heads of the companies cited above the rationale for the provision according to finance ministry officials is that for private sector subscribers the date of joining service and the date of their joining the nps might have been different as the scheme was not open to nongovernment employees before 2009 this is not the only area of concern for private firms as far as retirement savings of employees are concerned as around 300odd firms who manage their employees provident fund savings inhouse through pf trusts could come under the income tax net this year as they have failed to secure an exemption licence from the epfo mandated by former finance minister p chidambaram in the finance bill of 2006 the budget has provided no extension for the deadline to get such licences that was extended annually in the past eight years and had lapsed in march 2014