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Know the basics of the Employee Pension Scheme ( EPS ), its benefits, eligibility, types of pensions, and how to check your EPS balance easily. Get all information on Employee pension scheme including eligibility criteria, calculation and withdrawal procedure. EPS or Employee Pension Scheme is a social security scheme provided to the Employees for their secure future. The full form of EPS is Employee Pension Scheme, a social security scheme under the Employees’ Provident Fund Organisation (EPFO). EPS provides pension benefits to employees after retirement, ensuring a steady income post-retirement. EPS full form stands for Earnings per share . It is used for evaluating a company's financial soundness and profitability.