The Employees' Provident Fund Organisation (EPFO) has notified 1.65 lakh members to deposit additional funds for higher pension eligibility, following the Supreme Court's decision on pension benefits.
Gig workers will have a single universal account number under EPFO, even for all platforms, should they choose to work with multiple. The scheme is set to be unveiled in the next two or three months.
The employer’s contribution is divided into two parts: 8.33% is allocated to the EPS, while 3.67% goes towards the EPF scheme. Since 2014, the Centre has set the minimum pension under the EPS ...