SBI PENSION FUND SCHEME - CENTRAL GOVT - 26.008 as on 19-01-2018 || SBI PENSION FUND SCHEME - STATE GOVT - 22.341 as on 19-01-2018 || SBI PENSION FUND SCHEME E - TIER I - 24.3269 as on 19-01-2018 || SBI PENSION FUND SCHEME C - TIER I - 24.4823 as on 19-01-2018 || SBI PENSION FUND SCHEME G - TIER I - 22.2851 as on 19-01-2018 || SBI PENSION FUND SCHEME E - TIER II - 22.4346 as on 19-01-2018 || SBI PENSION FUND SCHEME C - TIER II - 22.416 as on 19-01-2018 || SBI PENSION FUND SCHEME G - TIER II - 21.2932 as on 19-01-2018 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.1163 as on 19-01-2018 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 16.5658 as on 19-01-2018 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.5349 as on 19-01-2018 || SBI PENSION FUND SCHEME A - TIER I - 10.8665 as on 19-01-2018 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 25.3299 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 22.5568 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 28.7054 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 22.1572 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 20.103 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 23.2572 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 21.1738 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 20.6172 as on 19-01-2018 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 21.0243 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 19-01-2018 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.9051 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.8314 as on 19-01-2018 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 25.3484 as on 19-01-2018 || LIC PENSION FUND SCHEME - STATE GOVT - 22.6484 as on 19-01-2018 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.8789 as on 19-01-2018 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 16.6634 as on 19-01-2018 || LIC PENSION FUND SCHEME E - TIER I - 18.8747 as on 19-01-2018 || LIC PENSION FUND SCHEME C - TIER I - 15.8643 as on 19-01-2018 || LIC PENSION FUND SCHEME G - TIER I - 16.0476 as on 19-01-2018 || LIC PENSION FUND SCHEME E - TIER II - 15.7723 as on 19-01-2018 || LIC PENSION FUND SCHEME C - TIER II - 14.8653 as on 19-01-2018 || LIC PENSION FUND SCHEME G - TIER II - 15.9911 as on 19-01-2018 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.8366 as on 19-01-2018 || LIC PENSION FUND SCHEME A - TIER I - 10.7902 as on 19-01-2018 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || KOTAK PENSION FUND SCHEME E - TIER I - 26.7029 as on 19-01-2018 || KOTAK PENSION FUND SCHEME C - TIER I - 24.2989 as on 19-01-2018 || KOTAK PENSION FUND SCHEME G - TIER I - 20.5071 as on 19-01-2018 || KOTAK PENSION FUND SCHEME E - TIER II - 23.6228 as on 19-01-2018 || KOTAK PENSION FUND SCHEME C - TIER II - 20.922 as on 19-01-2018 || KOTAK PENSION FUND SCHEME G - TIER II - 19.2676 as on 19-01-2018 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 18.4607 as on 19-01-2018 || KOTAK PENSION FUND SCHEME A - TIER I - 10.8156 as on 19-01-2018 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME E - TIER I - 26.8035 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME C - TIER I - 21.9964 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME G - TIER I - 20.0653 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME E - TIER II - 22.9103 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME C - TIER II - 20.486 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.4864 as on 19-01-2018 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.741 as on 19-01-2018 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 28.5978 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 24.4305 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 20.6569 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 22.5365 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 22.7681 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 19.8044 as on 19-01-2018 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.9031 as on 19-01-2018 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 21.0189 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.874 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.2777 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 18.2086 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.9682 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.6125 as on 19-01-2018 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.8482 as on 19-01-2018 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 11.7161 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 10.722 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 10.2675 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 10.4389 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 11.689 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 10.4392 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 9.9147 as on 19-01-2018 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 19-01-2018

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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