‘ε’(Epsilon) is not only a value in electrostatics, but also had a benign physical significance.
Permittivity is the property of any surrounding. This can be easily explained by the example given below:
Suppose we send a signal which has 100% information but our receiver receives only 60% of signal, then where our 40% signal gone?
This remaining signal is absorbed in the surrounding. So, actually this property of surrounding that how much energy does it absorbs from our source, is termed as its PERMITTIVITY.
This permittivity is different for different mediums. In most of the cases our surrounding is vaccum, so we use ε.(Epsilon naught) which has a fixed value.
Hence, this permittivity only defines the property of surrounding in which any charge is placed in electrostatics.