Full formGovernment & Exams
PYMstands forPension Yojana for Minors
Full Form of PYM
What is PYM?
Pension Yojana for Minors (PYM) is a social security scheme administered by the Employees' Provident Fund Organization (EPFO) in India under the Employees' Pension Scheme, 1995. It provides a monthly pension to the minor children of a deceased member of the Employees' Provident Fund (EPF) until they attain the age of 25 or get married, whichever is earlier. The scheme ensures financial support for the education and upbringing of children who lose their earning parent. It is typically invoked when the deceased member had contributed to the EPS and leaves behind no spouse or the spouse is also deceased. The pension amount is calculated based on the member's eligible service and average salary. PYM is widely used by families of government and private sector employees covered under EPF. For UPSC, SSC, and banking exams, PYM is a relevant topic under social security and labour welfare schemes in India. The application process requires submitting death certificates and family details through the EPFO portal or offline offices.
PYM का फुल फॉर्म
माइनर के लिए पेंशन योजना
Example
After her father's sudden demise, Shalini's mother applied for PYM to secure a monthly pension for her minor brother until he completes his education.
PYM — frequently asked questions
What is the full form of PYM?
The full form of PYM is Pension Yojana for Minors, a government scheme under EPFO that provides monthly pension to minor children of deceased EPF members.
Who is eligible for PYM benefits?
Minor children (below 18 years) of a deceased EPF member who was covered under the Employees' Pension Scheme, 1995, and left behind no spouse or the spouse is also deceased, are eligible for PYM pension until age 25 or marriage.
How to apply for Pension Yojana for Minors?
The application can be submitted online through the EPFO portal (Form 10C or 20) or offline at the nearest EPFO office, along with the death certificate, birth certificates of children, and bank details of the guardian.