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Employees of the Central Provident Fund Organization will now get more returns on their deposits. Last Friday, a meeting was held under the chairmanship of Union Minister Mansukh Mandaviya. In the meeting, many important decisions related to EPFO ​​​​and EPF were taken. In the same meeting, the Central Board of Trustees approved investing in exchange-traded funds to give better returns to the employees to increase their income.

According to reports, to give more benefits to the employees, the CBT has approved depositing 50 percent of the amount deposited in their ETF in Central Public Sector Enterprises and Bharat 22 Fund for at least 5 years. Apart from this, the remaining amount will be invested in government securities and corporate bonds, due to which it is expected that the employees will get high returns on PF.

EPFO ​​Amnesty Scheme 2024 recommended

Amnesty Scheme 2024 was recommended by the CBT in the meeting. Apart from this, to help the employees financially and to reduce complaints from them. For this, the board has also decided to make some improvements to the EPF Scheme 1952. Under this, till now the claims were settled by the 24th of every month. Interest was given to them only till the end of the previous month, but the board has changed this rule. No interest will be given till the date on which the claim is settled.

The decision also came on the auto claim and EDLI.

The government has taken another decision in favor of PF employees, under which now the limit of auto claim has been increased from 50 thousand to 1 lakh rupees. Now money can be taken in advance for marriage, building a house. Apart from this, a decision was also taken in the meeting on EDLI. Its benefits have been approved to be implemented before 28 April 2024. Under this, the minimum insurance benefit will be Rs 2.5 lakh and maximum up to Rs 7 lakh.