Employees' Pension Scheme (EPS): This form must be filled to claim monthly or family pension
Form 10D is meant specifically for EPS, which will help the claimant withdraw money on monthly basis.
Employees' Provident Fund Organisation (EPFO) provides to its members an Employees' Pension Scheme (EPS), which serves as a security fund post-retirement. In case of demise it turns into a family pension. The process is simple - an employer contributes a total 12% to an employee’s account from which 8.33% is set for EPS account while remaining 3.67% in EPF account. Some benefits of having EPS are that, upon death of an employee, family members are eligible for pension. EPS is a long term savings scheme and is among the most popular investment options in India as the scheme offers guaranteed returns on investments.
Those who want to claim EPS on monthly basis or as a family pension must fill Form 10D. Details which are required to be furnished can be generated from EPS scheme certificate.
Form 10D is meant specifically for EPS, which will help the claimant withdraw money on monthly basis.
Which pensions are eligible under Form 10D?
Superannuation Pension: By member on attaining 58 years age, whether in service or not.
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Reduced Pension: By member after the age of 50 years but below 58 years and having left service.
Disablement Pension: By member on leaving service on account of total and permanent disablement.
Widow & Children Pension: By family (spouse and children) on death of the Member.
Orphan Pension: By surviving son/daughter (of age up to 25 years as on date of death of member/spouse whichever is later) on the death or remarriage of the deceased member.
Nominee Pension: By nominee declared by the Member through his/her Form 2(R) in case the member had no family (Spouse and children).
Dependent Parent: By the dependent father and mother of the deceased member who died without a family (spouse and children) and failed to nominate a person for pension.
However, it needs to be noted that, a member who has completed 58 years of / claimant on behalf of a deceased member who died after the age of 58 years without completing the eligible service of 10 years should apply for Withdrawal Benefit through Form 10C.
A glimpse of Form 10D!
Details for Form 10D?
- The name must be mentioned in BLOCK LETTERS.
- Marital Status: Whether married/unmarried/widow/widower/Divorcee.
- Date of Birth: In dd/mm/yyyy format.
- Father’s Name and in case of a married female member, Husband’s name in BLOCK LETTERS.
Hence, if you are planning to claim EPS, take note of above factors.
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