What Is The EOBI Contribution Rate

What Is The EOBI Contribution Rate?

EOBI Contribution

EOBI is a financial relief program for the welfare of private organization’s employees. It is created for the social welfare of private sector employees who don’t get any compensation from the Government of Pakistan during the employment period. So it is a perfect and useful financial support for the private employees who don’t get any other benefits from the government. If you are a private Sector employee then you need to Register yourself with the EOBI Registration and do the EOBI Login process to know your EOBI contribution rate. 

EOBI Contribution Rate Image

Now we will talk about the EOBI contribution that an employee pays to get his EOBI pension after retirement. 

What is the Current EOBI Contribution Rate For Employers?

If you are an owner of a private organization or private company you also need to pay some percentage of contribution for the pension of employees. You can’t skip the EOBI contribution because it’s endorsed by the Government of Pakistan. Article 38(C) of the Pension Act said that every employer must pay a fixed rate of contribution to the employee pension program. 

All employers will pay 5% of the contribution for the pension program. This specific amount of contribution is deducted from the employers and then this contribution is stored for the pensions of employees. 

What is the Current EOBI Contribution Rate for Employees?

If you are an EOBI-ensured employee then you can take EOBI benefits after retirement. Every employee is liable to pay a fixed rate of contribution for his pension. Every employee must pay a 1% amount of contribution from his salary for the pension program. This specific amount of contribution is deducted every month from the employee’s salary until his retirement. 

What is the Current EOBI Contribution Rate From the Government of Pakistan?

The government of Pakistan also contributes to the pension program of employees of private organizations or sectors. However, Pakistan’s government pays 50% of the contribution amount for the employee’s pension scheme. Employers and employees pay 50% of the contribution and 50% contribution is paid by the Government of Pakistan for the pension program. 

How To Do the EOBI Contribution Calculation Process?

EOBI pension contribution calculation can be done through the following methods. 

  • An employer must pay 5% of contributions from the employee’s salary.
  • An employee is responsible for paying a 1% minimum contribution from his salary.
  • 50% contribution paid by the government of Pakistan in the employee pension program.

This is the EOBI share calculation method to estimate the EOBI pension after the retirement of the employee. 

EOBI Contribution Payment Slip

Every EOBI-ensured employee can get your pension contribution payment slip when you visit the EOBI official website. You can do an EOBI login to check your pension and EOBI tracking operation for free online. 

How To Get an EOBI Contribution Payment Slip from Bank Al Falah?

If you are an EOBI Bank Al Falah card holder then you can check the EOBI contribution payment slip from the the Bank Al Falah official website. If you haven’t your EOBI Card then you apply free online. Following is the method how to check the EOBI contribution payment slip.

How To Get an EOBI Contribution Payment Slip from Bank Al Falah
  • Visit Bank Al Falah’s official website.
  • Click on the personal banking option
  • You need to click on branchless banking.
  • Then click on the EOBI option. 
  • Now go to the login button and choose your preferred way to login to your pension account.
  • You see the dashboard of your account, here you can check the EOBI contribution payment slip and see the previous record of payments
EOBI pension Calculation formula

Final Thoughts

EOBI contribution is a necessary thing for the pension of private sector employees. Without EOBI contribution it is not possible to run a social welfare program. If you want to know the latest update about the EOBI pension program then you need to bookmark our official website. 

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