The scheme ensures retirement security for employees covered under the EPF Act, offering monthly pensions, family pensions, and withdrawal benefits. It targets workers in organised...
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рд╡рд┐рднрд╛рдЧ / рдордВрддреНрд░рд╛рд▓рдп: Ministry Of Labour and Employment
**Superannuation Pension:** Payable to members who retire at 58 years with at least 10 years of eligible service. Calculated as (Pensionable Salary ├Ч Pensionable Service) / 70.- **Early Pension:** Reduced pension for members retiring between 50-58 years, with a 4% reduction per year below 58. Payable if the member has rendered eligible service of 10 years or more.- **Monthly Member's Pension:** Calculated as (Pensionable Salary ├Ч Pensionable Service) / 70.- **Minimum Pension:** тВ╣1,000 per month, subject to deductions for commutation or early pension.- **Widow Pension:** 50% of the member's pension or тВ╣450/month, whichever is higher.- **Children Pension:** 25% of widow pension per child (max 2 children).- **Orphan Pension:** 75% of the widow pension if no surviving spouse (max 2 orphans).- **Permanent Total Disablement Pension:** Minimum тВ╣250/- per month if the member is permanently disabled during service.- **Withdrawal Benefit:** For members who exit before completing 10 years of service, calculated as per Table D.
> **Disbursement Conditions**
Pension starts from the date following the member's retirement, disablement, or death.
Early pension is reduced by 4% for each year the age falls short of 58 years.
Deferred pension increases by 4% for each year beyond 58 years, up to 60 years.
Family pension ceases on widow's remarriage or death.
**Mode of Disbursement:** Through Post Office, Nationalised Banks, or electronic transfer.
- The applicant must be a member of the Employees' Provident Fund Scheme, 1952, or an exempted establishment under Section 17 of the Act.
- The applicant's pay must not exceed тВ╣15,000/month (unless contributing additional 1.16% above this limit).
- The applicant must have a minim...
- **Superannuation Pension:** Payable to members who retire at 58 years with at least 10 years of eligible service. Calculated as (Pensionable Salary ├Ч Pensionable Service) / 70.- **Early Pension:** Reduced pension for members retiring between 50-58 years, with a 4% reduction per year belo...