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EPS 95 Scheme: Employees and their families belonging to Employees Provident Fund Organization (EPFO) get many such facilities, which few people know about. One such facility is related to pension. In fact, there is also a provision to provide pension to children under the Employee Pension Scheme (EPS) through EPFO. However, this facility is available only to those children who are orphans. To understand in simple language, children whose parents were employed and EPS members, are entitled to pension.
How much do you get?
According to information provided by EPFO, the pension amount is 75 percent of the monthly widow pension. This amount is given to two orphans at a time. This minimum amount per month is Rs. 750 is Means 2 orphans get 1500 rupees per month under EPS. Pension is paid till the age of 25 years. Pension is paid for life if one is suffering from disability. If the children are orphans and come under the ambit of pension, EPFO has to provide information about the death of the parents.
Pension to Widow: Under this scheme a monthly widow pension is also given to the wife of the employee after his death. Under this pension at least Rs. 1000 available. If the employee has children, his two children also get monthly pension up to the age of 25 years. The amount of pension received by the children is 25 percent of the widow’s pension. However, the condition for this is that the employee had fulfilled the conditions required for pension before death.