NPS Corporate Contribution

Under NPS Corporate, the employer deducts the employee's contribution from his/her salary and deposits it to the employee's NPS Corporate Account

Tax benefit : Contributions up to 10 percent of an employee's annual salary (basic +dearness allowance) is exempted from Income Tax under section 80CCD(2) of the Income Tax Act, 1961

Flexible: NPS offers three fund options to suit the employee's risk appetite

Portable: The portability option under NPS allows an employee to carry his accumulated corpus to his new employer, if the new employer has subscribed to the NPS corporate

HOW TO OPEN

We can help you by contacting your HR to set up NPS-Corporate.

Companies desirous of implementing NPS for Corporate, have to first sign up by filling the corporate registration form
After the corporate submits the corporate registration form to the Point of presence (POP), a corporate registration no. is issued to the corporate by the POP
Once the corporate receives a corporate registration number, the scheme can now be made available to the employees of the corporate
The employee fills up an application form for his individual subscription for NPS. The form captures basic details of the employee in 4 simple steps
Once the individual subscription form is filled up by the employee, the form is submitted to the POP for Individual Permanent Retirement Account No (PRAN) generation. nce the PRAN is generated, the employee now starts contributing towards NPS routed through his/her employer and starts enjoying tax benefit on contributions up to 10% of his/her annual basic salary (includes dearness allowance, if applicable)
At the time of retirement/vesting, the employee can purchase an annuity from any of the Annuity Service Providers from his/her accumulated retirement corpus