SBI PENSION FUND SCHEME - CENTRAL GOVT - 25.869 as on 16-01-2018 || SBI PENSION FUND SCHEME - STATE GOVT - 22.2277 as on 16-01-2018 || SBI PENSION FUND SCHEME E - TIER I - 23.9539 as on 16-01-2018 || SBI PENSION FUND SCHEME C - TIER I - 24.4036 as on 16-01-2018 || SBI PENSION FUND SCHEME G - TIER I - 22.1813 as on 16-01-2018 || SBI PENSION FUND SCHEME E - TIER II - 22.0863 as on 16-01-2018 || SBI PENSION FUND SCHEME C - TIER II - 22.3433 as on 16-01-2018 || SBI PENSION FUND SCHEME G - TIER II - 21.1926 as on 16-01-2018 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.0047 as on 16-01-2018 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 16.4807 as on 16-01-2018 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.4691 as on 16-01-2018 || SBI PENSION FUND SCHEME A - TIER I - 10.9535 as on 16-01-2018 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 25.2011 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 22.4379 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.2958 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 22.0976 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 19.999 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 22.8882 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 21.1067 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.5063 as on 16-01-2018 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.9072 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 16-01-2018 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.8304 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.8257 as on 16-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 16-01-2018 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 25.2257 as on 16-01-2018 || LIC PENSION FUND SCHEME - STATE GOVT - 22.541 as on 16-01-2018 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.7654 as on 16-01-2018 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 16.578 as on 16-01-2018 || LIC PENSION FUND SCHEME E - TIER I - 18.6528 as on 16-01-2018 || LIC PENSION FUND SCHEME C - TIER I - 15.8189 as on 16-01-2018 || LIC PENSION FUND SCHEME G - TIER I - 15.9639 as on 16-01-2018 || LIC PENSION FUND SCHEME E - TIER II - 15.6067 as on 16-01-2018 || LIC PENSION FUND SCHEME C - TIER II - 14.8217 as on 16-01-2018 || LIC PENSION FUND SCHEME G - TIER II - 15.9043 as on 16-01-2018 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.7705 as on 16-01-2018 || LIC PENSION FUND SCHEME A - TIER I - 10.7845 as on 16-01-2018 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 16-01-2018 || KOTAK PENSION FUND SCHEME E - TIER I - 26.771 as on 16-01-2018 || KOTAK PENSION FUND SCHEME C - TIER I - 24.2321 as on 16-01-2018 || KOTAK PENSION FUND SCHEME G - TIER I - 20.402 as on 16-01-2018 || KOTAK PENSION FUND SCHEME E - TIER II - 23.6868 as on 16-01-2018 || KOTAK PENSION FUND SCHEME C - TIER II - 20.8458 as on 16-01-2018 || KOTAK PENSION FUND SCHEME G - TIER II - 19.1722 as on 16-01-2018 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 18.4095 as on 16-01-2018 || KOTAK PENSION FUND SCHEME A - TIER I - 10.8926 as on 16-01-2018 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME E - TIER I - 26.4001 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME C - TIER I - 21.9558 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME G - TIER I - 19.9767 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME E - TIER II - 22.5741 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME C - TIER II - 20.4303 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.3897 as on 16-01-2018 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.7353 as on 16-01-2018 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 28.1299 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 24.3834 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 20.5722 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 22.1684 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 22.7219 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.7212 as on 16-01-2018 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.7199 as on 16-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 20.7536 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.8444 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.2094 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 17.9769 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.9407 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.5436 as on 16-01-2018 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.8328 as on 16-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.6034 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 10.7359 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 10.2184 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 10.4333 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.5834 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 10.4627 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 9.8648 as on 16-01-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 16-01-2018

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Corporate Sector

The Central Government has introduced the National Pension System (NPS) with effect from January 01, 2004 (except for armed forces). Pension Fund Regulatory and Development Authority (PFRDA), the regulatory body for NPS, has appointed NSDL as Central Recordkeeping Agency (CRA) for National Pension System. CRA is the first of its kind venture in India which will carry out the functions of Record Keeping, Administration and Customer Service for all subscribers under NPS. CRA shall issue a Permanent Retirement Account Number (PRAN) to each subscriber and maintain data base of each Permanent Retirement account along with recording transactions relating to each PRAN.

NPS Corporate Sector Model is the customized version of core NPS to suit various organizations and their employees to adopt NPS as an organized entity within purview of their employer-employee relationship. This would facilitate corporate entities and other registered bodies to move their existing and prospective employees to NPS architecture. This is in an additional avenue for retirement planning being made available to organized sector and does not dilute their responsibilities under other statutory provisions like Provident Fund etc. Corporate sector has been formally launched from December 2011. Corporate may join NPS through any one of the existing POPs.

Eligibility for corporate to Join NPS
  • Entities registered under Companies Act,
  • Entities registered under various Co-operative Acts,
  • Central Public Sector Enterprises
  • State Public Sector Enterprises
  • Registered Partnership firm
  • Registered Limited Liability Partnership (LLPs)
  • Anybody incorporated under any act of Parliament or State legislature or by order of Central / State Government
  • Proprietorship Concern
  • Trust/Society
Features under Corporate Sector
  • The features applicable under All Citizens of India are available under corporate sector. In addition to these features, a corporate / subscribers under corporate sector can opt for the following:

Co-contribution

NPS provides platform for corporate to co-contribute for its subscribers or facilitate them to contribute for their pension. There are three variations of contributions from employer and employee:

  • Equal contributions by employer and employee
  • Unequal contribution by the employer and the employee
  • Contribution from either the employer or the employee

A Corporate subscriber can also voluntarily contribute in their Tier I through their associated POP. However, contribution in Tier II account can be done through any POP.

Scheme setup option

In NPS, a Corporate would have flexibility to decide investment choice either at subscriber level or at the corporate level centrally for all its underlying subscribers. A corporate can also select a PFM at a corporate level and allow the underlying subscriber to decide the allocation of funds among the three asset classes viz: Equity, Corporate Debt and Government Security.

Tier II

A corporate subscriber can open both Tier I and Tier II account simultaneously at the time of initial registration or can activate Tier II account subsequently through the associated POP. The investment option for the Tier-II account needs to be exercised by the subscriber, which can be different from Tier-I account.

TAX Benefits

Tax Benefit to Corporate

10% of the salary (basic and dearness allowance) of employers Contribution can be deducted as “Business Expense” from their Profit & Loss Account.

Tax benefit to Subscriber

The employer’s Contribution to NPS upto 10% of basic plus DA is allowed deduction under section 80CCD(2) and excluded from the limit of Rs.1.5 lakh.(http://indiabudget.nic.in) .

Steps to operationalise NPS Corporate

  • Selection of a POP
  • Registration of the corporate through the selected POP
  • Registration of subscribers through the selected POP
  • Commence contribution in Tier I account