Employees Old-Age Benefits

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Category - Senior Citizen Pension plans

EOB Act 1976 provides compulsory social insurance. It extends Old-Age Benefits to insured persons or their survivors

Under EOB Scheme, Insured Persons are entitled to benefits such as,
- Old-Age Pension (on the event of retirement),
- Invalidity Pension (In case of permanent disability),
- Old-Age Grant (an Insured Person attained superannuation age, but does not posses the minimum threshold for pension)
- Survivors Pension (in case an Insured Person is expired)

Pension Rates:

Minimum Rs. 8,500
Maximum as per formula
= (Average Minimum Monthly Wages x No. of years of Insurable Employment) / 50

Contributions:
Employer contributions




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