POSTED BY April 27, 2011 1:31 pm COMMENTS (6)ON
The employer makes its own contribution towards EPF. However 8.33% of employer’s contribution is deducted and moved to Pension-fund (also called Employee Pension Scheme – EPS). In the yearly statement I receive from EPFO, nothing is mentioned about the 8.33% deduction.
What does this 8.33% deduction do for me? Do I get any fixed pension per month? If yes, from when the pension starts? What is the amount?