The [Corporate NPS](https://pensionbox.in/blog/How-to-Start-Corporate-NPS-with-PensionBox-) is a popularly heard term in the market today. It is a comprehensive retirement scheme built to specially target the organizations so that they can help their employees secure a financially secure and stable future. In a fast paced world, as businesses strive to offer enhanced benefits, many are looking to apply for **Corporate NPS** to provide their workforce with an organized and structured retirement plan. This initiative allows entities across various sectors, including private firms, public companies, trusts, and even multinational corporations, to offer long-term pension benefits. With digitally available platforms like PensionBox, the process of enrolling your business in **Corporate NPS** has become more streamlined and accessible. Today’s blog focuses on the types of entities eligible for **Corporate NPS** and how your firm can seamlessly apply for it.

### What is NPS?
The [NPS](https://pensionbox.in/blog/What-is-NPS) is a voluntary, defined contribution towards savings for retirement that enables patrons to make the right decision for the future by generating savings throughout their lives. Anyone in the age group of 18–70 years, public or private employee, resident or non-resident, can become a part of the National Pension Scheme program. [Section 80CCD(2)](https://www.policybazaar.com/income-tax/section-80ccd/) of the Income Tax Act covers the contribution of an employee to the NPS. [Section 80C](https://cleartax.in/s/80C-Deductions) of the Income Tax Act covers the tax deduction of ₹1.5 lakh for self-contribution to the National Pension Scheme. [Section 80CCD(1B)](https://cleartax.in/s/section-80-ccd-1b) of the Income Tax Act covers the additional deduction of ₹50,000, which is allowed if a contribution is made towards the NPS.
To know more about NPS in detail, visit [PensionBox](https://pensionbox.in/blog/What-is-NPS.)

## What is Corporate NPS
**Corporate NPS** is an extension of the regular [NPS](https://pensionbox.in/blog/What-is-NPS) specially built for the corporate sector. The government introduced it as a platform for employers to provide pension benefits to their employees in a tax-efficient manner. There’s more to Corporate NPS. **Corporate NPS** not only allows employees to plan for their retirement but also provides significant tax benefits for both employees and employers.

## Which entity can apply for Corporate NPS?
One of the most crucial questions is **Which entity can apply for Corporate NPS?** Here are the different types of organizations eligible to register:
1. Public Limited Companies: Public companies listed on the stock exchange can also participate in **Corporate NPS**. Public companies often operate on a larger scale and offering retirement benefits to employees adds to their goodwill.
2. Partnership Firms: Partnership firms can apply for **Corporate NPS** to provide their employees with post-retirement financial security. Even smaller businesses, when registered as partnerships, can take advantage of the tax benefits associated with Corporate NPS.
3. LLPs (Limited Liability Partnerships): The relatively new business structure of LLPs is also eligible. Since LLPs enjoy certain flexibilities that partnerships don’t, enrolling in a structured retirement scheme such as **Corporate NPS** can be particularly advantageous.
4. Proprietorships: Sole proprietorships, though smaller in scale, can also apply for **Corporate NPS**. Many sole proprietors may wish to offer retirement benefits to their employees as a form of security.
5. Public Sector Enterprises (PSEs): Public sector companies can apply for **Corporate NPS** to ensure that their employees have access to pension plans that are financially stable and tax-beneficial.
6. Trusts and Societies: Trusts and non-profit organizations working in various sectors such as education, health, or social welfare can also participate in **Corporate NPS**. While their primary objective might not be profit-making, enrolling employees in **Corporate NPS** can offer them long-term financial security.
7. Multinational Companies (MNCs): Large global entities with Indian subsidiaries or branches can apply for **Corporate NPS** to offer retirement solutions to their Indian employees. This helps in aligning employee benefits across regions.
8. Cooperative Societies: Cooperative societies, which are community-oriented organizations, are also eligible to apply for **Corporate NPS**. This ensures that all employees, irrespective of the nature of their employer, have a path to a secure retirement.
9. Autonomous Bodies: These government-associated but self-governing bodies can also apply for **Corporate NPS**. Since they often have employees working under fixed contracts, enrolling them in Corporate NPS provides long-term financial benefits.
10. Private Limited Companies: Any private entity registered under the [Companies Act](https://www.mca.gov.in/Ministry/pdf/CompaniesAct2013.pdf) can apply for **Corporate NPS**. Since many private organizations are now looking to attract and retain talent, offering a retirement benefit plan like Corporate NPS can be a significant draw.

### Why Should You Apply for Corporate NPS?
The appeal of Corporate NPS extends beyond just employee retention. Here’s why your entity should apply for Corporate NPS:
1. Tax Rewards: Corporate NPS offers exciting tax rewards to both employers and employees. Employers can claim deductions for their contributions under Section 36(1)(iv)(a), while employees can avail themselves of tax deductions under [Section 80CCD(2)](https://cleartax.in/s/section-80ccd). Offering Corporate NPS as a retirement option increases your appeal as an employer. 
2. Comprehensive Retirement Solution: Corporate NPS ensures that employees have a sound and structured financial plan for their retirement. It offers equity, government bonds, and corporate bonds, depending on the subscriber's choice. This diversification reduces risk and maximizes returns, providing peace of mind for employees.
3. Customizable Options: As an employer, you can customize the plan to suit your employees' needs. Whether you wish to contribute fully to your employees' NPS accounts or prefer a co-contribution model, Corporate NPS is flexible and can be tailored to meet the goals of your organization.
4. User-Friendly Platform: Platforms like PensionBox provide an intuitive interface for businesses looking to manage their Corporate NPS accounts efficiently. With [PensionBox](https://pensionbox.in/blog), employers can easily monitor employee contributions, track investments, and ensure compliance with regulatory requirements.

### How to Apply for Corporate NPS?
The Internet has made things way too easy today. Applying for Corporate NPS is simple and can be done through a variety of platforms. However, [PensionBox](https://pensionbox.in/blog) offers a unique advantage with its user-friendly interface and expert guidance, making the process smoother. Here’s a step-by-step guide on how to apply for **Corporate NPS** through PensionBox:
1. Browse to the PensionBox Website: First step would be visiting the PensionBox website. Here, you will find all the necessary information about the Corporate NPS scheme.
2. Fill in the Required Information: Once on the site, fill in the details of your company, such as the company name, registration number, type of entity, and the number of employees you plan to enroll.
3. Submit Required Documents: Upload documents like your company's PAN card, registration certificates, and employee details.
4. Choose a Contribution Model: Decide on whether your entity will contribute fully to the employees’ pension funds or follow a shared contribution model.
5. Complete the Application: After submitting all the necessary documents and choosing your contribution model, submit your application. The PensionBox team will assist you in the verification process.
6. Start Contributing: Once your application is approved, you can start contributing to your employees' pension accounts through PensionBox.

## Conclusion
Of all the investment options available, Corporate NPS is an excellent opportunity for companies of all types to secure their employees' future while enjoying substantial tax benefits. Whether you're running a private limited company, partnership, or a cooperative society, you can apply for Corporate NPS and offer a structured retirement solution. Visit [PensionBox](https://pensionbox.in/blog) and make the process of enrolling your entity in **Corporate NPS** even easier! 
<img src="https://pensionbox-public-bucket.s3.ap-south-1.amazonaws.com/BlogInnerImages/which%20entity%20can%20apply%20for%20corporate%20nps2.jpg" width="100%"></img>

The Corporate NPS is a popularly heard term in the market today. It is a comprehensive retirement scheme built to specially target the organizations so that they can help their employees secure a financially secure and stable future. In a fast paced world, as businesses strive to offer enhanced benefits, many are looking to apply for Corporate NPS to provide their workforce with an organized and structured retirement plan. This initiative allows entities across various sectors, including private firms, public companies, trusts, and even multinational corporations, to offer long-term pension benefits. With digitally available platforms like PensionBox, the process of enrolling your business in Corporate NPS has become more streamlined and accessible. Today’s blog focuses on the types of entities eligible for Corporate NPS and how your firm can seamlessly apply for it.

Which entity can apply for corporate nps

Other Blogs You Must Read