EPFO Alert! Orphan children to get pension under EPS'95

Many people lost their lives during the coronavirus pandemic. Many children became orphans. There were many such reports that all the family members died due to corona and the children became orphans. Such orphan children can get financial help under the Employee Pension Scheme. 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 has tweeted about the benefits to the orphan children under the EPS scheme.

What are the benefits for orphan children under EPS?

• The amount of pension to orphan children will be 75 percent of the monthly widow pension. This amount will be at least Rs 750 per month.
• At a time, each of the two orphan children will get a pension amount of Rs 750 per month.
• Under the EPS scheme, orphan children will be given pension till the age of 25.
• If the children are suffering from any disability then they will be given pension for life.

Will there be any payment for EPS?

• 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.
• According to the new rule, 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.
   

Life certificate will have to be submitted for pension

It is mandatory for pensioners 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. Due to this there is no obstacle in getting pension. Now the facility of submitting life certificate through video call has also been started.