The FPF account number refers to the account that pertains to the pension funds for the family of an employee as part of the provident funds scheme. This scheme came into effect on 1st March 1971 and was initiated to provide pension funds to a family member of an employee on the event of his/her death during reckonable service. FPF is only processed if the employee dies during service or after the retirement period.
The FPF act of 1971 defines a family member as:
● Wife: In-case the FPF member is male.
● Husband: In-case the FPF member is female.
● Minor sons and unmarried daughters of the FPF member. Even if the individual has sons or daughters adopted legally before his / her death in service also comes into consideration.
The FPF account number is only available to employees who wish to and have availed the scheme. The rate of family pension is as displayed in the table below:
The full form of FPF is Family Pension Fund.The family pension fund is paid to any one family member as defined below:
● Widow or widower till the date of death or remarriage, whichever is earlier.
● If the above condition fails, then it’s paid to the eldest surviving minor son till he attains the age of 21.
● If both the above condition fails, then it’s paid to the eldest surviving unmarried daughter until she attains the age of 24 or marriage, whichever is earlier.
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