The Employee Pension Scheme (EPS) contribution is the amount that both employees and employers contribute to the scheme; Employees contribute 12% of their basic salary, dearness allowance, and retaining allowance to the EPF. Employers contribute 12% of the employee’s salary, with 8.33% going to the EPS and 3.67% going to the EPF. An EPF member can be part of EPS scheme, provided his basic salary does not exceed Rs 15,000 per month from September 1, 2014.
