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EPFO Update: If you also work in an organized institution. Also, your PF is deducted, so there is good news for you. Hardly many account holders know that apart from loans and insurance, subscribers are also given additional bonuses Recently, the Provident Fund Organization is also going to prepare a list of beneficiaries getting additional bonuses. Let us tell you that the maximum amount of additional bonus can be up to Rs 50000. But there are lakhs of account holders who are not aware of this facility of EPFO. Also, despite being eligible, they are not able to take advantage of this facility. Let us know what is this special facility of EPFO... Bonus is counted on this basis Actually, this amount of additional bonus is provided to you by EPFO ​​through loyalty cum life benefit. For this, there are some conditions of the Provident Fund Organization (EPFO) which have to be fulfilled. For example, only those employees can avail the benefit of an additional bonus whose PF has been deducted for at least 20 years. Also, your basic salary is taken as the basis for how much bonus you will get. On this basis, your additional bonus is counted. The maximum bonus amount can be up to Rs 50000...
Calculate it like this.
According to the information, employees whose basic salary is Rs 5000 get up to Rs 30000 as an additional bonus. On the other hand, employees whose basic salary is Rs 10,000 get this amount of Rs 40000. On the other hand, the bonus amount on salary above this goes up to Rs 50,000. Let us tell you that the eligibility for getting a bonus is at least 20 years of service. Those who work for a shorter period cannot claim it..Bonus is given on retirement
.Let us tell you that the organization started the additional bonus after retirement. So that the employees can get the benefit of some extra money. If you have completed 20 years of service, then you can apply for an additional bonus as per your basic salary. You are also given the facility to apply online for an additional bonus.