Employer's Contribution to PF

For a salaried employee , when ever we take a look at our Salary Slips we always see a Employee Provident Fund (PF) deduction of  12% of our Basic Pay in it and we also know that our employer would need to match that with a equal contribution

But if we see our annual PF statement and try to calculate the amount in our EPF account , it never adds up and it seems like something is missing ... well this is the missing bit

Of the 12 % that our employer is suppose to credit to our EPF( PF) account only 3.67% of  Basic Pay goes into EPF and rest that is 8.33% of Basic Pay goes into Employee Pension Scheme (EPS)

Image : FreeDigitalPhotos.net,Photographer: renjith krishnan