PF Account Big Update: EPFO not only provides pension and insurance facility to its account holders, but also works to give bonus. EPFO works to give additional bonus to PF account holders.
EPFO not only provides pension and insurance facility to its account holders, but also works to give bonus. EPFO works to give additional bonus to PF account holders. The amount of this additional bonus can be up to 50 thousand rupees. Although some rules have been set to get it, it will be necessary to fulfill them. Let us know how you can get 50 thousand rupees of bonus.
How to get Bonus
The amount of Additional Bonus is given by EPFO to any employee through loyalty cum life benefit. PF account holders who have deposited money in their account for the last 20 years get its benefit. Let us tell you that the amount is fixed according to the basic salary. PF account holders whose basic salary is up to 5 thousand rupees.
They get an additional bonus of up to Rs 30,000 on retirement. So at the same time, the salaried people who get basic salary from 5 thousand to 10 thousand get additional bonus of up to 40 thousand rupees. At the same time, the EPFO department gives an additional bonus of 50 thousand to those whose basic salary is more than 10 thousand rupees.
What is the new rule
If an employee becomes completely disabled before 20 years, then they are exempted from this condition. Additional bonus is given to such employees on retirement. However, earlier the additional bonus was fixed according to the basic salary. EPFO still follows that rule.