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Important Provisions of the scheme

The Employees Pension Scheme-1995

The central government in November 1995 introduced the employees’ pension scheme 1995.

Contributions : For the pension scheme the employer contributions equivalent to 8.33% of the employee’s salary or Rs.541, whichever is less.

Benefits and Entitlements : The following benefits and entitlements are covered under this scheme :-

A) A member shall be entitled to :- 

  • Superannuation pension :- If you has rendered eligible service of 10 years or more then 10 years and retires on attaining the age of 58 years. 
  • Early pension :- If you have rendered eligible service of 10 year or more then 10 years then retires or otherwise ceases to be in employment before attaining the age of 58 years.

B) On permanent and total disablement during the services then a member shall be entitled to :-

  • A pension under the scheme.

  • Pension to the family in case of death of the member / employee.

  • While in service, provided that at least one month’s contribution has been paid into the employer pension fund.

  • After the date of exit but before attaining the age 58 from the employment.

C) Monthly children pension :- If there are any surviving children of the deceased member then falling within a definition of family and they shall be entitled to a monthly children pension in addition to the monthly for widow/widower pension.

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