What benefits does EPFO offer to the orphans under EPS 95 scheme? Know details here
The Employees Provident Fund Organisation (EPFO) has certain benefits, which are payable to orphans as per the EPS 95 scheme.
EPS Scheme '95: The Employees' Provident Fund Organisation (EPFO) has certain benefits, which are payable to orphans as per the EPS 95 scheme. In case of any details and query, the EPFO members can login to the official website of EPFO at epfindia.gov.in.
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There are several schemes under the EPFO, which include EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI). Now, the features of the Pension Scheme 1995 (EPS) are as follows:
1) Benefit provided in case of death of an employee, who was a member of the scheme at the time of death
2) Benefit amount 20 times of the wages. Maximum benefit of 6 lakh.
Recently, the EPFO tweeted about the benefits available to an orphan in case of an unfortunate incidents from its official Twitter handle. The tweet said, "Benefits payable to orphans under EPS'95."
The benefits available to the orphans under EPS '95 scheme are as follows:
1) Pension amount is 75 per cent of monthly widow pension, with minimum of Rs 750 per month, each for two orphans at a time
2) The pension will be paid till 25 years of age
3) The pension will be paid lifelong if the person is suffering from any disability
In a related news, it must be noted that the EPFO has recently issued a circular where it stated the enhancement of the ex-gratia death relief fund from Rs 4.2 lakh to Rs 8 lakh. The circular further said, "The ex-gratia Death Relief Fund of Rs 8.00 lakh (Rs Eight Lakh only) shall be paid to the family members (nominee or legal heirs) of the deceased employee of the Central Board from the Welfare Fund where cause of death is other than Covid-19 disease."
The EPFO members must note that the instructions will come into force with immediate effect and will be applicable to the prospective cases where the date of death is after the date of issue of the circular, that is, November 2, 2021.
In case of any doubts and queries, the EPFO members can login to the official website of EPFO at epfindia.gov.in.
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