EPS-95 Pension Update: A large number of people lost their loved ones due to the corona virus epidemic. Even many children became orphans. There were many such reports that all the family members died due to corona and the children became orphans. Such children can get financial help under the Employee Pension Scheme (EPS).
However, this benefit will be available to those orphan children, whose parents were employed or both were employed and were EPS members. The Employees Provident Fund Organization (EPFO) has told about the benefits (EPS Benefits) to the orphan children under the EPS scheme.
What are the benefits under EPS?
- Orphan children will get 75 percent of the widow pension as pension.
- This amount will be at least Rs 750 per month.
- Each of the two children together will get a pension of Rs 750 per month.
- Under the scheme, orphan children will be given pension till the age of 25 years.
- If the children are suffering from any disability then they will be given pension for life.
Any payment to be made?
- For EPS, the company does not deduct any money from the employee’s salary.
- Some part of the company’s contribution is deposited in EPS.
- Under the new rule, those with basic salary up to Rs 15,000 will get this facility.
- 8.33 percent of the salary is deposited in EPS.
- On having a basic salary of Rs 15,000, the company deposits Rs 1,250 in EPS.
Just have to submit life certificate
Pensioners have to submit life certificate or digital life certificate for pension payment under the Employees’ Pension Scheme-1995 (EPS-95). Every year pensioners are required to submit life certificate or life certificate. Due to this there is no obstacle in getting pension.
