The EPS pension amount is calculated using a specific formula: Pension = (Average Salary × Pensionable Service) ÷ 70. The average salary is calculated based on the basic pay plus DA of the last 60 ...

The Employee Pension Scheme (EPS) is designed to provide a guaranteed pension to employees after they retire. Both the employer and employee put 12 per cent of the basic salary into a special fund ...

EPFO has specified that physical transfers of funds will be carried out wherever necessary to maintain correct accounting.

EPFO issues new guidelines for correcting erroneous Employees’ Pension Scheme contributions, ensuring accurate pension ...