EPF, EPS, EDLI & EPFO — Set 2
Labour Laws · EPF, EPS, EDLI और EPFO · Questions 11–20 of 200
Which form is used to claim EPS pension benefits after leaving service?
Correct Answer: B. Form 10C
Form 10C is used to withdraw the EPS (Employees' Pension Scheme) benefit when an employee exits service before completing 10 years. It allows the member to receive a scheme certificate or withdraw the pension contribution. Form 10D is used for claiming monthly pension after completing 10 years of service.
Which EPF form is used for partial withdrawal (advance) from the EPF account?
Correct Answer: C. Form 31
Form 31 is used for partial withdrawal or advance from the EPF account for specific purposes like medical treatment, house purchase, marriage, and education. Such withdrawals are subject to conditions like minimum years of service. The facility is available online through the UAN portal.
In which year was the Employees' Pension Scheme (EPS) introduced?
Correct Answer: C. 1995
The Employees' Pension Scheme (EPS) was introduced in 1995 by the EPFO. It replaced the earlier Family Pension Scheme of 1971. EPS provides monthly pension to employees upon superannuation, disablement, or to the family upon the member's death.
What percentage of employer's contribution goes to EPS?
Correct Answer: C. 8.33%
Out of the employer's 12% contribution, 8.33% is diverted to the Employees' Pension Scheme (EPS). The remaining 3.67% goes to the employee's EPF account. The EPS contribution is calculated on a wage ceiling of Rs 15,000.
What is the minimum monthly pension under EPS?
Correct Answer: C. Rs 1,000
The Government of India enhanced the minimum EPS pension to Rs 1,000 per month in 2014. This was a significant social security measure for retired workers. However, trade unions and workers have long demanded an increase to Rs 3,000–7,500 per month.
At what age can an EPS member claim full pension?
Correct Answer: B. 58 years
An EPS member is eligible to receive full monthly pension upon attaining the age of 58 years. Early pension can be claimed from age 50 at a reduced rate. The pension amount depends on the pensionable salary and the number of years of service.
What is the minimum service period required to claim EPS pension?
Correct Answer: C. 10 years
A minimum of 10 years of eligible service is required to claim monthly pension under EPS. Employees who leave service before 10 years can withdraw their EPS contribution using Form 10C. The formula for pension calculation is: (Pensionable Salary × Pensionable Service) / 70.
What does EDLI stand for?
Correct Answer: B. Employees' Deposit Linked Insurance
EDLI stands for Employees' Deposit Linked Insurance Scheme. It was introduced in 1976 to provide life insurance cover to EPF members. In the event of death of an employee while in service, the nominee receives a lump sum insurance benefit.
What is the maximum insurance benefit available under EDLI?
Correct Answer: D. Rs 7 lakh
The maximum insurance benefit under EDLI was enhanced to Rs 7 lakh in 2021. This benefit is payable to the nominee or legal heir of an EPF member who dies while in service. The minimum EDLI benefit is Rs 2.5 lakh, ensuring a basic floor for all members.
Who contributes to the EDLI scheme?
Correct Answer: B. Employer only
Only the employer contributes to the EDLI scheme at the rate of 0.5% of the employee's basic wages. There is no contribution from the employee towards EDLI. The scheme is entirely funded by employer contributions and provides life insurance cover to all EPF members.