We have seen that when any employee leaves an organization within six months of joining, they can withdraw their PF amount, but their EPS amount is not returned to them, with the explanation that they have left the service within six months.
Question About EPS Amount
My question is, if the amount of 8.33% (EPS) is not given back to the employee, nor does it go back to the employer, then where does it go? How is it treated?
From India, Bangalore
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113Question About EPS Amount
My question is, if the amount of 8.33% (EPS) is not given back to the employee, nor does it go back to the employer, then where does it go? How is it treated?
From India, Bangalore
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The Provident Fund Organization will keep 8.33% of the EPS amount in this situation, and the amount will not go back to the employer in any case. Simple and clear.
Regards,
Chill HR
[Facebook Page: HR Gang](https://www.facebook.com/HRGang)
From India, Gurgaon
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Regards,
Chill HR
[Facebook Page: HR Gang](https://www.facebook.com/HRGang)
From India, Gurgaon
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Then, where it goes is my question. It does not go to the employee nor to the employer.
Regards,
Rajeev Dixit
From India, Bangalore
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Regards,
Rajeev Dixit
From India, Bangalore
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In summary, the EPS scheme of the EPFO is facing a deficit due to the payment of pensions to dependents and contributors. The forfeited amounts are then adjusted into the EPS scheme. This is the primary reason why the ceiling limit of Rs. 6500/- has not been increased.
Regards,
P. K. Sharma
From India, Delhi
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Regards,
P. K. Sharma
From India, Delhi
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Employee Pension Scheme, 1995.doc
Form10C.PDF for Employee Pension Scheme 1995.PDF