Dear Friends & Seniors,
My unmarried brother ,working in a Pvt Company expired on 19-02-2019.
He is survived by his mother,brother & 2 sisters.
Sisters are married.
My question is
1- who is the eligible nominee to receive monthly pension under EPS?
2-will nominee get previous EPS pension too(ie pension from date of death to current)?
3-what is the current pension , nominee will get?
Kindly answer.Thanks
From India, Lucknow
My unmarried brother ,working in a Pvt Company expired on 19-02-2019.
He is survived by his mother,brother & 2 sisters.
Sisters are married.
My question is
1- who is the eligible nominee to receive monthly pension under EPS?
2-will nominee get previous EPS pension too(ie pension from date of death to current)?
3-what is the current pension , nominee will get?
Kindly answer.Thanks
From India, Lucknow
Hi
What was the total service period? Whether PF Pension made at the time of joining the fund.
While spouse is eligible for pension for married category for unmarried Mother will be eligible for Pension and other benefits
From India, Madras
919What was the total service period? Whether PF Pension made at the time of joining the fund.
While spouse is eligible for pension for married category for unmarried Mother will be eligible for Pension and other benefits
From India, Madras
My brother worked for 8 years & his deducted for that service & employer made a monthly contribution to EPS.
From India, Lucknow
From India, Lucknow
The scheme is provided by the Employees’ Provident Fund Organisation (EPFO) and ensures that employees receive a pension once they attain the age of 58 years old. Existing, as well as new EPF members, can avail the benefits of the scheme. The employee and employer each contribute 12% of the employee’s basic salary and Dearness Allowance (DA) towards EPF. While the entire share of the employee is contributed towards EPF, 8.33% of the employer’s share goes towards EPS. The scheme acts as a regular source of income after the employee retires.
Eligibility to avail EPS benefits
The eligibility criteria to avail the EPS benefits are mentioned below:
• You must be a member of the EPFO.
• You must have attained the age of 58 years.
• In case you defer the pension for 2 years (until you reach the age of 60 years), you will be eligible to receive the pension at an additional rate of 4% per year.
• You must have completed at least 10 years of service.
• In case an employee has worked for 6 months or more, the service period will be considered as 1 year. However, if the service period is less than 6 months, the working duration will not be taken into account. Therefore, if an employee has worked for 10 years and 7 months, the number of years of service will be taken as 11. However, if the employee has worked for 10 years and 5 months, the number of years of service will be considered as 10.
From India
Eligibility to avail EPS benefits
The eligibility criteria to avail the EPS benefits are mentioned below:
• You must be a member of the EPFO.
• You must have attained the age of 58 years.
• In case you defer the pension for 2 years (until you reach the age of 60 years), you will be eligible to receive the pension at an additional rate of 4% per year.
• You must have completed at least 10 years of service.
• In case an employee has worked for 6 months or more, the service period will be considered as 1 year. However, if the service period is less than 6 months, the working duration will not be taken into account. Therefore, if an employee has worked for 10 years and 7 months, the number of years of service will be taken as 11. However, if the employee has worked for 10 years and 5 months, the number of years of service will be considered as 10.
From India
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