EPFO Update: PF account holders get not 1-2 but 7 types of pension, most people are not aware of it..

EPFO Pension Provident fund is a safe investment option for employed people. Every month, 12 percent of the basic salary of employees is deposited in PF, to which the company also adds the same amount. Out of the 12 percent amount deposited by the employee, 8.33 percent goes to the Employees' Pension Scheme (EPS), while 3.67 percent is deposited in EPF.

Employees get a pension from this fund after retirement. If they want, they can withdraw the entire fund at once at the time of retirement. Apart from this, there is also an option to withdraw some amount before retirement during an emergency. EPFO ​​​​(EPFO Update) provides 7 types of pension facilities to employees on PF, which ensures their financial security. This system provides financial support to the workers even after retirement, so that they can live a better life.

This pension facility-
After retirement-
This pension is normal, so it is given to the PF account holder after retirement.

Pension to parents-

On the death of a PF account holder, his dependent parents get a pension. After the death of the father, the mother gets pension.

Disabled pension-

If a PF account holder becomes disabled in an accident during service, then he is given disabled pension. No age limit has been set for this.

Early pension-

Such PF account holders who have crossed the age of 50, but still have time left for retirement. Also, if they are associated with a non-EPF company, then they are entitled to get early pension. However, in this case, they get 4 percent less pension than the pension received after retirement.

Widow or child pension-

If the PF account holder dies, then pension is given to his wife and children. However, the age of the child should not be more than 25 years. For this also the age limit of the PF subscriber has not been fixed. (widow or child pension)

If the child is an orphan-

If a PF account holder and his wife die, then their two children are entitled to pension. The age of the children should not be more than 25 years.

Nominee pension-

If the PF account holder has filled the e-nomination form on the EPFO ​​​​portal and he dies, then his nominee has the right to get pension.

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