EPFO is known to provide multiple facilities to its subscribers and it is still growing in that term. Apart from offering benefits to its members, EPFO also has multiple advantages to the user’s family members. You will be surprised to learn that it also includes pension that is received by the parents of the subscriber.
EPFO is a scheme that manages to provide for the pension facility of the salaried employees. Although it is one of the best schemes out there, it has yet more surprises to reveal to its users. EPFO also offers benefits to the family members of the subscribers but not many of them know about it so here is a tiny piece of writing dedicated to the same.
EPFO Gives Pension to Parents of Members
Although it is not a very happy thing, anything against a huge loss is small for the family but in the right mind EPFO knows how important it is. It is why EPFO offers a benefit of pension to the parents and other immediate family members of the deceased. Although there are certain terms and conditions attached to this, the major one is that the person should be employed at the time of demise.
In such a case where the employee was on the job and if he is the sole breadwinner of the family, then the parents and other dependents of the person shall get a lifelong pension. This benefit is stated under the EPS-95 rule where you can get the complete information on the subject.
The one major condition to get this pension is that the employee should have completed at least 10 years of service.
In addition to this, if the employee becomes physically disabled during the job, then the employee along with the dependents shall benefit from the pension scheme for their entire life. Unlike the death rule, in such a case the employee is not mandatory to complete the 10 years of service.
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