my sister's husband joined on 18 july 2016 at his office.. his gross salary was on payslip Rs.18000/- but basic pay is Rs. 9000/- & his PF was deducted approx. 1050-1085 per month. He died on 31st jan 2017 by heart attack in public place.
Now we had filled forms & given documents to his office along with dc & my sister's bank account details (Pension Ac & saving ac with cancelled cheques) as she was a nominee & my sister got a child born on 3sep 2017.
Now i want to know what kind of benefits she will get as like monthly pensions (how much), insurance amount if any (how much) & final claim amount if any (how much) & after completion of tenure of monthly pension will she get capital amount if any (how much) or final settlement amount.
& also will her child also get monthly pension if any (how much) & final amount if any (how much).
Please reply guys.
From India, Thane
2Now we had filled forms & given documents to his office along with dc & my sister's bank account details (Pension Ac & saving ac with cancelled cheques) as she was a nominee & my sister got a child born on 3sep 2017.
Now i want to know what kind of benefits she will get as like monthly pensions (how much), insurance amount if any (how much) & final claim amount if any (how much) & after completion of tenure of monthly pension will she get capital amount if any (how much) or final settlement amount.
& also will her child also get monthly pension if any (how much) & final amount if any (how much).
Please reply guys.
From India, Thane
Dear Luckysingh, sorry to note that Settlement of Death Claim is still pending for reasons best known to Employer concerned.Please peruse the attachments & contact Employer immediately.
Benefits consequent to Death while in Service:
1.Refund of PF Amount lying in member Account to Spouse
2. EDLI Benefit to Spouse for Death while in Service
3.EPS Pension for Spouse & Children(below 25 Years) from the Date of Death
4. If covered under ESI-Reimbursement of Funeral Expenses maximum upto Rs10,000/-
There is already inordinate delay, Please initiate action immediately
From India, New Delhi
Benefits consequent to Death while in Service:
1.Refund of PF Amount lying in member Account to Spouse
2. EDLI Benefit to Spouse for Death while in Service
3.EPS Pension for Spouse & Children(below 25 Years) from the Date of Death
4. If covered under ESI-Reimbursement of Funeral Expenses maximum upto Rs10,000/-
There is already inordinate delay, Please initiate action immediately
From India, New Delhi
I had mentioned that my sister had filled up all necessary forms & given to employer already but i just wanted to know the approx pension amount to be received by my sister & her child & whether there is capital paid after pension tenure in full & final settlement if any & insurance amount paid if any.
From India, Thane
From India, Thane
Pension fund is created with 3.67% of Salary (excluding HRA) contributed by the Employer each month. Pension calculation is done by the formula:
(Last drawn Basic Pay plus DA) x Reckonable period of service /70 - subject to a minimum pension of Rs.1000/-.
As far as PF is concerned, the accumulation in PF fund is refunded to the nominee.
From India, New Delhi
(Last drawn Basic Pay plus DA) x Reckonable period of service /70 - subject to a minimum pension of Rs.1000/-.
As far as PF is concerned, the accumulation in PF fund is refunded to the nominee.
From India, New Delhi
Dear Valluvan, Please elaborate your statement "Pension fund is created with 3.67% of Salary (excluding HRA) contributed by the Employer each month"
From India, New Delhi
From India, New Delhi
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Flexi Benefits Plan.doc