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how Entire family can get epfo pension, take advantage

how Entire family can get epfo pension, take advantage
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how Entire family can get epfo pension, take advantage

how Entire family can get epfo pension, take advantage

In the event of the death of an EPF member, his family i.e. wife or husband and children also get the benefit of pension. That’s why it is also called family pension.

By: Dhirendra

Updated: 20 Jul 2021, 10:37 PM IST

New Delhi. Employees Provident Fund Organization runs PF and pension schemes. Employees deposit some part of their salary every month for PF and the company also deposits the same amount. The part that the company deposits in PF also goes to the Employees Pension Scheme (EPS). This money is received by the employees as pension through EPS. EPS not only benefits the employee but also his family. If the EPF member dies, then his family i.e. wife or husband and children also get the benefit of pension. That’s why it is also called family pension. But very few people know how to get family pension.

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This is how pension is received

To get the benefit of family pension, it is necessary for the employee to work in the same company for 10 consecutive years. Only the company contributes in this pension scheme. This is 8.33 per cent of the 12 per cent contribution made by the company in PF. The government also contributes to the pension, which does not exceed 1.16 per cent of the basic salary. Apart from retirement, the EPF member is entitled to pension even if he is completely disabled.

These conditions must be met

EPS must have 10 years of service for family pension. An employee is entitled to pension only when he has done 10 years of service, then it is treated like family pension.

who is entitled to pension

After the death of the member of the EPS scheme, his wife or husband gets the pension. If the employee has children, then his 2 children also get pension till the age of 25 years. If the employee is not married, then his nominee gets pension. If there is no nominee. After the death of the employee, his parents are entitled to pension. Explain that the Employees’ Provident Fund Organization (EPFO) runs PF and pension schemes for the Ministry of Labor for companies and employees working in the organized sector.

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