The contribution paid by the TSRTC is 12% of basic wages plus dearness allowance plus retaining allowance. An equal contribution is payable by the employee also. Out of employer’s contribution, 8.33% will be diverted to Employees’ Pension Scheme, but it is calculated on Rs 15,000. So, for every employee with basic pay equal to Rs 15,000 or more, the diversion is Rs 1,250 each month into EPS. If the basic pay is less than Rs 15000 then 8.33% of that full amount will go into EPS. The balance will be retained in the EPF scheme. On retirement, the employee will get his full share plus the balance of Employer’s share retained to his credit in EPF account. With effective from Sep 2014, employee whose ‘pay’ is more than Rs. 15,000 per month at the time of joining, is not eligible for EPS scheme.