the bid/proposal shall be summarily rejected.

ii. No interest shall be payable on the EMD/bid-security amount.

iii. The EMD/bid-security amount shall be forfeited if upon being declared successful, the Bidder fails to sign the Agreement with PFRDA for provision of the services as sought in the RFP, subsequent to its bid being accepted/ selected.

iv. The EMD/bid-security shall be refunded to the unsuccessful bidders only after completion of the entire RFP process.

v. The EMD/bid-security of the successful bidder shall be refunded upon submission of the Performance Security Deposit, as provided hereunder.

d. The successful bidder shall deposit a Performance Security Deposit @10% of the value at which the contract is finally awarded to the CA firm appointed by PFRDA. The security deposit shall be in the form of Bank Guarantee/Fixed Deposit Receipt from any Nationalized Bank drawn in favour of Pension Fund Regulatory and Development Authority, New Delhi, having a validity of three months beyond the initial period of the contract. In case, the contract is further extended beyond the initial period, the Bank Guarantee/ Fixed Deposit Receipt shall be accordingly renewed by the successful bidder at its own cost.

e. Conditional bids shall not be considered and shall be summarily rejected at the very first instance, without providing any recourse to the bidder, in which event, the decision of PFRDA shall be final and binding.

f. The Competent Authority of the PFRDA reserves the right to annul all the bids received and cancel the selection process for Internal Auditor, at any time prior to signing of the contract or discontinue this tender process, without assigning any reason, in which event, the decision of PFRDA shall be final and binding.

g. The CA firms engaged with the PFRDA during the FY 20-21 as Tax Consultants, Internal Auditor and providing the services of Accounting, shall not be eligible for applying under the present RFP.

h. This document does not constitute nor should it be interpreted as an offer or invitation for appointment.

i. Prospective bidders are advised to go through the complete tender document and annexure(s) thereto, including the terms and conditions thereof, carefully before applying and understand the eligibility conditions etc. The bid once submitted shall not be ordinarily permitted to be withdrawn, after the closing date of submission of bids, which shall be at the sole discretion of PFRDA.

j. No binding legal relationship of any nature, shall exist between any of the bidder and PFRDA until execution of a contractual agreement.

k. A bidder shall, by responding to PFRDA under the present RFP, be deemed to have accepted all the terms and conditions of this document. The terms of engagement shall be in accordance with the contract to be entered with the successful bidder.

l. All entries/ details in the tender form shall be legible and filled clearly. No overwriting or cutting is permitted in the Financial Bid Form. In such cases, the Bid shall be summarily rejected.

m. This document is meant to provide information only and upon the express undertaking that recipients shall use it only for the purposes set above. No representation or warranty, expressed or implied, is or shall be made as to the reliability or accuracy of any of the information contained herein, nor shall it create any liability or responsibility on PFRDA or any of its officers. It does not purport to be all inclusive of the information regarding the services to be provided or to be the basis of the contract. It shall not be assumed that there shall be no deviation or change in any of the information mentioned hereunder on roles and responsibilities of the service provider. While this document has been prepared in good faith, neither PFRDA, nor any of its officers make any representation or warranty or shall have any responsibility or liability whatsoever, in respect of any statements or omissions made herein. Any liability or responsibility is accordingly and expressly disclaimed by PFRDA and its officers, even if any loss, harm or damage is caused by any act or omission on the part of PFRDA or any of its officers, whether negligent or otherwise, in respect of the present tender document.

n. By acceptance of this document, the recipient agrees that any information herewith contained, shall be superseded by any subsequent written information/ circular on the same subject, made available to the recipient(s), with access to any additional information or update to this document or to correct any inaccuracies herein which may become apparent.

o. PFRDA reserves the right, at any time and without advance notice, to change the procedure for selection of the service provider, at its sole discretion. Accordingly, the interested recipients shall carry out an independent assessment and analysis of the requirements of the information, facts and observations contained herein.

p. This document has not been filed, registered or approved in any jurisdiction. Recipients of this document shall be responsible to inform themselves of and observe any applicable legal requirement.

q. This document constitutes no form of commitment on the part of PFRDA. Furthermore, this document neither confers the right nor any expectation on any party whatsoever, to participate in the tender process. The bidder shall be responsible for all acts incurred or omissions made in connection with participation in this process. This tender does not bind PFRDA to award a contract or to engage in negotiations. However, the bidders’ participation in this process may result in PFRDA selecting the bidder to engage in further discussions and negotiations towards execution of a contract. The commencement of such negotiations shall not, however signify a commitment by PFRDA to execute a contract or to continue the negotiations with that bidder. The PFRDA reserves its right to terminate such negotiations at any time without assigning any reason.

r. PFRDA further reserves the right to vary/alter/amend the eligibility criteria for selection of the Chartered Accountant firm/Cost Accountants firm under the present RFP, at any time, at its sole discretion, before the last date of submission of proposals/ bids.

s. The appointed Chartered Accountant firm/Cost Accountants firm shall accept to comply with and abide by such instructions and directions that PFRDA may issue from time to time.

t. The proposal/bid and all correspondence and documents shall be written in English. All proposals and accompanying documents received within the stipulated times shall become the property of PFRDA and shall not be returned in any event whatsoever.

u. The proposal/ bid shall be valid for a period of three months from the date of opening of proposals. A proposal/ bid valid for a shorter period may be rejected by PFRDA as non­responsive. In exceptional circumstances or justified reasons, PFRDA may at its discretion, grant consent for an extension of the validity period. The request and responses shall be in writing.

v. Once PFRDA notifies to the successful bidder that its proposal has been accepted, PFRDA shall enter into separate agreement with the successful bidder, and the terms and conditions of provision of services etc. shall be specified therein.

w. The selected bidder shall be liable to maintain secrecy and confidentiality of all the information / data / operations, etc. of PFRDA and in relation to the work undertaken by it.

x. Any form of canvassing / lobbying / influence / query regarding short listing, status, etc. under the present RFP, shall be a direct disqualification from the selection process.

y. The person(s) signing the bid documents shall preferably append their initials on all pages of the bid.

z. Governing Laws/Jurisdiction/Arbitration: Any dispute/ difference in relation to the process for selection of the Chartered Accountant firm/Cost Accountants firm under this document shall be subject to the exclusive jurisdiction of courts at New Delhi only. Any dispute arising post the award of the contract shall be settled in accordance with the terms mentioned therein.

3. Broad Scope of Work

3.1 The selected firm would broadly have the scope of work as under:

a. To review that accounting entries are in accordance with the Accounting Standards and the Pension Fund Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2015 under the PFRDA Act, 2013.

b. To review that expenses are properly authorized along with all supporting vouchers and approvals, and any expenditure incurred without proper approvals or supporting vouchers, shall be reported and rectified immediately.

c. To verify and report that Annual Statement of Accounts of PFRDA are in accordance with the books of accounts and the same are factually correct and free from any error.

d. To review internal controls and accounting policies, Procedures and the orders issued by Authority from time to time.

e. To check that the internal controls are in place, to ensure that purchases and revenue payments are properly approved, for bona fide purposes, and are accurately classified and recorded.

f. Verification of Heads of Accounts of various transactions recorded in the books of accounts and to check that no unauthorized head of account is operated.

g. To periodically review all accounts records without any deviation.

h. To verify and comment that the information generated from the books of accounts is accurate, complete, secure and readily available to support authority’s decisions.

i. To check that Cash Book, Stock and Stores Records, Log Book and other accounting records are properly maintained.

3.2. Receipts

a. To review that all money due to the Authority is received, correctly identified, properly and completely recorded and promptly banked on the same day or the next day.

b. To verify the interest accrued and received on the funds parked, in the form of FDR(s) or in any other form with various banks, has been correctly calculated and is properly accounted for.

c. To review any payments received by the authority and later on dishonored, through bank reconciliation.

3.3. Fixed Assets

a. To review the policies of the Authority for the control and proper utilization of all the fixed assets and their entries in the books of accounts.

b. To conduct physical verification of the fixed assets and submit the physical verification report.

c. To verify the method of charging Depreciation being followed by the Authority and the Provision for Depreciation, at year end.

d. Checking of procedures with regard to disposal of assets, to ensure that adequate procedure exists for scrapping, condemning etc. and the same is followed by the Authority.

3.4. Treasury and fund management

a. To review the status and pending items of bank reconciliations.

b. To review the idle funds, if any, and reasons thereof.

c. Advice the Authority to achieve better revenue/savings of cost.

3.5. Statutory Requirements

a. Tax Deduction at Source under the Income Tax Act,1961.

i. To review that the Authority is regular in deducting and depositing tax on various payments like salaries, consultation fees, professional fees, payments for contract of engage mentors etc.

ii. To review that the Authority is issuing TDS certificates in correct form and in prescribed time.

iii. To ensure submission of TDS returns/Revised Returns, if any, with the department in time.

iv. To check that Income Tax has been calculated correctly.

b. Tax Deduction at Source under the GST as per GST Act, 2017.

i. To review that the Authority is regular in deducting and depositing tax on various payments, consultation fees, professional fees, payments for contract of engage mentors etc.

ii. To ensure the submission of TDS GST returns/Revised Returns, if any, with the department in time.

iii. To check that TDS under GST has been calculated correctly.

3.6. Other Assets and liabilities

a. To review various loans and advances made by the Authority and timely recovery of the same.

b. Staff advances- To comment/ report on the regular and timely clearance of staff advance.

c. To review current liabilities and also provisioning of various liabilities.

3.7. Ledger Scrutiny

a. To conduct a quick ledger scrutiny and give comments on that.

b. To verify that all the accounting entries with respect to income, expenses, banks, journals, cash etc. are incorporated in the books of accounts.

c. Scrutiny of advances outstanding, Security Deposits and Sundry Creditors and Debtors. 3.8 Internal Audit Report

a. To verify that the proper audit trail is maintained for the period and all supporting documents and authorizations are available.

b. To conduct the internal audit on half yearly basis and to submit the internal audit report within two months from the close of the related period.

4. Selection Criteria

4.1 Eligibility Criteria: (To be submitted as per Annexure I and II)

a. The applicant entity should be a registered partnership firm or a limited liability partnership firm providing Management Consultancy and other services permitted by the ICAI.

b. The applicant entity should have been registered with ICAI and should have atleast ten years track record of continuous operations as on 31.03.2021.

c. Audit entity should have a minimum of six partners out of which,

(i) Any four partners must have an audit experience of at least five years,

(ii) Any two partners must have been in practice in an audit entity (not necessarily the applicant entity) for at least ten years,

(iii) Any two partners must have been with the applicant firm for a continuous period of at least five years,

(iv) Any one partner of the entity or the designated partner (LLP) must be a Fellow member of ‘The Institute of Chartered Accountants of India’ (ICAI) and should have been in continuous practice for at least five years after enrolment as Fellow Chartered Accountant (FCA).

d. During the last five years (upto 31st March 2021), the entity should have an experience of Accounting/Internal Audit related work of at least five (5) Central Autonomous Bodies.

The Applicant entity is also expected to have knowledge of unbundled architecture of the National Pension System.

e. At least one partner or paid Chartered Accountant of the applicant entity should have CISA/DISA or any other equivalent qualification.

f. The applicant entity should be empaneled with the Comptroller and Auditor General of India (C&AG) for the F.Y. 2021-22.

g. The applicant entity should not have been banned/declared ineligible for corrupt and fraudulent practices by the Govt. of India/State Govt/ICAI/C&AG/any financial sector regulator and should not have any disciplinary proceedings pending against it or any of its partners with ICAI/ C&AG/any financial sector regulator.

h. The applicant entity should not have turnover (on receipt/cash basis) from professional services of less than Rupees Three Crores (Rs. 3,00,00,000/-) for each of the last 3 financial years.

i. The applicant entity should have an office/branch in New Delhi or the National Capital Region.

j. The eligibility criteria must be duly satisfied by the applicant entity on the date of submission of the bid and not later.

4.2 Selection Process

This RFP shall be assessed on the basis of selection process in following two phases:-

Phase 1 – Pre-Qualification based on Eligibility Criteria
Phase 2 – Financial evaluation

After the expiry of last date for submission of bids, the bid envelope containing the “Compliance with the Eligibility Criteria” and “Financial Bid” in respect of all the bidders, shall be opened as per the dates and time specified in the tender document. However, the financial bid shall be considered only in respect of those firms which satisfy the eligibility criteria as on the date of submission of bid. The contract shall be awarded to the firm satisfying all the conditions as laid down under the eligibility criteria and submitting the lowest financial bid (inclusive of taxes), and the decision of PFRDA in respect thereto, shall be final and binding on all bidders.

4.3 Pre Bid Meeting

A prospective bidder requiring any clarification on the RFP document(s) may notify PFRDA in writing at the address indicated in this RFP. The format for the same is prescribed at Annexure V (MS Word only). The same shall also be mailed to [email protected] All queries and clarifications must reach PFRDA latest by the date and time as specified in the Section 1(c) of this RFP herein above.

PFRDA, at its sole discretion, would endeavor to provide clarifications to the bidders in the pre-bid meeting only, and shall not entertain or respond to any query or clarification received after the pre-bid meeting.

The bidders’ authorized representatives are invited to attend the Pre-bid meeting at their own cost, which would take place at the venue mentioned below and at the time as stipulated in this RFP. The maximum number of authorized representatives for each bidder shall not be more than two.

Venue:

Pension Fund Regulatory and Development Authority
2nd Floor, Chhatrapati Shivaji Bhawan
B-14/A, Qutab Institutional Area,
Katwaria Sarai, New Delhi – 110016

5. Guidelines & Instructions

a. Letters and Declaration to Accompany Tenders

The bid must be accompanied by a letter on firm’s letter head showing the full registered name(s) and registered office address of the bidder. It should be signed by a person of suitable authority to commit the bidders to a binding contract.

b. Conflict of Interest

Bidders must disclose in their bid, details of any circumstances, including personal, financial and business activities that will, or might, give rise to a conflict of interest. Where bidders identify any potential conflicts they should state how they intend to avoid such conflicts. PFRDA reserves the right to reject any bid which, in PFRDA’s opinion, gives rise, or could potentially give rise to, a conflict of interest, including on account of association with any intermediaries registered with PFRDA.

c. Payment

For carrying out the said assignment, the fee is payable to the firm on annual basis on submission of appropriate bill and fulfillment of relevant terms and conditions as mentioned in the tender document, as also in the contract. In event of non-submission of the bill or failure of the successful bidder to fulfil relevant terms and conditions, the Authority may pay nil or a lower fee and the decision of the Authority in regard thereto, shall be final and binding.

d. Undertaking from the firm that: (Refer Annexure IV)

(i) There has not been any disciplinary action initiated or contemplated or pending/suspension of practice against the entity or debarment from conducting any activity, by ICAI/RBI/C&AG or other financial sector regulator /statutory authority during the last five years.

(ii) None of the partners/employees of the firm have been convicted of any offence involving moral turpitude or has been found guilty of any economic offence.

(iii) No appeal/unresolved dispute/suit/case/application has been pending at any court of law/ Tribunal in India regarding the existence of the business/ right to carry on practice of the firm or any of its partners/directors.

e. Indemnity

The successful bidder shall exercise reasonable skill, care and diligence in the performance of the assignment and indemnify and keep PFRDA, its members, officers, directors, employees etc., indemnified at all times in respect of any loss, damage, harm or claim whatsoever, arising out of or related to any breach of contract, violation of any law/rule, breach of statutory duty or negligence by the firm or by its staff, employees, agents or sub­contractors, in relation to the performance or otherwise of the Services to be provided under the present RFP and Contract thereto.

f. Assigning to Others

The successful bidder shall not, without the prior written consent of PFRDA, assign or transfer or cause to be assigned or transferred, whether actually or as the result of takeover, merger or other change of identity or character of the successful bidders, any of its rights or obligations under present RFP and Contract thereto or any part, share or interest therein. Upon any such assignment or transfer, this engagement may forthwith be terminated by PFRDA.

g. Termination

PFRDA may, at its sole discretion and at any time, terminate the Contract with the successful bidder/ firm by giving a month’s notice, and inform the firm of PFRDA’s decision by written instructions to that effect. Termination could also take place on such breaches as may be specified in the Contract. In the event of the Contract being so terminated, the firm shall take such steps as are necessary to bring the Services to an end, in a cost effective, timely and orderly manner, without making any claim of whatsoever nature, against PFRDA or any of its officers, employees, directors etc.

S.N Requirements Documents to be submitted Page.
No. of
the
proposal
1 The applicant entity should be a registered partnership or a limited liability partnership
providing Management Consultancy & other services permitted by the ICAI.
Copy of Partnership Deed /registration as LLP along with Self- Attested copy of the
registration certificate issued by ICAI to the entity.
2 The applicant entity should have been registered with ICAI and should have at least ten years track record of continuous operations. Self-Declaration in the format given as per Annexure II
3 Applicant entity should have a minimum of six partners:

(i) Any four partners to have an audit experience of at least five years,

(ii) Any two partners should have been in practice in an audit entity for at least ten years,

(iii)Any two partners should have been with the applicant firm for a continuous period of at least five years,

(iv) Any one partner of the entity or the designated partner (LLP) shall be a Fellow member of ‘The Institute of Chartered
Accountants of India’
(ICAI) and should have been in continuous practice for at least five years after enrolment as FCA.

Self-Declaration in the format given as per Annexure II
4 During the last five years (upto 31st March 2021), the entity should have the experience of Accounting/Internal Audit related work of at least 5 Central Autonomous Bodies Applicant firm is also expected to have knowledge of unbundled architecture of
National Pension System.
Copies of agreements with the entities, along with the details to be filled in Annexure II.
5 At least one partner or paid Chartered Accountant of the applicant entity should have CISA/DISA or any other equivalent qualification. Self-Declaration in the format given as per Annexure II
6 The applicant entity should be empaneled with the Comptroller and Auditor General of India (C&AG) for the F.Y.2021-22. Self-attested copy of the certificate/ acknowledgement
issued by C&AG.
7 The applicant entity should not have been banned/declared ineligible for corrupt and
fraudulent practices by the Govt. of India/State Govt/ICAI/C&AG/any financial sector regulator and should not have any disciplinary proceedings pending against it or against any of the partners, with ICAI/ C&AG/any financial sector regulator
Self-Declaration in the format given as per Annexure IV
8 The applicant entity should not have turnover (on receipt/cash basis) from professional services, of less than Rupees three Crores (Rs. 3,00,00,000/-) for each of the last 3 financial years. Certificate from an independent Chartered Accountant certifying the turnover for F.Y.2018-19, F.Y. 2019-20 and F.Y. 2020-21.
9 The applicant entity should have an office/branch in New Delhi/National Capital Region. Self- Attested copy of Telephone bill/ Electricity Bill /Registered Lease Deed/ the Constitution
certificate issued by ICAI to the entity supporting the address in New Delhi or in National Capital Region.

(Page number should be clearly mentioned on each of the RFP documents to be submitted by the bidders. The reference of the same should be indicated on the column 3 of the above Annexure I and may also form a part of an Index of the proposal documents.)

Sr.N o.
Particulars
Details
1.
Name of the CA Firm
2.
Address of Head Office
Number of Branch Offices
3.
Constitution
4.
Date of Establishment
5.
Registration Number of the firm with ICAI
6.
Manpower (Nos)
A) Qualified Professionals:
(i) Partners ____
(ii) Others ____
B) Articles:_____
C) Partner/ Staff with DISA/ CISA qualification
7.
Brief profile of partners/CAs in the following manner
Name/ Qualificatio n
ICAI
Membership
/Date of
Certificate of Practice
Number of years of experienc
e in
conductin g audit
Whethe r DISA/ CISA
Name of
entity wherein partner has experience
of at least
10 years
Date of
joining
in the
applican t firm
Wh eth er FCA or AC
A
Date of
acquiring
FCA
designation
8.
Past Experience of Concurrent / Statutory /Internal Audit of Central Autonomous Bodies
Name of the Central
Autonomous Bodies
Nature of Assignment (Statutory/Concurrent/ Internal Audit)
Year of Assignment
No. of Staff Deployed

Signature of Authorised Person

Date

Place:

Name:

Designation along with Stamp

Annexure III Financial Bid

(For Appointment of Chartered Accountant Firm as Internal Auditor of PFRDA for the F.Y. 2021-22)

The Financial Bid shall contain the total cost for the proposed assignment with break-up of annual professional fees and GST. PFRDA shall not be providing for or reimbursing any expenditure incurred by the firm towards accommodation, local conveyance, air fare or train fare, halting expense, lodging, boarding, food etc. in connection with carrying out the assignment.

The format for the Financial Bid is given below:

S.N. Particulars Amount (in Rs.)
1 Annual Professional Fees (F.Y. 2021-22)
2 GST @          %
3 Total Fees (1+2)

Date Signature of Authorised Person

Place:

Name:

Designation along with Stamp

*(to be furnished on the letter head of the firm)

Annexure IV Self- Declaration

(to be furnished on the letter head of the firm)

General Manager
Finance & Accounts
Pension Fund Regulatory and Development Authority,
B-14/A, First Floor,
Qutab Insitutional Area, Katwaria Sarai,
New Delhi-110016

SUBJECT: APPLICATION FOR APPOINTMENT OF CHARTERED ACCOUNTANT FIRM AS INTERNAL AUDITOR OF PFRDA FOR THE F.Y. 2021-22

Dear Sir,

Please find enclosed the bid for consideration of our Chartered Accountant firm to be appointed as the Internal Auditor of Pension Fund Regulatory and Development Authority (PFRDA) for the F.Y. 2021-22.

We agree to undertake the assignments, if given by you, as per the scope of work laid down under the RFP dated _____. We hereby declare that our firm does not have any pecuniary liability or any claim/disciplinary proceeding /legal proceeding pending against us/ our partners/ our employees/ our agents or any other cause which could hamper our ability to render the services to PFRDA as envisaged. We further declared that:

i. There has not been any disciplinary action initiated or contemplated or pending /suspension of practice against our firm or debarment from conducting any activity by ICAI/RBI/C&AG or other financial sector regulator /statutory authority during the last five years

ii. None of the partners/employees have been convicted of any offence involving moral turpitude or has been found guilty of any economic offence.

iii. No appeal/unresolved dispute/suit/case/application has been pending at any court of law/ Tribunal in India regarding the existence of the business/ right to carry on practice of our firm or any of its partners/directors.

iv. If the aforesaid representation /declaration or any information contained in the Annexures is found to be incorrect, false of misleading, we agree that the PFRDA shall be entitled to terminate the Contract, if executed with our firm, or initiate suitable action as deemed fit and appropriate by the PFRDA, in accordance with law, without reference to us. We or our Affiliates have, during the last three years, neither failed to perform any agreement/ assignment, as evidenced by imposition of a penalty by an arbitral or a judicial pronouncement, or by an arbitration awarded against us or our Affiliates, nor have been expelled from any project or agreement, or had got any agreement terminated for breach by us or our Affiliates.

Signature of Authorised Person

Date

Place:

Name:

Designation along with Stamp

*List of Documents Enclosed

Annexure V: Request for Clarification

Bidder’s Request For Clarification
Name of Organization submitting request Name & position of person submitting request Address of organization including phone, fax, email points of contact
Tel:
Fax:
E-mail:
S. No. Bidding Document Reference (Number/page) Content of RFP requiring clarification Points of Clarification required
1
2
3

******

Date: 05.10.2021

To

All prospective bidders

CORRIGENDUM-I

Subject . Corrigendum related to Request for Proposal for Appointment of Chartered Accountant Firm as Internal Auditor of PFRDA for the F.Y.2021-22

Tender ID – 2021PFRDA6260011:

The following corrigendum are made to the above tender:

1. Cost Accountants firms are also eligible to apply in the above-mentioned

2. The word “Chartered Accountant” in the said RFP is replaced by ‘Chartered Accountants’ / ‘Cost Accountants’.

3. All other terms and conditions including the last date and time for submission of the proposals of the said RFP shall remain the same.

Ashish Bharati
General Manager
PFRDA

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