Family can get pension even after the death of the employee, know what are the rules of EPFO

Family can get pension even after the death of the employee, know what are the rules of EPFO

Under the EPS scheme of EPFO, after the death of the employee, the family members can get the benefit of family pension. This includes from husband or wife to children.

Know how to get family pension

During the job, some part of the salary of each employee is deposited in the PF and Pension Scheme (EPS) run by the Employees’ Provident Fund Organization (EPFO). This secures the future of you and your family members. Under the EPS scheme, even if the employee dies, the pension does not stop. In this situation, the family members get the benefit of pension.

Where PF money is used to meet the needs of emergency. At the same time, pension is available through EPS. On the death of the EPF member, the wife or husband and children also get the benefit of pension, hence it is also called family pension.

10 years job is necessary for pension

To get the benefit of pension, it is necessary for the employee to work continuously for 10 years. Only then the employee is entitled to pension. In this pension scheme, 8.33 percent of the 12 percent contribution of the company is deposited. The government also contributes on this, it does not exceed 1.16 percent of the basic salary. According to the EPFO ​​rules, apart from retirement, if the employee becomes completely disabled in an accident, he can still get pension.

family pension rules

1. Under the EPS scheme, the employee gets a fixed pension every month till he is alive. In his absence, his wife or husband is entitled to pension.
2 If the employee has children, then his 2 children can also get pension till the age of 25 years.
3. If the employee remains unmarried, his nominee gets pension.
4. If there is no nominee, then after the death of the employee, his parents are entitled to pension.

Also Read: Can Someone Hack Your Bank Account With Your Aadhaar Number? UIDAI gave this answer

DDA gives big relief to flat buyers, deadline for interest free payment of flats extended till August 31


Default image
Business Khabar
We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.
Articles: 5406