Retirement Benefits for Private Sector Employee Gratuity & Pension Benefits
As per Employee Provident fund act 1952 government through EPFO provides various benefits to its members like interest on the contribution amount, facility of advance withdrawal in special cases, retirement benefit during the lifetime of the members.
The EPFO also provides death benefits to nominee of the EPF members in case of his death like PF settlement, lifetime pension benefits to dependent, term insurance of Rs. 7 Lacs (maximum). All this benefits are available online, but due to unawareness these benefits are not availed easily by the dependents.
For getting pension the all dependent must have bank account in one branch of any of the following banks –
1. State bank of India
2. Punjab National bank
3. ICICI Bank
4. HDFC Bank
5. Axis Bank
You need to file your pension claim by using Composite Claim Form or Form 10 D , As per the rule You can get minimum pension of Rs. 1000/- per month, You can get more information about the procedure in the video.
You will also get the information about Gratuity at the time of retirement.
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