EPS Pension Rule Update 2023

 New information has been issued by the Supreme Court for the members of the Employees' Provident Fund Organization who are members of the Employees' Pension Scheme.

 The Supreme Court has struck down one of those amendments!  Under which employees are required to make an additional contribution of 1.16% on salary above Rs 15,000 per month

 Now EPFO ​​will have to give a joint declaration.

 According to the formula 8.33% of Rs.15,000 + 1.16% of Rs.5,000 (Rs.20,000 – Rs.15,000).

Off-white Section Separator

 After completion of 6 months, EPFO ​​has to clarify.  How will the excess contribution to the EPS account work?

Off-white Section Separator

 Additional contribution of 1.16% on excess amount.  You can check all the information on the official website.

 For a period of 6 months, as on 1st September 2014, the EPS members who had opted for higher contribution to their pension account at that time.  They will still need to make an additional contribution of 1.16% on the excess amount.

Check Latest New job Information.