SBI PENSION FUND SCHEME - CENTRAL GOVT - 24.215 as on 22-02-2017 || SBI PENSION FUND SCHEME - STATE GOVT - 20.8364 as on 22-02-2017 || SBI PENSION FUND SCHEME E - TIER I - 20.1003 as on 22-02-2017 || SBI PENSION FUND SCHEME C - TIER I - 23.0034 as on 22-02-2017 || SBI PENSION FUND SCHEME G - TIER I - 21.1761 as on 22-02-2017 || SBI PENSION FUND SCHEME E - TIER II - 18.5093 as on 22-02-2017 || SBI PENSION FUND SCHEME C - TIER II - 21.0588 as on 22-02-2017 || SBI PENSION FUND SCHEME G - TIER II - 20.2634 as on 22-02-2017 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.6364 as on 22-02-2017 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 15.443 as on 22-02-2017 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 11.6739 as on 22-02-2017 || SBI PENSION FUND SCHEME A - TIER I - 10.2248 as on 22-02-2017 || SBI PENSION FUND SCHEME A - TIER II - 10.202 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 23.4469 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 20.92 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 23.3477 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 20.8679 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 19.2491 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 18.8647 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 19.943 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 19.7164 as on 22-02-2017 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.4294 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 22-02-2017 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 11.9996 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.2141 as on 22-02-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10.2186 as on 22-02-2017 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 23.5951 as on 22-02-2017 || LIC PENSION FUND SCHEME - STATE GOVT - 21.0903 as on 22-02-2017 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 19.4074 as on 22-02-2017 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 15.541 as on 22-02-2017 || LIC PENSION FUND SCHEME E - TIER I - 15.7529 as on 22-02-2017 || LIC PENSION FUND SCHEME C - TIER I - 14.9543 as on 22-02-2017 || LIC PENSION FUND SCHEME G - TIER I - 15.2169 as on 22-02-2017 || LIC PENSION FUND SCHEME E - TIER II - 13.2507 as on 22-02-2017 || LIC PENSION FUND SCHEME C - TIER II - 14.0509 as on 22-02-2017 || LIC PENSION FUND SCHEME G - TIER II - 15.2686 as on 22-02-2017 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 11.9702 as on 22-02-2017 || LIC PENSION FUND SCHEME A - TIER I - 10.185 as on 22-02-2017 || LIC PENSION FUND SCHEME A - TIER II - 10.0688 as on 22-02-2017 || KOTAK PENSION FUND SCHEME E - TIER I - 21.7397 as on 22-02-2017 || KOTAK PENSION FUND SCHEME C - TIER I - 22.8529 as on 22-02-2017 || KOTAK PENSION FUND SCHEME G - TIER I - 19.5703 as on 22-02-2017 || KOTAK PENSION FUND SCHEME E - TIER II - 19.2447 as on 22-02-2017 || KOTAK PENSION FUND SCHEME C - TIER II - 19.6778 as on 22-02-2017 || KOTAK PENSION FUND SCHEME G - TIER II - 18.3868 as on 22-02-2017 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 17.0988 as on 22-02-2017 || KOTAK PENSION FUND SCHEME A - TIER I - 10.1506 as on 22-02-2017 || KOTAK PENSION FUND SCHEME A - TIER II - 10.1546 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME E - TIER I - 21.944 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME C - TIER I - 20.6859 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME G - TIER I - 19.1241 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME E - TIER II - 18.7143 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME C - TIER II - 19.1906 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME G - TIER II - 18.5653 as on 22-02-2017 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.1269 as on 22-02-2017 || RELIANCE PENSION FUND SCHEME A - TIER II - 10.0606 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 23.6396 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 22.9855 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 19.6739 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 18.6209 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 21.4234 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 18.8556 as on 22-02-2017 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.1683 as on 22-02-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10.1657 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 17.0536 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 14.9189 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 14.5802 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 14.7269 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.0615 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 14.8791 as on 22-02-2017 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.2176 as on 22-02-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10.1366 as on 22-02-2017

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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