NEW DELHI: The Centre is considering allowing EPFO subscribers to voluntarily contribute towards the pension scheme in addition to employers’ contribution to ensure higher pensions after retirement.
The Employees Provident Fund Organisation (EPFO) is considering the proposal as a large number of subscribers have enhanced paying capacity. “We are considering a proposal to allow employees to contribute towards ‘EPS 95’ for getting enhanced benefits after retirement,” EPFO’s Central Provident Fund Commissioner V P Joy said.
Once the proposal is approved by the EPFO’s Central Board of Trustees, employees could contribute.