What is EPS (Employee Pension Scheme)? — Meaning, Definition & Example
Definition
EPS is a pension scheme under EPFO where 8.33% of employer's contribution goes to EPS (on salary up to ₹15,000). After 10 years of service, employees qualify for monthly pension after age 58. The pension amount depends on years of service and pensionable salary.
With 20 years of service and pensionable salary of ₹15,000, the EPS pension = (15000 × 20) / 70 = ₹4,286 per month after age 58.
🇮🇳 EPS (Employee Pension Scheme) in Hindi / हिंदी में
EPS (कर्मचारी पेंशन योजना) — EPS EPFO के तहत पेंशन योजना है जिसमें नियोक्ता के योगदान का 8.33% EPS में जाता है। 10 वर्ष की सेवा के बाद 58 वर्ष की आयु में मासिक पेंशन मिलती है।
EPS (Employee Pension Scheme) (Hinglish) — EPS EPFO ke under pension scheme hai. Employer ke contribution ka 8.33% EPS mein jaata hai. 10 saal service ke baad 58 ki age pe monthly pension milti hai.