Superannuation Scheme

Scheme and applicability

1. Superannuation fund is currently managed by Life Insurance Corporation of India.
2. Employees in grade P1 and above can become member of this fund
3. Contribution @ 15 % of Basic pay (Max. one lac fifty thousand the year) can be
contributed to this fund. This payment would be paid out of employees CTC and would
be paid to LIC by end of the financial year
4. If employee does not opt to contribute to this fund, amount out of flexi plan would be paid
in salary as taxable.
5. The contribution with interest (as decided LIC by every year) would be accumulated
every year and consolidated statement would be provided to TechM.

Benefits and withdrawal

At the time of retirement or termination of employment following benefits are applicable to the
employee subject to minimum 2 years of service with TechM.

1. If employee puts in more than 2 years of service and less than 5 years of service with
TechM, 1/2 lump-sum with assured life time pension would be given by LIC
2. If employee puts in more than 5 years of service with TechM, 1/3 lump-sum with assured
life time pension would be given by LIC
3. ½ or 2/3 of the balance accumulation would remain with LIC till the death of employee
and assured pension would be paid directly. This contribution would be refunded back to
the nominee on members death
4. The option of 5, 10, 15, 20 years assured pension instead of life time pension is also
applicable if employee choose this option of pension.
5. Employee has option to start pension immediately on separation from TechM or after the
retirement age.
6. On separation from TechM, employee can transfer his / her accumulation to other
companys’ superannuation fund.