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EPFO Big Update:The work of regulating PF is done by EPFO. Apart from this, companies also contribute 12 percent.

If you work in the private sector, then now the luck of such employees has shined. There is also a provision to give pension to the employees whose PF money is deducted while working in the private sector, for which some important things have to be understood.

PF employees contribute 12 percent of their basic salary to the EPF account. PF is regulated by the EPFO. Apart from this, companies also contribute 12 percent.

All this money is deposited with PF. Do you know that the PF given by the company is divided into two parts.

In this, the first 8.33 percent money is transferred to the Employees' Pension Scheme while 3.67 percent is transferred to the EPFO ​​scheme. This amount is also gifted to the employees with huge returns.

The government has fixed the pension every month

The central government has decided to give a minimum pension of Rs 1000 under EPS-1995 from the year 2014. For the past few days, the demand for a minimum pension of Rs 7,500 as per EPS is increasing rapidly, but the government has not yet given any response on this.

The EPS-95 National Agitation Committee, which was started for the upliftment of pensioners, also demonstrated in a protest in the capital Delhi. In this protest, a demand has been made to increase the pension to a minimum of Rs 7,500, but no assurance has been given yet.

If we talk about the last few years, we have been continuously demanding from EPFO ​​to increase the pension limit by about 7.8 percent, but till now no middle path has been found.

In such a situation, you need to know that both EPF and EPS are retirement benefit schemes run by the government under EPF 1952, through which one can secure his future. In EPF, pension is available without any contribution from the employee.

Know the rules of EPS

Which employees are entitled to get pension benefits under the Employees' Pension Scheme? First, you need to know its rules. After knowing the rules, all your confusion will end.

There is a provision for an employee to get pension only if you have worked for a minimum of 10 years. According to the secretary of the committee, it is the big responsibility of all political parties, whether in power or in opposition, to fix the minimum pension of every employee at Rs 7500.

If the government decides this, then the future of a large number of employees will become bright.