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EPFO Pension Rules: EPFO is a government body which comes under the purview of the Ministry of Labor and Employment of the Government of India. Every employee working in the organized sector has an account in EPFO.

Pension Under EPS-95: EPFO provides the benefit of Employee Pension Scheme to those who have EPF account.

Pension for EPF Members: EPFO i.e. Employees Provident Fund Organization provides social security to those working in the organized sector in India. Under this, benefits like provident fund, insurance and pension are given. EPFO is a government organization, which comes under the purview of the Ministry of Labor and Employment of the Government of India.

Every employee working in the organized sector has an account with EPFO. In which 12% of the basic salary and dearness allowance is deposited every month and the same contribution is made by the company every month.

Out of the monthly contribution made by the company, 8.33% is deposited in the Employees Pension Scheme, also known as Pension Fund, and 3.67% goes to the Employees Provident Fund, or EPF. After leaving the job, EPFO gives pension to the employees at the time of retirement.

EPFO provides the benefit of Employees' Pension Scheme to those who have an EPF account. Under this scheme, employees in the organized sector start getting pension after retirement at the age of 58 years.

To avail the benefits under the Employees' Pension Scheme (EPS), a person has to fulfil the following criteria:

• He should be a member of EPFO
• He must have completed 10 years of service.
• he is 58 years old
• He can withdraw his EPS at the reduced rate even after completing the age of 50 years
• He can also defer his pension for two years (till age 60) after which he will receive pension at an additional rate of 4% for every year.
• Members who have contributed to the Employees' Pension Scheme (EPS) will get continuous income through pension.

EPFO has divided pension into several categories. If you also work in the private sector and are an EPFO member, then this information is very important for you.

If an employee works in the organized sector for 10 years or more and retires after the age of 58 years, then he gets the benefit of superannuation pension i.e. retirement pension. The amount of pension depends on the total contribution made to the pension fund.

Usually EPFO gives pension from the age of 58, but if a member is entitled to pension and retires before the age of 58, then he can claim early pension after the age of 50. However, in early pension, the pension given to EPFO members is reduced by 4 percent every year.

Disability pension under EPS 95 provides financial assistance to those members who become permanently or completely disabled during their service. For such members, the age and contribution to the pension fund for 10 years condition does not apply. If a member has contributed to EPS for even two years, then he is entitled to this pension.

If an EPFO member dies prematurely, in such a situation EPFO provides financial assistance to his partner. EPFO gives monthly pension to the life partner of the member. Apart from this, under EPS 95, his two children are also entitled to get monthly pension till the age of 25 years. So that the education and upbringing of the children can be done better.

If an EPFO member dies and his/her life partner also dies, then in such a situation two children below the age of 25 years are entitled to orphan pension. But this pension is available to the children only till they turn 25 years old.

If an EPFO member does not have a wife or children, then in such a situation, on the death of the EPFO member, the person whom he has made a nominee is given pension. For example, if he has made his parents nominees, then after his death, both are given half the pension. If he has made only one person nominee, then the entire pension is given to that nominee.