Tuesday, January 31, 2023

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EPFO news: Big steps towards security of widows, orphan! Know how to take advantage of EPS 95 account

EPFO news: There is big news for EPFO account holders. The Central Government has been continuously taking steps in the interest of EFFO account holders and is running several schemes. These schemes are very useful in improving the economic condition of the employed and salary class people and in times of trouble. It is to inform you that EPFO currently has more than six crore subscribers and 75 lakh pensioners across the country.

The Ministry of Labor is running a scheme named EPS-95 for EPFO account holders. Under this (EPS) account holders get minimum monthly pension. EPFO has tweeted about this scheme and informed its account holders to get benefit of the scheme.

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EPS-95 scheme (EPFO news)

According to the committee, the EPS-95 scheme covers the account holders as well as their widowed male or female as well as children. Under this scheme, if an account holder dies during his job, then his spouse is given a minimum monthly pension of ₹ 1000. If a pensioner dies, his or her spouse is also covered. Under this, half of the pension that the pensioner was getting i.e. 50 percent is given to the widowed man or woman.

Not only this, on the death of the account holder, two children get an amount equal to 25 percent of the pension his or her spouse is getting. Both the children get an equal amount of 25-25 per cent till the age of 25 years.

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The committee has demanded that the minimum pension be increased from Rs. 1,000 to Rs. 7,500 coupled with the declaration of Dearness Allowance on a monthly basis.

If the minimum pension is not increased within 15 days, it warned a nationwide protest, including road and rail closures and a hunger strike.

The full name of this scheme is Employees Pension Scheme-1995. This scheme of EPFO was named EPS-95 because it was started in the year 1995.

Read More :- Latest Business News

 

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