There are several social security programs under the Employees’ Provident Fund Organisation (EPFO). EPFO has introduced a new initiative to facilitate Member Pensioner & Nominee /family members (in case of EDLI benefit) to calculate the eligible Pension & EDLI benefits.
The Employees’ Provident Fund Organisation has recently shared a tweet saying from the official Twitter handle saying, “Benefits of #Pension & #EDLI Calculator.”
The Benefits of EDLI Calculator are as follows:
- Generates awareness about eligibility for pension.
- Creates a sense of Social Security by providing a calculation of assurance benefits under the EDLI Scheme.
- Increase member satisfaction.
- Decreases the number of grievances.
EDLI benefits are available only to the family members/ nominee nominated by the member during his lifetime or to surviving family members in case of the death of the member while he was in employment.
The members are advised to file their e-Nomination and update at the same time in case of a change in the family so that in the sad event of his death the benefits are paid to the intended family member/ nominee through an online claim.
It is an easy-to-use online tool to calculate the EPS-1995 Pension. This version of the Pension Calculator will give results for member pension cases where the pension start date is on or after 01-04-2014, which is only under the Employees’’ Pension Scheme 1995. The benefits displayed are on wages up to the wage ceiling which is Rs 6500/- for up to 31-08-2014 and Rs 1500/- after that date.
The calculation is only illustrative and based on the data entered by the user. Hence, it may differ from the actual benefit processed by the office based on the data available in the EPFO database.
In case of any mismatch, the actual benefit processed by the EPFO office will be considered final. To know more about EPFO Benefits EDLI Calculator & Pension click here.