If you are a job profession and EPFO account holder then there is good news for you. The central government has always been taking steps through various schemes in the interest of EPFO account holders.
In this series, the Ministry of Labor is running a scheme named EPS-95 for EPFO account holders. Under this, the account holders get minimum monthly pension. EPFO has informed its account holders about this scheme by tweeting.
Employees’ Provident Fund Organization ( EPFO ) gave information about the benefits and features related to EPS 95 by tweeting. At present, there are more than 6 crore subscribers of EPFO and 75 lakh pensioners across the country, who will get its benefit. Let us know in detail about EPS 95 …
Major advantages of EPS 95 The special thing is that the EPS-95 scheme covers the account holders as well as their widowed man or woman as well as children. Under this scheme, if an account holder dies during his job, then his spouse is given a minimum monthly pension of ₹ 1000.
- In this scheme, the member gets pension on retirement at the age of 58 years.
- The initial member pension (if unemployed) is available from the age of 50 years in the scheme.
- There is a provision for disability pension if the member is permanently and totally disabled during the service period.
- On the death of the account holder, two children get an amount equal to 25 percent of the pension his or her spouse is getting.
- Both the children get equal amount of 25-25 per cent till the age of 25 years.
- Pension to the dependent father/mother on the death of the member account holder provided there is no nominee of the family or any other member.
- Please tell that the full name of this scheme is Employees Pension Scheme-1995. This scheme of EPFO was named EPS-95 because it was started in the year 1995.
- Employees’ Provident Fund Organization is one of the largest social security organizations in the world. This organization keeps on offering different schemes for its account holders. EPFO schemes can be very useful for you in times of trouble.
