Home Personal Banking Corporate Banking MSME Banking Agri Banking NRI Banking Customer Care
A-   A   A+
Home     About Us     Investor     IDBI Group     CSR    Careers     Contact Us    Search
Net Banking Login
Domestic Interest Rates
NRI Interest Rate
Schedule of Charges
Talk to us
New Pension System - IDBI Bank New Pension System

Personal > Investment Advisory > New Pension System

New Pension System - CORPORATE SECTOR

In order to promote NPS in corporate sector, NPS Corporate Sector model was launched by the regulator in December 2011. It is based on the concept of Employer - Employee relationship.

Under NPS Corporate Sector model, employee as well as employer can contribute to Tier I NPS account of the employee as mentioned below.

bullet Equal contribution from employer and employee
bullet Un-equal contribution from employer and employee
bullet Contribution either from employer or from employee

Tax Benefit on Tier-1 Contribution

bullet Contribution made by the employee to the extent of Rs. 1 Lac per annum is eligible for deductions u/s 80CCD(1) of Income Tax Act 1961 subject to aggregate amount of deductions u/s 80CCE doesn’t exceed Rs. 1.5 Lac.
bullet Contribution made by the employer to the extent of 10% of salary (Basic and DA) is additionally eligible for deduction u/s 80CCD (2) of Income Tax Act, 1961 without any upper limit in terms of value.

An employee can join NPS through Corporate Sector model only if his / her employer is registered for the same.
In order to know more about NPS Corporate Sector Model, please write to nps@idbi.co.in
Home | Top
Service Charges : Domestic Interest Rates : NRI Interest Rate
Disclaimer : webmaster : Site Map : RBI : RTGS : FAQ Up Arrow Policies - Privacy : Hyperlink : Copyright : Screen Reader Access