Top News

EPFO: Employees are provided the facility of a salaried and EPF account to secure their future after retirement. Every month 12 percent of the basic salary of the employees is deposited in the PF account and the same amount is deposited by the company. Let us tell you that the employees get pension in future from the amount deposited in the PF account. If they want, they can also withdraw some money from this account in between during an emergency.

These facilities are provided by EPFO

EPFO provides many facilities to the employees in their EPF account, one such facility of EPFO ​​is Loyalty cum Life Benefit, through this the employee can get a benefit of up to Rs 50 thousand, however for this the employees will have to fulfill some conditions.

How much money do you get?

Under this facility, benefits ranging from 20 thousand to 50 thousand rupees are available. Such PF account holders whose basic salary is up to 5 thousand rupees, they get a benefit of 20 thousand rupees, those with basic salary of 5001 to 10 thousand rupees get a benefit of 40 thousand rupees and those with basic salary more than 10 thousand rupees get a benefit of up to 50 thousand rupees.

What is …

The benefit of this facility will be given only to those PF account holders who have been depositing money in their PF account every month continuously for 20 years. If you have deposited money in it irregularly for 20 years, then you will not be given the benefit of this facility.

When do I get the money?

Under Loyalty cum Life Benefit, employees get this amount as bonus after retirement.

This is how PF balance will be checked

PF account holders can check the balance in their PF account through the Umang app, for this you will first have to download Umang F from the Play Store, after that you will have to register by entering your details, here you will see the option of EPFO, by going here you can see your PF balance by tapping the View Passbook option.