Sunday 7 December 2014

EMPLOYEES' FAMILY PENSION SCHEME EFPS 1971 & EMPLOYEES' PENSION SCHEME EPS 1995

All private Sector employees whose provident fund is deducted are eligible for compulsory contributory pension scheme. But it is observed that majority of these employees are not aware of this benefit . Some portion of the provident fund goes to pension fund. Minimum eligibility for pension is ten years. Even if employee changes several jobs during his career, he will get this pension provided he does not withdraw provident fund after job change. If some employee withdraws provident fund before ten years, he gets his pension fund contribution also back. The original circular is reproduced below (7 pages)
You are requested to convey this to your friends and relatives for public awareness.