SRDBL has been managing and operating PF & Gratuity fund of employees of SRDBL's corporate customers. Contribution made by an employee to his/her provident fund, Gratuity or other fund of similar nature payable at the time of retirement is known as Provident Fund & Gratuity contribution. Since, SRDBL is not approved institution as per the Income Tax act 2058 to collect Retirement fund, individual customers will not enjoy tax benefit from such deposit.

1.      Features:

1.      Individual shall not have any right to claim the payment of the retirement contribution as long as s/he is continuing the service.

2.      Individual who is separated from the service may claim for the payment of the balance retirement contribution with evidence of separation of the service along with authorized letter from related institution for payment.

3.      In the event of death of the individual, his/her nominee may lodge the claim for payment of balance amount in the account of the deceased.

4.      Interest payment frequency: Quarterly on daily closing balance

2.      Eligibility:

1.      Individual employees of corporate customer of SRDBL can open an account and deposit their retirement contribution. Prior to this, corporate customers have to open an account and enter an agreement with the Fund. The depositors is called beneficiary of the fund.

3.      Documentation

a.      Duly filled account opening and KYC form

b.      Valid Identification document

c.       Passport size photograph

d.      Authorized letter from related institution.

e.       Other KYC information as applicable

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