The term EPS typically stands for Employee Pension Scheme, which is a part of the overall social security system in many countries. It is designed to provide pension benefits to employees after retirement. EPS contributions are the funds set aside by employees specifically for their pension scheme.
To enable an employee’s EPS excess contribution, perform the following actions:
- Login to your greytHR admin portal, and then navigate to Employee > Information > Bank/PF/ESI. Bank/PF/ESI page appears.
- From the Search Employee search box, search for the employee whose excess EPS contribution you want to enable.
- Next to PF Account, you can view an Edit icon. Click the Edit icon to update the PF details.
- Select the check box Allow EPS excess contribution.
- From the Document Type drop-down list, select the relevant document.
- Click Save to enable the selected employee’s EPS excess contribution details.
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Related Links:
Video: To watch the video on Bank/PF/ESI page, click here.
FAQs: To read more FAQs about Bank/PF/ESI, click here.
Documentation: To learn more about the Bank/PF/ESI page, click here.
Product Update: To read about the product update, click here.
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