You can't - it's best to open the EPS in it's native program (probably Illustrator) and make the changes there and save it as a white version.
Check "transparency" when saving.
As Eugene said, not possible with the .eps. If the jpeg is really a 1-bit B&W image you can use that. Fill the frame with Black, then place the jpeg and select it withe the direct select tool (white arrow) and click the Paper swatch, or just drag the swatch onto the frame with the jpeg. This will give yo an inverted logo, but no part of it will be transparent -- it will knock out any color behind.
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And when you save it, save it as a PDF or AI file.