If you work in the organized sector, then every month some part of your salary must be deposited in EPF. Contribution is made in the EPF account by both the employee and the company. This contribution is 12-12 percent of basic salary +DA. Of the employer’s contribution, 3.67 percent is deposited in EPF and 8.33 percent is deposited in Employees’ Pension Scheme.
If the employee has completed 10 years of service, then he becomes entitled to receive pension under the EPS95 scheme. But if the employee dies while on the job, then the pension benefit is given to his family members. In this situation, widow pension, child pension and orphan pension are given. Know here what the rule of EPS 95 Scheme says.
Who gets how much pension?
Under the EPS-95 scheme, this employee’s pension includes widow pension, child pension and orphan pension. Under widow pension, the widow wife/widower husband of the minimum employee can get up to Rs 1000. In case of death of the pensioner, 50 percent of the pension is paid to the widow.
Child pension is given when the age of the children is below 25 years. In this situation, 25 percent of the widow pension is paid. This facility can be given to two children at a time. If the children are orphans, then in that case the children get 75 percent of the pension till they attain the age of 25 years. If the child is physically disabled, he is given 75 percent pension for his entire life.
For EPS pension, death certificate of the deceased, copy of Aadhar card of the people who are to get the pension amount, account details, canceled check or attested copy of the beneficiary’s bank passbook are required. If the beneficiary is a minor then his age certificate will also have to be given.
You can claim for this amount also
In case of death of the employee while on the job, the nominee or legal heir or family member of the Employee Provident Fund member can also claim the insurance amount. In this situation, the employee’s family is given an insurance benefit ranging from Rs 2.5 lakh to a maximum of Rs 7 lakh under the Employees Deposit Linked Insurance Scheme. This scheme is an insurance scheme run by EPFO, which is run for every employee registered with EPFO. If the EPFO member has been working continuously for 12 months, then after the death of the employee, the nominee will get a benefit of at least Rs 2.5 lakh.
