Thu. Apr 18th, 2024
EOBI Pension Increase in Budge for Employer 2024

EOBI Pension Increase in Budge 2024

EOBI is a program designed for people working in private companies or industries. Created on 01 April 1976 under the EOBI Act, 1976. It was made to achieve the objectives of Article 38C of the Constitution.

It is a social insurance program designed to provide benefits to those people. who die in old age or young age and provide benefit pension to their dependents. This pension is generated by insurance. EOBI is a trusted organization in Pakistan, leading in the service of humanity. EOBI stands for Employees Old Age Benefit Institution.

EOBI نجی کمپنیوں یا صنعتوں میں کام کرنے والے لوگوں کے لیے ڈیزائن کیا گیا ایک پروگرام ہے۔ EOBI ایکٹ 1976 کے تحت 01 اپریل 1976 کو تشکیل دیا گیا۔ اسے آئین کے آرٹیکل 38C کے مقاصد کے حصول کے لیے بنایا گیا تھا۔

یہ ایک سماجی انشورنس پروگرام ہے جو ان لوگوں کو فوائد فراہم کرنے کے لیے ڈیزائن کیا گیا ہے۔ جو بڑھاپے یا جوانی میں مر جاتے ہیں اور اپنے زیر کفالت افراد کو بینیفٹ پنشن فراہم کرتے ہیں۔ یہ پنشن انشورنس کے ذریعے حاصل کی جاتی ہے۔ ای او بی آئی پاکستان میں ایک قابل اعتماد ادارہ ہے جو انسانیت کی خدمت میں پیش پیش ہے۔ EOBI کا مطلب ہے ایمپلائز اولڈ ایج بینیفٹ انسٹی ٹیوشن۔

Benefits of EOBI

EOBI aims to benefit the elderly persons or their family members who are working in private companies, industries, or factories and are not able to do any work when they become old.

The government has created the EOBI program under which these people are given monthly pensions. So that he can live his life happily.

Illegal Pension

An illegal pension is a pension for persons who have become disabled. These are people who have become permanently disabled.

You can also register for BISP Benazir Nashonuma Program

 

EOBI Pension Increase in Budge for Employer 2024

Participation

This Program never takes financial assistance from the Government to carry out its functions. Employers of industrial and commercial organizations have to pay at least 5% of wages to EOBI. Employees working in factories and industries have to deposit one percent to EOBI.

EOEB provides the following benefits to the insured person or his dependents An insured person is generally entitled to receive a pension on attaining the age of 60 years or after completing 15 years of the insured policy.

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Pension Under EOBI is Paid After Retirement

If the insured person dies, then the pension is paid to the nominees of the insured person. The teachings that Islam teaches us are that old parents and widows are included in the pension program to support their lives.

If the employee dies at an early age, the program provides pension to the parents of the deceased for up to five years. This program is responsible for providing lifetime residual pension to the widow if the employee dies after completing insurance service. If the widow of the insured person remarries, the children of the deceased will continue to receive the pension. Under this, many people have benefited and changed their lives.

The institution also provides grants to those senior citizens who have attained retirement age but do not meet the minimum threshold at the time of pension.

An employed person is paid a minimum pension of Rs 8,500 after fulfilling all the criteria. It is provided under the revised scheme.

Eobi beneficiaries list

In this list, you will be told all the details related to pension.

CategoryDisbursed Pension in Million RsPercentage share in total pensionNo. of beneficiaries
Old age pension74778.8141330
Survivors pension18719.652782
Invalidity pension80.94825
Old age grant60.73776
Total948100202,707