EPFO Streamlines EPS Errors: New Guidelines Ensure Correct Pension Records

• EPFO issued new guidelines to rectify incorrect or incomplete Employees' Pension Scheme (EPS) contributions.
• Addresses issues where ineligible employees contributed to EPS or eligible employees were wrongly excluded.
• For ineligible employees, wrongly deposited EPS amounts with interest will be transferred to their Provident Fund (PF) account.
• For eligible but excluded employees, outstanding EPS contributions with interest will be moved to their Pension Account, updating service records.
• Aims to ensure uniform processing, protect pension rights, and provide clearer, more reliable pension records nationwide.

Why It Matters: EPFO's new rules fix EPS contribution errors, ensuring accurate pension records and smoother claims.