SBI PENSION FUND SCHEME - CENTRAL GOVT - 25.8436 as on 28-07-2017 || SBI PENSION FUND SCHEME - STATE GOVT - 22.2441 as on 28-07-2017 || SBI PENSION FUND SCHEME E - TIER I - 22.3481 as on 28-07-2017 || SBI PENSION FUND SCHEME C - TIER I - 24.2755 as on 28-07-2017 || SBI PENSION FUND SCHEME G - TIER I - 22.6377 as on 28-07-2017 || SBI PENSION FUND SCHEME E - TIER II - 20.5841 as on 28-07-2017 || SBI PENSION FUND SCHEME C - TIER II - 22.2042 as on 28-07-2017 || SBI PENSION FUND SCHEME G - TIER II - 21.6169 as on 28-07-2017 || NPS TRUST A/C-SBI PENSION FUNDS PRIVATE LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.9915 as on 28-07-2017 || SBI PENSION FUNDS PVT. LTD. SCHEME - CORPORATE-CG - 16.4901 as on 28-07-2017 || NPS TRUST - A/C SBI PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.4675 as on 28-07-2017 || SBI PENSION FUND SCHEME A - TIER I - 10.518 as on 28-07-2017 || SBI PENSION FUND SCHEME A - TIER II - 20 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- CENTRAL GOVT - 25.0571 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME- STATE GOVT - 22.3422 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME E - TIER I - 25.9299 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME C - TIER I - 21.9931 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME G - TIER I - 20.5273 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS SCHEME E - TIER II - 21.0169 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS SCHEME C - TIER II - 20.9975 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS SCHEME G - TIER II - 21.0634 as on 28-07-2017 || NPS TRUST A/C-UTI RETIREMENT SOLUTIONS LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.7922 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME - CORPORATE-CG - 10 as on 28-07-2017 || NPS TRUST - A/C UTI RETIREMENT SOLUTIONS LTD. SCHEME - ATAL PENSION YOJANA (APY) - 12.8354 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER I - 10.5052 as on 28-07-2017 || UTI RETIREMENT SOLUTIONS PENSION FUND SCHEME A - TIER II - 10 as on 28-07-2017 || LIC PENSION FUND SCHEME - CENTRAL GOVT - 25.1677 as on 28-07-2017 || LIC PENSION FUND SCHEME - STATE GOVT - 22.5117 as on 28-07-2017 || NPS TRUST A/C-LIC PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 20.7001 as on 28-07-2017 || LIC PENSION FUND LIMITED SCHEME - CORPORATE-CG - 16.6251 as on 28-07-2017 || LIC PENSION FUND SCHEME E - TIER I - 17.2548 as on 28-07-2017 || LIC PENSION FUND SCHEME C - TIER I - 15.7815 as on 28-07-2017 || LIC PENSION FUND SCHEME G - TIER I - 16.419 as on 28-07-2017 || LIC PENSION FUND SCHEME E - TIER II - 14.4695 as on 28-07-2017 || LIC PENSION FUND SCHEME C - TIER II - 14.8472 as on 28-07-2017 || LIC PENSION FUND SCHEME G - TIER II - 16.3587 as on 28-07-2017 || NPS TRUST - A/C LIC PENSION FUND SCHEME - ATAL PENSION YOJANA (APY) - 12.8042 as on 28-07-2017 || LIC PENSION FUND SCHEME A - TIER I - 10.4687 as on 28-07-2017 || LIC PENSION FUND SCHEME A - TIER II - 10 as on 28-07-2017 || KOTAK PENSION FUND SCHEME E - TIER I - 24.4322 as on 28-07-2017 || KOTAK PENSION FUND SCHEME C - TIER I - 24.1601 as on 28-07-2017 || KOTAK PENSION FUND SCHEME G - TIER I - 20.9772 as on 28-07-2017 || KOTAK PENSION FUND SCHEME E - TIER II - 21.6253 as on 28-07-2017 || KOTAK PENSION FUND SCHEME C - TIER II - 20.8027 as on 28-07-2017 || KOTAK PENSION FUND SCHEME G - TIER II - 19.6839 as on 28-07-2017 || NPS TRUST A/C-KOTAK MAHINDRA PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 18.2436 as on 28-07-2017 || KOTAK PENSION FUND SCHEME A - TIER I - 10.436 as on 28-07-2017 || KOTAK PENSION FUND SCHEME A - TIER II - 10 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME E - TIER I - 24.6055 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME C - TIER I - 21.7563 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME G - TIER I - 20.4642 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME E - TIER II - 21.0354 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME C - TIER II - 20.2681 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME G - TIER II - 19.9009 as on 28-07-2017 || NPS TRUST A/C-RELIANCE CAPITAL PENSION FUND LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME A - TIER I - 10.4159 as on 28-07-2017 || RELIANCE PENSION FUND SCHEME A - TIER II - 10 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER I - 26.1231 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER I - 24.1937 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER I - 21.0137 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME E - TIER II - 20.5756 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME C - TIER II - 22.5622 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME G - TIER II - 20.1415 as on 28-07-2017 || NPS TRUST A/C-ICICI PRUDENTIAL PENSION FUNDS MANAGEMENT COMPANY LIMITED- NPS LITE SCHEME - GOVT. PATTERN - 10 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER I - 10.4323 as on 28-07-2017 || ICICI PRUDENTIAL PENSION FUND SCHEME A - TIER II - 10 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER I - 19.3063 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER I - 15.7306 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER I - 15.576 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME E - TIER II - 16.7029 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME C - TIER II - 14.8178 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME G - TIER II - 15.9049 as on 28-07-2017 || NPS TRUST A/C-HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME - NPS LITE SCHEME - GOVT. PATTERN - 10 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER I - 10.509 as on 28-07-2017 || HDFC PENSION MANAGEMENT COMPANY LIMITED SCHEME A - TIER II - 10 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME E - TIER I - 10.5549 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME C - TIER I - 10.3866 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME G - TIER I - 10.5498 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME A - TIER I - 10.1275 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME E - TIER II - 10.472 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME C - TIER II - 10.2331 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME G - TIER II - 10.2598 as on 28-07-2017 || BIRLA SUN LIFE PENSION SCHEME A - TIER II - 10 as on 28-07-2017

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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