Pension Fund Regulatory and Development Authority (PFRDA), established by the Government of India in 2003, oversees and regulates pension funds under the National Pension System (NPS). The authority, headquartered in New Delhi, is seeking to appoint a Chartered Accountant or Cost Accountant firm for accounting and tax consultancy services for the period from August 2024 to July 2025. This appointment aims to ensure accurate financial management and compliance with tax laws. The selected firm will be responsible for maintaining daily accounting entries, preparing financial statements, and assisting in audits. Additionally, they will handle tax-related issues, including direct and indirect taxes, TDS returns, compliance with GST regulations, and providing advisory services on tax matters. The appointment process involves a stringent schedule, starting with the issuance of the Request for Proposal (RFP) on July 5, 2024, and concluding with the opening of financial bids on July 30, 2024. The chosen firm must adhere to strict submission guidelines, including the provision of an Earnest Money Deposit (EMD) and compliance with eligibility criteria outlined in the RFP. PFRDA reserves the right to annul bids or terminate the contract based on performance, ensuring the highest standards of financial governance and regulatory compliance in its operations.
PENSION FUND REGULATORY & DEVELOPMENT AUTHORITY (PFRDA)
Request for Proposal for Appointment of Chartered Accountant/ Cost Accountant Firm for Accounting Work and as Tax consultant to PFRDA for the period Aug 2024 to July 2025
Page Contents
1. INTRODUCTION
a. 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 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.
b. The PFRDA with its Head Office located at E-500, Tower E, Fifth Floor, World Trade Center, Nauroji Nagar, New Delhi-110029, seeks to appoint a Chartered Accountant/ Cost Accountant firm for accounting work as mentioned in the Scope of Work and as tax consultant to Pension Fund Regulatory & Development Authority (PFRDA), for taxation related issues having experience in direct and indirect tax, as per the scope of the work defined in the later part of the tender document. The initial period of the contract shall be one year which may be further extended beyond the initial period of one year, subject to requirement of the PFRDA or may be curtailed/ terminated before the specified period, including on the ground of PFRDA, not being satisfied with the performance of such firm.
c. Key activities and dates relating to “Tender for Appointment of Chartered Accountant/ Cost Accountant firm for Accounting Work and as Tax consultant to
PFRDA for the period Aug’24 to Jul’25” are cited as under:
| S. No. | Key Activities | Date* |
| 1. | Issuance of Request For Proposal (RFP) | 05th July 2024 |
| 2. | Last date of receiving queries from bidders | 12th July 2024 |
| 3. | Pre-Bid Meeting | 16th July 2024, 3.00 PM |
| 4. | Last date and time for submission of proposals | 26th July 2024, 3.00 PM |
| 5. | Date and time for opening of Technical Bids | 26th July 2024 4.00 PM |
| 6. | Date and time for opening of Financial Bids of eligible bidders | 30th July 2024, 3.00 PM |
| 7. | Issuance of Letter of Award and Contract finalization | After approval of the competent authority |
* PFRDA reserves the right to change any date/time mentioned in the schedule above under intimation to all concerned.
2. General Terms & Conditions and Disclaimers
a. The Bidder is required to submit two separate sealed envelopes super scribed “Compliance with eligibility criteria” as laid down in Annexure I & II (along with the EMD amount) and second envelope containing financial bid super scribed “Financial Bid for Appointment of Chartered Accountant/ Cost Accountant firm for Accounting Work and as Tax Consultant to PFRDA for the period Aug’24 to Jul’25”. The financial bid inclusive of Taxes, etc., should be submitted as per format given in Annexure III. Both sealed envelopes should be kept in a third sealed envelope super scribing “Tender for Appointment of Chartered Accountant/ Cost Accountant firm for Accounting Work and as Tax Consultant to PFRDA for the period Aug’24 to Jul’25”. Bids received in any manner other than as prescribed above shall be liable to be rejected summarily.
b. The bid in the above mentioned sealed envelope should be submitted on or before 26th July 2024 upto 1500 Hrs at the following address;
General Manager
Finance & Accounts
Pension Fund Regulatory and Development Authority
E-500, Tower E, Fifth Floor
World Trade Center, Nauroji Nagar
New Delhi -110029.
Telephone No. :011-40717900
c. The Earnest Money Deposit (EMD) of Rs.10,000 (Rupees Ten Thousand Only), refundable (without interest), should 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 will be summarily rejected.
ii. No interest will be payable on the EMD/Bid Security amount.
iii. The EMD/bid security amount will be forfeited if upon being declared successful the Bidder fails to sign the agreement with PFRDA for provision of services as sought in the RFP, subsequent to its selection bid being accepted, the EMD is liable to be forfeited.
iv. The EMD/Bid Security will be refunded to the unsuccessful bidders only after completion of the entire RFP process.
v. The EMD/Bid security of the successful bidder would be refunded upon submission of Performance Security Deposit.
vi. EMD exemption is available under MSE category. The bidder seeking EMD exemption, must submit the valid supporting document i.e. MSE certificate, for the relevant category.
d. The successful bidder will have to deposit a Performance Security Deposit @10% of the value at which the contract is finally awarded to the 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 period of contract. In case, the contract is further extended beyond the initial period, the Bank Guarantee/ Fixed Deposit Receipt will have to be accordingly renewed by the successful bidder at its own cost.
e. The conditional bids shall not be considered and will be summarily rejected in very first instance without any recourse to the bidder.
f. The CA Firm associated with PFRDA in the capacity of Internal Auditor or Concurrent Auditor of the accounts of PFRDA during FY 2023-24 shall not be eligible for applying.
g. The Competent Authority of the PFRDA reserves the right to annul all bids and cancel the selection process at any time prior to signing of contract or discontinue this tender process, without assigning any reason.
h. This document does not constitute nor should it be interpreted as an offer or invitation for the appointment.
i. Prospective Bidders are advised to go through the complete tender documents including terms and conditions 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 will exist between any of the bidder and PFRDA until execution of a contractual agreement.
k. A bidder will, by responding to PFRDA for RFP, be deemed to have accepted the terms of this document. The terms of engagement shall be in accordance with the contract to be entered with successful bidder.
l. All entries in the tender form should be legible and filled clearly. No overwriting or cutting is permitted in the Financial Bid Form. In such cases, the tender shall be summarily rejected.
m. This document is meant to provide information only and upon the express undertaking that recipients will use it only for the purposes set above. No representation or warranty, expressed or implied is or will be made as to the reliability, accuracy of the competence of any of the information contained herein. It does not purport to be all inclusive of contain all the information regarding the service to be provided or be the basis of the contract. It shall not be assumed that there shall be no deviation or change in any of the herein mentioned information on roles and responsibilities of 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 receipt of any statements or omissions made herein Any liability is accordingly and expressly disclaimed by PFRDA and any of their officers even if any loss or damage is caused by any act or omission on the part of PFRDA or any of their officers, whether negligent or otherwise.
n. By acceptance of this document, the recipient agrees that any information herewith will be superseded by any subsequent written information on the same subject made available to the recipient with access to any additional information or to update this document or to correct any inaccuracies therein which may become apparent.
o. PFRDA reserves the right, at any time and without advance notice, to change the procedure for the selection of service provider. Accordingly, interested recipients should carry out an independent assessment and analysis of the requirement of the information, facts and observation contained therein.
p. This document has not been filed, registered or approved in any jurisdiction. Recipients of this document should inform themselves or and observe any applicable legal requirement.
q. This document constitutes no form of commitment on the part of PFRDA. Furthermore, this document confers neither the right nor any expectation on any party to participate in the tender process. The bidder is responsible for all acts incurred in connection with participation in this process. This tender does not commit the PFRDA to award a contract or to engage in negotiations. The bidders participations 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 does not, however signify a commitment by PFRDA to execute a contract or to continue negotiations. The PFRDA may terminate negotiations at any time without assigning any reason.
r. PFRDA reserves the right to vary/alter/amend the eligibility criteria for the Chartered Accountant/ Cost Accountant firm at any time, in its discretion, before the last date of submission of proposals.
s. The appointed Chartered Accountant/ Cost Accountant firm shall comply with and abide by such instructions and directions that PFRDA may issue from time to time.
t. The proposal 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 will not be returned.
u. The proposal shall be valid for a period of three months from the date of opening of proposals. A proposal valid for a shorter period may be rejected as non-responsive. In exceptional circumstances, at its discretion, PFRDA may grant consent for an extension of the validity period. The request and responses shall be in writing.
v. Once the PFRDA notifies 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 provisions of service etc. shall be specified therein.
w. The respondent 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 will be a disqualification.
y. The person(s) signing the bid documents shall preferably initial all pages of the bid.
z. Governing Laws/Jurisdiction/Arbitration: Any dispute in relation to the process of selection of the Chartered Accountant firm under this process shall be subject to the exclusive jurisdiction of courts at New Delhi only. Any dispute arising post the award of 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. Accounting Work:
a. Carrying out accounting entries/work in the Tally or any other accounting software used by the Authority on a daily basis. The selected entity shall deploy one personnel at the office for verification of the vouchers and making entries into the Tally or any other accounting software.
b. Preparation and finalization of books of Accounts and timely preparation of Financial Statements within a period of 20 days from the end of the financial year. Further, Financial Statements on a half yearly basis also needs to be submitted within 30 days from the end of half year. The financial statements have to be prepared in strict compliance with the Pension Fund Regulatory and Development Authority (Form of Annual Statement of Accounts and Records) Rules, 2015 and amendment Rule 2022 made under the PFRDA Act, 2013 and should comply with Indian Generally Accepted Accounting Principles and necessary disclosures. This shall include recasting of the previous years` financial statements, if there is any change in the methods/rules/policy for preparation of financial statements. At the end of the Financial year, while submitting the final Annual accounts, the entity shall furnish a certificate stating that the financial statements are factually correct and free of any error.
c. Assistance in closure of year- end activities, i.e., provisioning under various heads of accounts, Depreciation, Gratuity, Leave encashment, etc. in accordance with mentioned Financial Reporting Framework.
d. Verification of the books of accounts involving Ledger Scrutiny, verification of bills and supporting vouchers, preparation of schedules of items, etc., on monthly basis and submission thereof within 15 days from the end of respective month.
e. Preparation and maintenance of Fixed Asset Register in excel file/ accounting software along with calculation of depreciation etc.
f. Assist and co-ordinate at the time of conduct of Audit i.e., Internal audit, C&AG audit etc.
g. Assist in resolving audit paras (if any) during the course of audit as mentioned above in para (f).
h. To update PFRDA regarding any amendments taking place in laws/rules/ regulations applicable to PFRDA with respect to the preparation & finalization of books of accounts.
i. Upon being called, attend the Board meeting of the Authority with respect to the accounts/tax related agenda.
j. Preparation of bank reconciliation statement for all the bank accounts of PFRDA on monthly basis.
k. Any other related work.
The applicant firm shall deploy a dedicated visiting team of experienced persons which shall invariably include at least one partner of the applicant firm.
B. As Tax consultant –
The selected firm would advise PFRDA on all the taxation related issues, as and when required, by PFRDA in the following areas;
I. DIRECT TAXES –
a. The Consultant shall be primarily responsible for preparing / checking / scrutinizing/ filing TDS return (including revised return(s), if required), Issuance of TDS certificates (Form 16 and Form 16 A), advising/updating PFRDA on compliance requirements under direct tax laws applicable to PFRDA, filing of appeals, preparation of documents required to be filed with various tax authorities, etc. The returns/issuance of certificates, etc., are to be done within the stipulated time period to avoid any levy of penalty on PFRDA.
b. Attending to all notice/letters, assessments/ appeals before income tax authorities/appellate authorities. Regular follow up with the Tax Authorities for tax related matters.
c. Advising on issues related to tax deducted at Source any other Tax related issues, including queries on tax matters, as referred to by PFRDA, including queries arising out of tax provisions applicable for NPS/APY or any other pension scheme regulated by the Authority, which are directed to PFRDA by general public/ subscribers/nodal offices.
d. Replying to demands/intimations received by the Authority on tax related matters.
e. Advising on accounting issues, suggesting improvement in systems, procedures and accounting records with respect to Taxation and compliance etc.
f. To update PFRDA about various amendments taking place in tax laws/ rules, regulations, circulars, directions, etc. from time to time.
g. To verify the 206AB compliance of the parties related to PFRDA and update the same.
g. Any other tax matters as may be referred by PFRDA
II. INDIRECT TAXES –
a. To provide opinion to PFRDA on valuation and taxability of various income streams (interest, service charges, fees and commission, etc.) and import and export of services, on availment, utilisation and reversal of GST credit / Input credit on various input services utilized / inputs / capital goods purchased by the PFRDA, in respect of accounting of various taxes (including but not limited to output and input services) in consultation with the auditors of the PFRDA as per GST provisions applicable to PFRDA.
b. Providing opinions/ comments/ clarifications on various tax issues raised (including planning, compliance and procedural aspects within the laid down rules) arising thereto from time to time.
c. Review of various circulars to be issued in respect of tax and related matters.
d. To advise various departments access points in complying with various taxes and the related regulations upon specific requests by PFRDA.
e. To review, advise the amendments/developments in Core Accounting System or any other software being used by the PFRDA from a tax compliance perspective.
f. To provide any other advice to the PFRDA on any other tax related issues sought by the PFRDA.
g. To provide verbal and written advice on all routine/procedural GST compliance issues upon specific request from the organization.
h. Advise as PFRDA undertakes classification of output services (HSN/SAC and Rate of tax).
i. Provide updates covering the latest developments in Central GST Laws/ GST Laws of the relevant States in terms of amendments in law, notifications, departmental circulars and trade notices.
j. Advisory and establishing GST processes for all GST receipts such as customer transactions.
k. To study the existing IT applications and verify the system of output from PFRDA’s IT system from GST perspective and advise on necessary changes required as and when changes in GST is announced. Also to check once necessary changes have been made based on the suggestions.
Tax compliances, Preparation, Filing and all related assistance for indirect taxes –
l. The Consultant shall be primarily responsible for preparing / checking / scrutinizing/ filing GST/ TDS under GST, (including revised return(s), if required), Issuance of TDS certificates (if applicable) & reconciling the data between GST portal and books of accounts on monthly basis.
m. To prepare and filing of all applicable GST and TDS under GST returns for the PFRDA i.e. GSTR-1 And GSTR-3B, Annual GST Return and GSTR-7 and all other returns as applicable on PFRDA from time to time basis.
n. To track 2A/2B entries and reconcile 2A/2B form on monthly basis and on cumulative basis and reconcile with the books of accounts and making necessary adjustments as per the GST provisions.
o. To Identify and report vendors of PFRDA who are not filling GST returns.
p. To generate tax invoice and E invoicing, if applicable.
q. To check veracity and correctness of data before filing of GST returns.
r. To review and suggest overall improvement in regulatory compliance, if considered necessary.
s. Advising on determination of Time of Supply, Place of Supply of Goods or Services or any other Rules with respect to GST of routine nature.
t. Advising on determination of Time of Supply, Place of Supply of Goods or Services or any other Rules when a new product is launched.
u. To assist the PFRDA in reconciliation of revenue/expenses as per books and returns and filing of the monthly/ quarterly / annual returns.
v. If required, their proprietary software for compliance purpose. Such software to be secured and subject to approval from IT Dept. of client.
Assessment Proceedings / Appeals under the GST law and Assistance in Appellate Proceedings – In case of eventuality of any such cases the appointed firm shall assist PFRDA in the following: –
a. Assistance in GST proceedings,
b. To represent before the competent authorities in connection with the assessment proceedings and related matters.
c. To assist in collation of documents/details etc. and preparation of various annexures etc. as may be required.
d. To appear before various Centre and State GST authorities and respond to the queries raised by the various Tax authorities
e. To draft replies to demand cum show cause notices received by the PFRDA from tax authorities.
f. Discussions with the management on proceedings initiated by Tax Authorities.
g. Assistance in drafting stay petitions, appeals etc. (involving inter-alia finalization of Grounds of Appeal, Statements of facts etc.) in the prescribed format for filing with the Appellate Authority and Goods and Services Tax Appellate Tribunal.
h. To represent PFRDA before the above-mentioned appellate authorities.
i. Briefing Counsels engaged by PFRDA in respect of matters before Appellate Authority / Appellate Tribunal / High Court / Supreme Court.
j. Briefing Counsels engaged by PFRDA for obtaining opinions on various matters.
k. Review the orders passed by the Assessing Officer/Appellate Authority /Appellate Tribunal /High Court/Supreme Court for this purpose and preparation of letters to the said authorities in response to the same.
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 & other services permitted by the ‘The Institute of Chartered Accountants of India’ (ICAI) or ‘ The Institute of Cost Accountants of India’ (ICAI) and engaged in providing services under direct & indirect tax laws for at least for a period of ten years as on 31.03.2024.
b. The applicant entity should have been registered with ‘ The Institute of Chartered Accountants of India’ (ICAI) or ‘ The Institute of Cost Accountants of India ’ (ICAI) and should have a ten years track record of continuous operations as on 31-March-2024.
c. Applicant should have a minimum of six partners out of which,
i. Any four partners to have tax relevant experience of five years,
ii. Any two partners to have been in practice in a CA firm (not necessarily the applicant entity) for ten years,
iii. Any Three partners to have been with the applicant firm for a continuous period of five years,
iv. Any three partner of the entity or the designated partner (LLP) shall be a Fellow member of ‘The Institute of Chartered Accountants of India’ (ICAI) or ‘ The Institute of Cost Accountants of India’ (ICAI) and should have been in continuous practice for five years after enrolment as Fellow Chartered Accountant (FCA) or Fellow Cost and Management Accountant (FCMA)
d. During the last five years (upto 31 st March 2024), the entity should have an experience of tax related/Accounting/Audit related work of any financial sector regulator.
e. Applicant entity is also expected to have knowledge of unbundled architecture of National Pension System.
f. At least one partner or paid Chartered Accountant/ Cost Accountant of the applicant entity should have CISA/DISA or any other equivalent qualification.
g. The applicant entity should be empaneled with the Comptroller and Auditor General of India (C&AG) for the F.Y.2024-25.
h. 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 the applicant firm or any of the partners with ICAI/ C&AG/any financial sector regulator.
i. The applicant entity should have turnover (on receipt/cash basis) from professional services of more than Rupees Five Crores for each of the following financial years i.e. FY 2020-21, FY 2021-22 and FY 2022-23.
j. The applicant entity should have an office/branch in New Delhi/National Capital Region.
k. The eligibility criteria has to be duly satisfied on the date of submission of bid and not later.
4.2 Selection Process
This RFP will 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 would be considered only in respect of those firms who satisfy the eligibility criteria. The contract shall be awarded to the firm satisfying all the conditions as laid down under 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 documents 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 fin.acts@pfrda.org.in . All queries and clarifications should reach PFRDA latest by the date and time as specified in the section 1(c) of this RFP.
PFRDA would provide clarifications to the bidders in the pre-bid meeting only. PFRDA will not entertain or respond to bidders’ queries and clarifications received after 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 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
E-500, Tower E, Fifth Floor
World Trade Center, Nauroji Nagar
New Delhi – 110029
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. The bid 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 quarterly basis (pro rata) on submission of 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 selected 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:
i. There has not been any disciplinary action initiated or contemplated/suspension of practice against the entity or debarment from conducting any activity by ICAI/RBI/C&AG or other regulatory /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 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 indemnified in respect of any loss, damage or claim howsoever arising out of or related to breach of contract, statutory duty or negligence by the firm or by its staff, agents or sub-contractors in relation to the performance or otherwise of the Services to be provided under the Contract.
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 Consultants, any of its rights or obligations under the Contract 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 by giving a month’s notice, and inform the firm of PFRDA’s decision by written instruction 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.
Annexure I – Eligibility Criteria
| S. No | Requirements | Documents to be submitted |
| 1 | The applicant entity should be a registered
partnership or a limited liability partnership providing Management Consultancy & other services permitted by the ‘The Institute of Chartered Accountants of India’ (ICAI) or ‘The Institute of Cost Accountants of India’ (ICAI) and engaged in providing services under direct and indirect tax laws. |
(i) Copy of Partnership Deed /
registration as LLP along with Self- Attested copy of the registration (constitution) certificate issued by ‘The Institute of Chartered Accountants of India’ (ICAI) or ‘ The Institute of Cost Accountants of India’ (ICAI) to the entity as on 31st March 2024. and (ii) Self-Declaration in the format given as per Annexure II |
| 2 | The applicant entity should have been registered with ‘The Institute of Chartered Accountants of India’ (ICAI) or ‘ The Institute of Cost Accountants of India’ (ICAI) and should have a ten years track record of continuous operations as on 31.03.2024. | |
| 3 | Applicant entity should have a minimum of six partners:
(i) Any four partners to have tax relevant experience of five years, (ii) Any two partners should have been in practice in a CA firm (can be other than then applicant firm) for ten years, (iii) Any three partners should have been with the applicant firm for a continuous period of five years, (iv) Any three partner of the entity or the designated partner (LLP) shall be a Fellow member of ‘The Institute of Chartered Accountants of India’ (ICAI) or ‘ The Institute of Cost Accountants of India’ (ICAI) and should have been in continuous practice for five years after enrolment as Fellow Chartered Accountant FCA or Fellow Cost and Management Accountant (FCMA). |
Self-Declaration in the format given as per Annexure II |
| 4 | During the last five years (upto 31 st March 2024), the entity should have an experience of tax related/Accounting/Audit related work of any financial sector regulator. Applicant firm is also expected to have knowledge of unbundled architecture of National Pension System. | Copies of agreements or appointment letter along with acceptance letter or Letter of satisfactory work from the entities along with the details to be filled in Annexure II. |
| 5 | At least one partner or paid Chartered Accountant/ Cost Accountant of the applicant entity should have CISA/DISA or any other equivalent qualification. | Self-Declaration in the format given asper Annexure II |
| 6 | The applicant entity should be empaneled with the Comptroller and Auditor General of India (C&AG) for the F.Y.2024-25. | 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 the applicant firm or 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 have turnover (on receipt/cash basis) from professional services of more than Rupees Five Crores for each of the following financial years, i.e. F.Y.2020-21, F.Y. 2021-22 and F.Y. 2022 – 23. | Certificate from an independent Chartered Accountant certifying the turnover for F.Y.2020-21, F.Y. 2021-22 and F.Y. 2022 -23. |
| 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.
Note: Telephone bill/electricity bill which has to be submit by applicant as address proof should be issued on or after 01.03.2024 |
Annexure II – Self Declaration
| Sr. No . | 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/ Qualifica tion |
ICAI Mem bership/D ate of Cert ificate of P ractice | Number of years of experi ence in t ax relate d and ac counting work | Wheth er DIS A/ CIS A | Name of e ntity wher ein partne r has exp erience of at least 10 years | Date of joining i n the a pplicant firm | Whet her F CA or FCM A | Date of ac quiring FC A/FCMA d esignation | |||||
| 8. | Past Experience of tax related/accounting work/ Audit of Financial Sector Regulator – | |||||||||||
| Name of the Financia l Regulator | Nature of Assignment (Tax related/ Accounti ng work/ Audit) | Year of Assignme nt | No. of Staff Depl oyed | |||||||||
Date
Place:
Signature of Authorised Person
Name:
Designation along with Stamp
Annexure III – Financial Bid
(For Appointment of Chartered Accountant/ Cost Accountant Firm for Accounting work and tax consultant of PFRDA for Aug’24 to Jul’25)
The Financial Bid should contain the total cost for the proposed assignment with break-up of annual professional fees and taxes. PFRDA would not be providing or reimbursing any expenditure towards accommodation, local conveyance, air fare or train fare, halting expense, lodging, boarding etc. in connection with carrying out of the assignment.
The format for the Financial Bid is given below:
| S.N. | Particulars | Amount (in Rs.) |
| 1 | Annual Professional Fees (Aug’24 to Jul’25) | |
| 2 | GST @ % | |
| 3 | Total Fees (inclusive of taxes). |
Date
Place:
Signature of Authorised Person
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
Dear Sir,
SUBJECT: APPLICATION FOR APPOINTMENT OF CHARTERED ACCOUNTANT/ COST ACCOUNTANT FIRM FOR ACCOUNTING WORK AND AS TAX CONSULTANT TO PFRDA FOR THE PERIOD AUG’24 to JUL’25
Please find enclosed the bid for consideration of our firm to be appointed for accounting work and as tax consultant to Pension Fund Regulatory and Development Authority (PFRDA) for the period Aug’24 to Jul’25.
We agree to undertake the assignments, if given by you, as per the scope of work. We hereby declare that our firm does not have any pecuniary liability or any claim/disciplinary/legal proceeding pending against us/ our partners or any other cause which could hamper our ability to render the services as envisaged. We further declared that:
i. There has not been any disciplinary action initiated or contemplated/suspension of practice against this 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 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 in India regarding the existence of the business/ right to carry on practice of this firm or any of its partners/directors.
If the aforesaid representation /declaration or information in the annexures is found to be incorrect, we agree that the PFRDA shall be entitled to terminate the agreement, if executed, or initiate suitable action as deemed fit and appropriate by the PFRDA, without reference to us. We or our affiliates have, during the last three years, neither failed to perform any agreement, as evidenced by imposition of a penalty by an arbitral or a judicial pronouncement or arbitration awarded against us or our Affiliates, nor has been expelled from any project or agreement nor had any agreement
terminated for breach by us or our affiliates.
Date
Place:
Signature of Authorised Person
Name:
Designation along with Stamp
List of Document 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 | |||
