Hi, I am able to see Pension Contribution column in our account summary like below
/Pension /Contribution
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)?
3rd January 2018 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 itís 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.
3rd January 2018 From India, Pune
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