Companies giving employees option to opt for New Pension Scheme - February 4, 2013

Companies such as Reliance Industries, Wipro, Congnizant, ICICI, AC, etc are giving employees the option to have some of their income transferred to New Pension Scheme. This scheme is mandatory for government employees. Private companies find this to be a nice option f\during slowing economy, where they employees are not paid less, while they can reduce temporary costs. An employee can receive a tax exemption for 10% of his salary upto 1 lakhs.

Source: www.economictimes.com, February 4, 2013. “Companies like Reliance Industries, ICICI, Wipro, Cognizant, ACC and others find a smart way to make staff richer, gives choice of New Pension System”