My sister's husband joined on 18th July 2016 at his office. His gross salary was on the payslip Rs. 18,000/-, but the basic pay is Rs. 9,000/-. His PF was deducted approximately Rs. 1,050-1,085 per month. He died on 31st January 2017 due to a heart attack in a public place.
Now, we have filled forms and provided documents to his office, along with the death certificate and my sister's bank account details (Pension Account and savings account with cancelled cheques) as she was a nominee. My sister gave birth to a child on 3rd September 2017.
I want to know what kind of benefits she will receive, such as monthly pensions (how much), insurance amount if any (how much), and the final claim amount if any (how much). After the completion of the tenure of the monthly pension, will she receive a capital amount if any (how much) or a final settlement amount? Additionally, will her child also receive a monthly pension if any (how much) and a final amount if any (how much).
Please reply, guys.
From India, Thane
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2Now, we have filled forms and provided documents to his office, along with the death certificate and my sister's bank account details (Pension Account and savings account with cancelled cheques) as she was a nominee. My sister gave birth to a child on 3rd September 2017.
I want to know what kind of benefits she will receive, such as monthly pensions (how much), insurance amount if any (how much), and the final claim amount if any (how much). After the completion of the tenure of the monthly pension, will she receive a capital amount if any (how much) or a final settlement amount? Additionally, will her child also receive a monthly pension if any (how much) and a final amount if any (how much).
Please reply, guys.
From India, Thane
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Dear Lucky Singh,
I am sorry to note that the settlement of the Death Claim is still pending for reasons best known to the concerned Employer. Please review the attachments and contact the Employer immediately.
Benefits consequent to Death while in Service:
1. Refund of PF Amount lying in the member's Account to the Spouse
2. EDLI Benefit to the Spouse for Death while in Service
3. EPS Pension for the Spouse & Children (below 25 Years) from the Date of Death
4. If covered under ESI - Reimbursement of Funeral Expenses, maximum up to Rs10,000/-
There has already been an inordinate delay. Please initiate action immediately.
From India, New Delhi
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I am sorry to note that the settlement of the Death Claim is still pending for reasons best known to the concerned Employer. Please review the attachments and contact the Employer immediately.
Benefits consequent to Death while in Service:
1. Refund of PF Amount lying in the member's Account to the Spouse
2. EDLI Benefit to the Spouse for Death while in Service
3. EPS Pension for the Spouse & Children (below 25 Years) from the Date of Death
4. If covered under ESI - Reimbursement of Funeral Expenses, maximum up to Rs10,000/-
There has already been an inordinate delay. Please initiate action immediately.
From India, New Delhi
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I had mentioned that my sister had filled out all necessary forms and given them to the employer already. I just wanted to know the approximate pension amount to be received by my sister and her child, and whether there is any capital paid after the pension tenure in full, and final settlement if any, and insurance amount paid if any.
From India, Thane
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From India, Thane
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The pension fund is created with 3.67% of the 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 the PF fund is refunded to the nominee.
From India, New Delhi
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From India, New Delhi
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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
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From India, New Delhi
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Flexi Benefits Plan.doc