For EPS, the company does not deduct any money from the salary of its employees. Rather, the company itself puts this contribution in the EPS on its own behalf.
Sometimes children become orphans at a young age. If you want to secure the future of your children. So you should definitely take Employee Pension Scheme. This scheme is taken only through EPFO. In which any employed mother or father or both can become a member. According to this scheme, if your job has completed 10 years. So you become entitled to the Employee Pension Scheme. Many times you or your orphan children get the direct benefit of which.
What is Employee Pension Scheme – 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 case, when the employee member of the family dies. So their orphan children get pension. Let us know about the benefits provided by the Employee Provident Fund Organization (EPFO) to the orphan children under the EPS scheme.
Benefit for children under EPS – In this scheme, orphan children get pension from the government . That is 75% of the widow pension. Under this scheme orphan children get minimum Rs 750 per month. On the other hand, if there are two children, then both the orphan children will get a pension of Rs 750-750 every month. The benefit of this scheme is available till the age of the orphan children till the age of 25 years. Along with this, a lifelong pension is given to a disabled child.
How to get pension money – For EPS, the company does not deduct any money from the salary of its employees. Rather, the company itself puts this contribution in the EPS on its own behalf. According to the new rules of EPFO, people whose basic salary will be less than 15 thousand rupees.
They will get the benefit of EPS scheme. At the same time, 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, Rs 1250 gets deposited in EPS every month.
