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EPFO Pension: If you or your parents are employees under the Employees’ Pension Scheme, then there is news of work for you. If one or both of the parents were salaried parents and have been a member of the Employee Pension Scheme, then their children are given financial support.
To deposit money in EPFO Pension Scheme ie EPS, the company does not deduct money from the salary of its employee, but only deposits some part of the company’s contribution in EPS. In such a situation, when the employee member of the family dies, his orphan children get pension. Let us know about the benefits (EPS Benefits) to orphaned children under the EPS scheme from the Employee Provident Fund Organization (EPFO).
Benefits for children under EPS
- Under this, the amount of pension to the orphan children will be 75 percent of the monthly widow pension.
- The amount received in this will be at least Rs 750 per month.
- If there are two children, then each of the two orphan children will be given a pension amount of Rs 750 per month.
- Under EPS, orphan children will get this pension till the age of 25.
- Under this, a disabled child will be given pension for life.
Where does pension come from?
- For EPS, the company does not deduct any money from the salary of its employee.
- Some part of the company’s contribution is put in EPS.
- Under the new rule, those with basic salary up to Rs 15,000 will get this facility.
- A total of 8.33 percent of your salary is deposited in EPS.
- According to this, on getting a basic salary of Rs 15,000, the company deposits Rs 1,250 in EPS.
