EPFO Higher Pension Scheme Details

 Employees’ Provident Fund Organisation (EPFO) members are entitled to a pension after retirement

Currently, the employees and employers contribute 12% of their basic salary and dearness allowance to the EPF.

the employer’s 12% contribution, 8.33% goes to the Employees’ Pension Scheme (EPS) and 3.67% to the EPF.

In 1995, the Government introduced a pension scheme under Section 6A of the EPF Act

The Employees Pension Scheme, 1995 (EPS-95) provided that the employer’s contribution of 8.33% should be towards the pension scheme.

 the 8.33% EPS contribution is capped at the maximum amount of Rs.15,000 even when the employee draws a higher salary.