Do those working in the film industry also receive a pension? Find out what the rules are.
Do actors and technicians working in the Bollywood and TV industries receive a pension after retirement? Find out what the rules are.
Pankaj Dheer Death: Pankaj Dheer, a veteran Bollywood actor and the actor who played Karna in BR Chopra's popular TV serial Mahabharata, has passed away. He breathed his last on 14 october at the age of 68. Pankaj Dheer made a special place in the hearts of audiences with his brilliant acting in both films and TV. His passing has raised questions about how those working in the film and TV industries remain financially secure after their careers.
Information regarding the pension and retirement of actors, technicians, and staff who have worked in the industry for a long time is often discussed. Do long-term workers receive any pension? Do retired artists receive any financial security? Let's explain the details.
Do film industry workers receive a pension?
If the EPF Act, 1952, applies to employees working in film and television organizations, they receive social security benefits under EPF, EPS, and EDLI, provided they are covered employees and regular contributions are deducted. Pension under the EPS-1995 is only available if the employer-employee relationship, salary threshold, and minimum service/contribution requirements are met.
Film production units have specific rules for cine workers, such as working on three consecutive feature films. However, this pension does not automatically apply to freelancers, gig-based workers, or daily wage workers. Government pensions are only available to government employees.
What are the options for financial security?
It is important for those working in the industry to be cautious about their future. They can join various schemes by subscribing and making prescribed contributions. Many schemes also offer additional emergency coverage. Furthermore, some schemes also extend benefits to dependents or family members. Freelancers and self-employed artists can build a retirement fund through the National Pension System.
