Pension

Employee's Family Pension Scheme, 1971, offers for a Family Pension to the family of deceased employee as per the following rates:

Pay for month                                    Rate

Rs 800 or more                                   12% of the basic subject to a highest of Rs.150 as monthly pension.

More than Rs 200 but                          15% of the basic subject to a highest of Rs 96 and less than Rs 800 minimum of Rs 60 as                                                        monthly pension.

Rs 200 or less                                    30% of the basic subject to a minimum of Rs. 60 as monthly pension.

This system also provides for the payment of a lumpsum amount of Rs 4,000 to a worker on his retirement as retirement benefit & a lumpsum amount of Rs 2,000 in the event of death of a worker like life insurance reimbursement.