Additional contribution of 1.16% of basic wages for subscribers opting for higher pension will be managed from employers' contributions to social security schemes run by retirement fund body Employees’ Provident Fund Organisation (EPFO.)
"It has been decided to draw 1.16% additional contribution from within the overall 12% of the contribution of the employers into the provident fund," a Labour Ministry statement issued late in the evening on May 3 said.
Higher pension | EPFO to wait for number of applicants before releasing calculation process
