It is very important for any person to be financially stable. In such a situation, every person should make arrangements for investment or pension for himself and his family in advance. Schemes are run by the Government of India to get pension. There are also some such schemes, where people keep their and their family’s future secure by investing. One of these schemes is also family pension.
People working in any organized sector are given pension after 60 years. 12% of DA from the salary of the people is deposited in their pension fund every month and the same contribution is made by the employer as well.
When a person retires, then a fixed amount of pension is given to the person but if the person dies due to any reason. In such a situation, pension is given to the family members of the person. Only the person who has been working in a company for 10 years is entitled to get this pension.
Who is entitled to family pension?
Criteria has been set by EPFO to get family pension. According to this criteria, there is a provision to give family pension to the wife or husband of a person after his death. In this provision, two children are also given benefit, if the age of the children is less than 25 years, then in such a case, both the children are given 25-25 percent of the pension.
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At the same time, 50 percent share is given to the wife. After the death of the person, if his partner gets married again. In such a situation, the pension given to children increases from 50 percent to 75 percent. If children are physically disabled, they are given pension for their entire life. Apart from this, if the person is not married, then after death, the person’s parents also get pension benefits.