EPFO's central provident fund commissioner V P Joy declares about active consideration of a proposal to accept the additional contribution towards `EPS 95' by employees. This is for getting enhanced benefits after retirement. This is towards its pension scheme, in addition to their employers' mandatory contributions. Once the proposal is sanctioned by the EPFO's central board of trustees, the employees would have an option to contribute towards `EPS 95' too. The proposal is accelerated with the enhanced paying capacity of a large number of subscribers. Thus voluntarily contribution towards EPS is permitted proved to be a windfall.
Prof. Amit Medhekar