HR Glossary

What is Employees' Pension Scheme (EPS)?

India's government-administered pension scheme under EPFO that provides monthly pension payments to eligible members after retirement, funded by diverting 8.33% of the employer's EPF contribution to the pension fund.

Why it matters in hiring

Employees' Pension Scheme (EPS) comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with E

• Education Allowance (UAE)
• EEO-1 Report
• EEOC
• EI - Employment Insurance (Canada)
• eLearning
• Emiratization (UAE)
• Employee Assistance Program (EAP)
• Employee Discount Program

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