Hi Anurag,
Are you sure you need SAML 1.1? This is older technology and I haven't seen customers setting up new 1.1 applications in quite some time. Also, some of the terminology you are using is SAML 2.0.
For SAML 2.0, on the IDP side you configure a Service Provider object within an Affiliate Domain. The Affiliate Domain defines the User Stores that are available while the Service Provider object defines the relationship with the SP.
On the SP side, you configure a SAML 2.0 Authentication Scheme using the SAML 2.0 Template. Within the auth scheme properties is a SAML 2.0 Configuration button (called Additional Configuration in older releases) which will open all the SAML specific properties that define the relationship/trust with the IDP including x509 certs for signing and encryption.
If you need SAML 1.1, I would need to do some research as I haven't worked with this directly myself due to so few customers using it today.
-Pete