EPS: Rules, Conditions & Monthly Pension for Private Employees

• EPS is part of EPF, providing monthly pension post-retirement.
• Minimum 10 years of pensionable service and retirement at 58 are required for EPS pension.
• Employers contribute 8.33% of wages to the EPS account monthly.
• Monthly pension is calculated using the formula: (Pensionable Salary x Pensionable Service) ÷ 70.
• Withdrawing PF before completing 10 years of service makes an employee ineligible for EPS pension.

Why It Matters: Understand EPS rules to secure your monthly pension after retirement.