Where does the Amount of EPS which is not returned to employee or employer go?

rajeevdixit
We have seen that when any employee leaves an organisation within six months of joining, he can withdraw his PF amount but his EPS amount is not given back to him saying that you have left the service within six months.
My question is if the amount of 8.33% (EPS ) is not given back to employee nor it goes back to employer then where does it go? How it is treated?
Gurgaon HR
Dear Rajeev,
Provident fund organisation will keep 8.33% of the EPS amount in this situation and the amount will not go back to employer in any case.
Simple & Clear.
Chill HR
https://www.facebook.com/HRGang
rajeevdixit
Then where is goes is my question .
It does not go to employee nor to employer .
Regards
Rajeev Dixit
Apex Management
Dear all,
In sum up, the EPS scheme of the EPFO is suffering deficit by way of paying out pensions to dependents and contributors and these forfeited amounts are adjusted into the EPS scheme. This is the main reason why the ceiling limit of Rs.6500/- is still not increased.
P K Sharma
Gurgaon HR
Dear Rajeev,
The funds will retain by the pf department for infrastructure development and for other similar purpose.
Chill HR
https://www.facebook.com/HRGang
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