Hi, I am able to see Pension Contribution column in our account summary like below
/Pension /Contribution
Questions:
1.Can you explain me how it is calculated?
2.The pension amount will be given to us while adding with all amounts I mean (Employee Share , Employer Share)?
From India, Chennai
/Pension /Contribution
Questions:
1.Can you explain me how it is calculated?
2.The pension amount will be given to us while adding with all amounts I mean (Employee Share , Employer Share)?
From India, Chennai
Once an employee becomes the member of EPF (Employee Provident Fund) they automatically get enrolled for EPS (Employee Pension scheme). Total contribution towards EPF is 12% and it’s an equal contribution from both the side. 12% of Employee contribution goes in EPF A/C and 12% of Employer contribution is divided into 3.67% which goes in EPF A/C and remaining 8.33% goes in EPS.
In short only Employer share of 8.33% goes in EPS.
From India, Pune
29In short only Employer share of 8.33% goes in EPS.
From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF Pension fund contribution beyond 58 years of age.pdf