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EPFO gives pension to whole family know how to avail it

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The Employees Provident Fund Organisation (EPFO) under the ministry of labor runs PF and PF Pension schemes for companies and employees working in the organized sector.

For PF, Employees deposit a part of their salary every month and the company also collects it. Some of the part of the company deposited in the PF also goes to the Employee Pension Scheme (EPS). It is through this, that employees get a pension after retirement.

EPS benefits are not only for employees but also benefits to the family. If the EPF member dies due to any reason, then his/her family ie. wife or husband and children also get the benefit of pension.

It is also called the Family Pension.

When does get pension:- 

 In order to take advantage of the pension, an employee has to work continuously for 10 years. Only the company contributes to this pension scheme. This accounts for 8.33 percent of the company's 12 percent contribution to the PF.

The Government also contributes to pension schemes, which is not more than 1.16% of the basic salary. EPS member is entitled to pension even if he is fully disabled, other than retirement.

The EPS has not mandated 10 year of service for family pension. That is if an employee dies even before the completion of a 10-year service, then his/her family gets the benefits of the pension.

An employee is entitled to a pension if he/she has been employed for 10 years. It is treated like a family pension.

Who gets the family pension:- 

 1. After the death of a member of the EPS scheme, his wife or husband get the pension.

 2. If the employee has children, then his/her 2 children also get the benefits of EPS till the age of 25 years.

 3. If the employee is not married, then his/her nominee gets the benefits of the EPS scheme.

 4. If there is no nominee, After the death of the employee, his/her parents are entitled to the pension.



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