EPFO Rules on Interest: Losing a job is a difficult time for anyone. At such a time, the biggest concern is what will happen to the savings deposited in PF for the future ? Will the interest on it stop now? This question arises in the mind of almost every employee. If you are also worried about this question, then let us tell you that EPFO ​​has made it clear that even if you lose your job, money will keep coming into your PF account.

Till when will we get interest on PF money?
EPFO rules clearly state that if a person leaves his job or loses his job, then interest will continue to be paid on the amount deposited in his PF account. This interest is paid till the member reaches the age of 58 years. This simply means that your money will not lie idle but will keep growing with time.

सदस्य ध्यान दें!
नौकरी छोड़ने के बाद भी आपकी पीएफ राशि पर 58 वर्ष की आयु तक ब्याज मिलता रहता है। निश्चिंत रहें, आपका भविष्य सुरक्षित है।#EPFOwithYou #EPFO #EPF #HumHainNa #ईपीएफ #पीएफ #EPFIndia pic.twitter.com/O7C8TnKXQz

— EPFO (@socialepfo) September 9, 2025

It is important to note that after the completion of 58 years of age, if the money is lying in the account, then interest on it stops. After this age, the government assumes that the person has retired and he should withdraw his money.

How to check your PF balance?
You can check your PF (Provident Fund) balance very easily. The easiest way is to give a missed call or send an SMS to 9966044425 from your registered mobile number. For this, you have to send EPFOHO UAN ENG to 7738299899, ​​and you will get your balance information in a few moments. Apart from this, you can check your balance by visiting the EPFO ​​Member Passbook website and logging in with your UAN and password. If you are a smartphone user, you can also check your PF passbook and claim status by downloading the UMANG app and going to the EPFO ​​section.

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The first job is special for everyone. When you start your first job, there are many things in your mind. How will the office be, how will the boss be. But there are some things which are important for your benefit in the future.

The first job also includes an important task related to EPFO. Ignoring which can be harmful. When the PF account is opened in the first job, you are also issued a UAN i.e. Universal Account Number.

This number is used to manage the PF account. Only after getting UAN, you can view and manage your PF balance, contributions and claims online. That is, all your work is done through UAN only.

Through UAN, your PF account remains continuously linked to every job. If you change jobs in the future, your PF account is automatically transferred to the new job. This keeps the money deposited and safe and you do not need to manage different accounts.

When you first start working, it is important to activate your UAN. Companies now get their employees’ UAN made as quickly as possible and give them the details. After that, it is your job to activate the UAN.

To activate UAN, you have to go to https://unifiedportal-mem.epfindia.gov.in/memberinterface /. Here you have to do OTP verification from the mobile number registered in your Aadhaar. After this, you have to set the password.

When your UAN is activated, you can view your account information from the online portal or mobile app. This includes balance, record of previous jobs and withdrawal status. Without activating UAN, you cannot do any work related to PF account.

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However, on January 1, 2025, there will be changes in the savings of salaried people in the form of major government schemes as well as EPFO ​​​​rules.

See below for more details on the major financial changes that will take place from January 1, 2024.

Jet Fuel Prices

Aviation fuel prices are revised by oil marketing companies on the first of every month. ATF or Air Turbine Fuel forms a major part of the cost of air tickets. OMCs raised ATF prices by Rs 1,318.12 per kilolitre on December 1, 2024. Similarly, ATF prices in Delhi and Mumbai increased by more than 3 per cent in November 2024.

LPG Cylinder Price Revision

The Centre has capped the prices of domestic LPG cylinders at Rs 803 per 14 kg cylinder, but commercial LPG cylinder prices have been hiked by OMCs in successive months. The price of 19 kg commercial LPG cylinder was hiked by Rs 15.5-16.5 per cylinder on December 1, 2024. Commercial LPG prices have increased by Rs 173 per cylinder in the last 5 months. These hikes can make eating out expensive.

Agricultural loan without collateral

The people of the farming community are going to get a big gift, as the Union Cabinet has approved the budget for loans without collateral for the farming community. From January 1, 2024, farmers will be able to take loans without collateral up to Rs 2 lakh, whereas earlier this limit was Rs 1.6 lakh. These loans are expected to meet the loan needs of farmers during the agricultural season.

Change in stock market expiry rule

The stock market expiry rule will change for BSE Sensex, Sensex 50 and Bankex indices from January 1, 2024, expiry will start on Tuesday from this date. Earlier, these indices used to expire on Friday. This rule will be applicable on quarterly and half-yearly contracts on the last Tuesday of the respective month. Under the new rule, the expiry of Nifty 50 monthly contract has been shifted to Thursday.

UPI 123Pay transaction limit

As per the RBI notification, from January 1, 2025, UPI 123Pay users will be able to make high-value online payments using feature phones. RBI has increased the limit for these transactions from the earlier Rs 5,000 to Rs 10,000.

Change in EPFO ​​pension rules

EPFO ​​pensioners will be able to withdraw their pension from any bank in India. Its aim is to make withdrawal easier for pensioners. Apart from this, pensioners will not need to submit any additional verification for withdrawal.

GST rule changes

Businesses will have to adopt multi-factor authentication to access the GST portal from January 2025. This is an improved security feature that includes additional verification using one-time passwords or OTPs. Apart from this, companies will be able to issue e-way bills only for transactions made in the last 180 days. To prepare for these changes, companies will have to update their contact details.

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In which 8.33% goes to the pension fund and 3.67% goes to the PF account. Often a question comes in the mind of many people. If a PF account holder works for 60 years. Then how much pension will he get after 60 years. What are the rules of EPFO ​​regarding this. So let us tell you its complete calculation.

EPFO rules regarding pension

According to EPFO ​​rules, if someone invests in a PF account for 10 years, he becomes eligible to get pension. After 50 years, a PF account holder can claim pension. But if he claims pension before 58 years, then there will be a deduction of 4% every year. That is, if someone claims pension at the age of 54, then there will be a deduction of 16%.

But if someone does not claim pension even after 58 years, then at the age of 60, he will get 8% more pension at the rate of 4% increase every year. Let us tell you that under the current rules of EPFO, the maximum limit of pensionable salary is Rs 15000. That is, every month only Rs 15000 X 8.33/100 = 1250 can be deposited in your PF pension fund.

After 60 years, you will get this much pension

If you started working at the age of 23 and you are retiring at the age of 58, then you have worked for a total of 35 years. Under the old pension scheme of EPFO, the maximum pensionable salary is Rs 15,000. When any employee leaves UPS, his pensionable salary for the last 60 months is his average monthly salary.

It will be calculated like this:

Pensionable Salary X Pensionable Service/70 = Monthly Pension

15000 X 35/70 = 7500

On the other hand, if you do not claim pension till the age of 8 years, then you get pension at an extra rate of 8 percent.

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If you also work in the private sector and are an EPFO ​​member, then you must have this information.

Early Pension

Usually EPFO ​​gives pension from the age of 58 years, but if a member is entitled to pension and wants to get pension before the age of 58, then he can claim after the age of 50 years. EPFO ​​has also made a provision for early pension. However, in early pension, the pension of EPFO ​​​​members is reduced by 4 percent every year. That means if someone has to get a pension of Rs 10,000 at the age of 58, then on claiming at the age of 57, it will be reduced by 4% i.e. Rs 9,600 and at the age of 56, it will be reduced by 8% i.e. Rs 9,200 as pension.

Retirement Pension

Retirement pension is the pension that is given to you by EPFO ​​after you turn 58 years old. The amount of pension depends on your total contribution to the pension fund. If you want, you can claim pension after 58 years up to 60 years. In such a situation, EPFO ​​increases the pension of members by 4 percent every year.

Disability Pension

This pension is given when a person becomes temporarily or permanently disabled during service. For this, the condition of age and contribution to the pension fund for 10 years does not apply. If a subscriber has contributed to EPS for even two years, then he is entitled to this pension.’

Widow or child pension

After the death of an EPFO ​​subscriber, his wife and two children below the age of 25 years are entitled to pension. The third child is also entitled to pension, but when the pension of the first child stops at the age of 25, then the third child’s pension will start. The 10-year rule of pension does not apply even in the event of the death of an EPFO ​​subscriber. If a subscriber has contributed for even one year, then on his death his widow and children will be entitled to pension.

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Orphan Pension

If the wife of an EPFO ​​subscriber dies along with his death, then two children below the age of 25 years are entitled to pension. For such a situation, EPFO ​​has a provision of orphan pension. But this pension will be available to the children only till the age of 25 years.

Nominee Pension

In case the EPFO ​​member does not have a spouse or child, on the death of the EPFO ​​member, the nominee appointed by him receives this pension. If the EPFO ​​member has made both his mother and father as nominees, then in such a situation both will get the pension amount according to the fixed share. If only one person is made the nominee, then the entire amount will go to the nominee.

Dependent Parents Pension

Under EPFO, if a single EPFO ​​subscriber dies, then his dependent father is considered entitled to pension. If the father dies, then the subscriber’s mother gets the pension. She gets pension for life. For this, Form 10D has to be filled.

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To avail pension, an EPFO ​​member has to make continuous contributions for 10 years. Pension is calculated on the basis of service along with contribution amount. EPAO also gives the option of Early Pension to its members. This means that users can avail pension even before 58 years of age.

Early Pension Rules

According to EPFO ​​rules, employees between 50 and 58 years can choose the option of Early Pension. Let us tell you that the pension amount reduces if you take pension before 58 years. According to the rules, for every year before 58 years of age, the pension amount will be reduced by 4%. Understand it this way, if you have claimed for Early Pension at the age of 56, then you will only get 92% of the basic pension amount as pension. You will get 4% reduction every year, i.e. 8% reduction in 2 years.

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For early pension claim, you have to fill the Composite Claim Form and choose the option of Form10D.

Pension will increase at the age of 60

If an employee does not take the benefit of pension even after 58 years and takes pension after 60 years, then he gets increased pension. According to the rules of EPFO, if an employee stops pension for two years after 58 years, then he is given the benefit of additional pension at the rate of 4 percent every year. That is, at the age of 60, he gets pension at the rate of 8 percent extra.

You can also withdraw money from pension fund

If you have contributed to EPFO ​​for a period of less than 10 years, then you will not get the benefit of pension. In such a situation, the question arises that what will happen to the pension fund? The answer is that if you do not want to do the job, then you can make a full withdrawal from the pension fund. At the same time, if you do a job again in the future, then you can take a Pension Scheme Certificate. On joining the job again, with the help of this certificate, you have to link the previous pension account to the account of the new job. Now this will reduce the duration of the job by 10 years and you will also be entitled to pension.

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Employees’ Provident Fund Organization (EPFO) provides pension to its shareholders. The amount of pension a shareholder will receive depends on the contribution and age of the shareholder. EPFO starts giving pension when a subscriber completes 58 years of age and has contributed to EPFO ​​for 10 years. But, if a subscriber takes pension from EPFO ​​at the age of 60 years instead of 58 years, then he gets more pension. If you start taking pension at the age of 60 instead of 58, then you will get 8 percent more money as pension than the normal pension amount.

EPS is a pension scheme run by EPFO. Every month, 12 percent of the employee’s basic salary + DA is deposited in the PF account. The employer’s contribution is also the same. Out of this, 8.33% amount goes to the employee’s pension fund (EPS Fund) and only the remaining 3.67% amount goes to the PF account. EPFO has explained about the rules related to pension in an X post.

Check out our informative video on member pension benefits provided by EPFO! 👇https://t.co/qPvJMabJXr #MemberPension #EPS95 #HumHaiNa #EPFOwithYou #EPF #EPFO #ईपीएफओ #ईपीएफ pic.twitter.com/AKqzYnX97H

— EPFO (@socialepfo) April 5, 2024

According to EPFO ​​rules, any employee who contributes to EPFO ​​and has completed 10 years of service, becomes eligible to receive pension. If the total period of employment is less than 10 years, then the amount deposited for pension can be withdrawn anytime in between. Employees who have completed service period of 10 years or more are given pension from EPFO ​​after retirement i.e. from the age of 58.

Why is higher pension given?

EPFO ​​provides the facility to take higher pension at the age of 60 to encourage the subscribers to contribute more. Shareholders can deposit money in EPFO ​​pension fund till the age of 60 years. EPFO subscriber can get pension even after turning 50 years of age and contributing for 10 years.

You will get less pension.

If your 10 years of service period has been completed and your age is between 50 years to 58 years, then only you can claim for early pension. But in this you get less pension. The earlier you withdraw the money before the age of 58, the pension you will get will be reduced by 4 percent for every year. Suppose a person withdraws monthly pension at the age of 56, then he will get only 92 percent (100% – 2×4) of the basic pension amount.

If you are below 50 years of age,

if you have completed 10 years of service and your age is below 50 years, then you cannot claim pension. In such a situation, after leaving the job, you will get only the funds deposited in EPF. Pension will be available from the age of 58 years.

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Every person needs money. Many times we have to take the help of loan for this. If you work in the formal sector, your PF is deposited every month. Many facilities are provided to PF members by EPFO, of which advance at the time of need is also one of them. However, some rules have been fixed for this, according to which you can withdraw advance from PF account. In this article we will know when and how much money you can withdraw from PF.

Rules for withdrawing money from PF 

From PF, you can withdraw money for buying land for the house, renovating the house, home loan, marriage of a family member or yourself, children’s education, loss of job, treatment of yourself or a family member. Let us know its rules.

• If any member of the family or yourself is admitted in the hospital for more than a month or has to undergo any serious illness or surgery. Then you can withdraw money equal to six months’ salary from your PF account. 
• Even if there is a marriage of a family member or oneself, money can be withdrawn from PF. However, the condition for this is that you must have completed 7 years in the job. You can withdraw money from PF only up to 50 percent of your contribution. 
• The facility to withdraw money from PF is given even after leaving the job. If for some reason your company is closed for more than 15 days or you have not gone to work for more than two months, then you can withdraw your entire share deposited in PF. 
• You can also withdraw advance from PF to buy a house. This advance can be maximum equal to your 36 months salary. The condition for this is that 5 years of service should be completed. 
• You can also withdraw money from PF to buy land for building a house and for repairing the house. This facility is available after five years of starting the job. You can withdraw money equal to 24 months’ salary to buy land to build a house and 12 months’ salary to refurbish the house. 
• To repay the home loan, you can withdraw money equal to 36 months’ salary. However, for this you must have completed 10 years in the job. 
• Advance can be withdrawn from PF to complete one’s own and children’s education. For this you should have completed 7 years of service. In this, you cannot withdraw more than 50 percent of your contribution. 

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As per EPFO ​​rules, 12 per cent of the basic income of the employee is deposited in the EPFO ​​account, out of which 8.33 per cent is set aside for pension account and 3.67 per cent for Employees’ Provident Fund (EPF). If an employee leaves his job or takes leave in between. So in that case do they lose their pension entitlement? You are being given information about this here.

As per EPFO ​​rules, the length of service of an employee is taken into account even if they take leave in between. In other words, if a person returns to his job after a gap of some years, his previous years of service will be added to his current tenure.

Explain that to take advantage of the pension scheme of EPF, it is necessary for the employee to work for at least 10 years. If an employee changes companies, his Unique Account Number (UAN) remains the same and his total working period is calculated net of any gaps in between.

Understand the terms of pension like this

If a person works for a company for 7 years and takes a break of one year, then works for another 4 years, then their total job span will be considered as 11 years. In this scenario, the employee will be entitled to EPF pension benefits. Also, if a person works for 9.5 years, he is eligible for a grace period of 6 months as per EPFO ​​rules, which is equal to 10 years.

This is how you can take advantage of the pension scheme

EPFO scheme is an important financial instrument for salaried individuals, as it ensures pension benefits after retirement. It is important to note that the requirement of length of service for pension eligibility is an important aspect that every EPFO ​​subscriber should be aware of. So, even if you are an EPFO ​​subscriber and you have left your job, you can still avail the benefits of the pension scheme by ensuring a total job tenure of 10 years or more.

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EPFO Rules: Private sector employees are also entitled to get pension every month after retirement from the central government. Employees working in the organized sector if they work for 10 years. In such a situation, pension is available every month after the age of 58 years. This is the reason that every month some money is deducted from the salary of the employees which is deposited in the PF account. To take advantage of this scheme, employees have to fulfill certain conditions.

According to the EPFO ​​​​rule, 12 percent of the basic salary + DA of the employees working in the private sector is deposited in the PF account every month. Out of which the entire share of the employee goes to EPF. Whereas 8.33 percent of the company goes to the Employees’ Pension Scheme (EPS). At the same time, 3.67 percent goes to EPF every month.

10 Year Completion Calculation

According to the rules of EPFO, after working for 10 consecutive years, the employee starts getting pension. The only condition in this is that the tenure of the job should be 10 years. 9 years 6 months service is also counted as 10 years. But if the tenure of the job is less than 9 and a half years, then it will be counted as 9 years only. In such a situation, the employee can withdraw the amount deposited in the pension account even before the age of retirement. As such, they are not entitled to pension.

What happens after a long gap?

Now the question arises that if the employee has worked in two different institutes for 5-5 years. In such a situation, will the employee get the benefit of pension? Sometimes there is a gap of two years between the two jobs, will that employee be entitled to pension? Sometimes people lose their jobs. Especially women take a break from their jobs due to their responsibilities. After some time start working again. In such a situation, how will his 10-year tenure be completed and how will he get the benefit of the pension scheme?

EPFO rules

After leaving an institution in the job, if there is a gap in the job, then there is no need to worry. In such a situation, whenever you start a job again somewhere, do not change your UAN number. With this, money will be transferred from your new company to the same account after changing the job. With this, the total tenure of your previous job will be added to the new job. In this case, you will not need to complete 10 years of employment again.

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New Delhi. EPFO Rules: If you are also a member of Employees’ Provident Fund Organization (EPFO), then this news is of great use to you. You must have heard about the Employees Deposit Linked Insurance (EDLI) scheme. Subscribers get free insurance up to Rs 7 lakh under this scheme. The purpose of this scheme is to provide financial security to the family member after the death of the PF account holder.

As for the benefits available under this scheme, EPFO ​​has made it clear that all those account holders of Provident Fund (PF) or Employees’ Provident Fund (EPF) are eligible for benefits under the Employees’ Deposit Linked Insurance (EDLI) scheme when they die. are on leave without pay (LWP).

Let us know the rules

EPFO ​​has said that if an account holder is on leave without pay (LWP) on the day of death and his monthly EPF or PF contribution is not coming in his provident fund account, he is still entitled to the benefit of this scheme. Just the EPFO ​​member needs to be in muster roll on the day of death and fulfill other conditions to claim the assured benefit.

While issuing a notification in this regard, the EPFO ​​said, “If a staff member was on leave without pay (resulting in no contribution being payable by the employer) or was absent for any other reason and died during the period, then Assurance benefit is admissible given the fact that no contribution was paid by the employer, provided he was in the muster roll of the company on the day of his death and satisfied the prescribed conditions.”

Employee does not get benefit EPFO ​​further said that many complaints have been received in this regard. Some offices are rejecting the claims saying that the PF contribution was not received during the last few days and hence EDLI benefit will not be available.

Verification to be done within 7 days While directing establishments not to harass the family members of the deceased PF account holder, the EPFO ​​said that proper verification should be done within 7 days and the family members should not be harassed.

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PPO number is very important

Actually, the PPO number is issued by the Employees’ Provident Fund Organization (EPFO) to the person retiring from any company. Without this pension cannot be received. That’s why it is very important to have it. In fact, the Employees Provident Fund Organization (EPFO) also provides the facility of checking salary status etc. from the PPO number given for the identification of the beneficiary. So let’s know the process of getting it back.

How to apply?

1. First of all go to the official website of Employees’ Provident Fund Organization https://www.epfindia.gov.in/site_en/index.php .
2. Now in the ‘Online Services’ section, click on the option of ‘Pensioners Portal’.
3. Now a new page will open in front of you. Here you click on ‘Know Your PPO No’.
4. Here you fill your bank account number in which your pension comes every month. If you want, you can also search by entering your PF number.
5. After filling all the details submit it.
6. After this you will see your PPO number on the screen.

PPO number is mandatory

This special 12-digit number works as a reference for you.
Through this, the Central Pension Accounting Office is contacted.
It is also easy to transfer your account from one bank to another branch by entering the PPO number in the pensioner’s passbook.
For any kind of pension related work or complaint, it is mandatory to give PPO number in EPFO.
It is very important to write this number even to see the pension status.

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EPFO has linked all the employees earning more than 15,000 salary to its pension scheme. Under this, 12 percent of the basic salary of an employee is deducted every month as PF. Along with this, the employer company also gives a similar 12 percent share to the employee as PF. This entire amount is deposited in the pension account of EPFO ​​every month. Which is received in the form of pension to the concerned employee at the time of retirement.

PPO number necessary for pension work

The Employees’ Provident Fund Organization (EPFO) allots a 12-digit Pension Payment Order (PPO) to every employee. Which is different for every employee. It is available to every retired employee who is covered by the pension scheme of EPFO. Through this important PPO number, pension status can be easily checked and pension amount can be withdrawn.

How to know PPO number

To know the PPO number, first of all login to the official website of EPFO ​​www.epfindia.gov.in . Then click on Pensioner Portal and after that Welcome Pensioner Portal tab will open. After this, on the right side of the Welcome Pensioner Portal tab, it will be written Know Your PPO Number. Enter your bank account number or your PF number by clicking on Know Your PPO Number.
After this, you will get PPO number, member ID and your pension status immediately.

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According to the government, increasing the speed of freight will help in increasing the growth rate of the economy and its expansion. The policy is likely to focus on various areas like process engineering, digitization and multi- modal transport . The move assumes significance as higher logistics costs adversely affect domestic products making them competitive in the international market.

Emphasis on reducing high cost

In this regard, an official statement issued on Friday said, the cost of logistics is high in India as compared to other developed economies, hence this policy is needed. To improve the competitiveness of Indian goods in both domestic and export markets, India It is imperative to reduce the logistics cost in The low cost of logistics improves efficiency in various sectors of the economy and encourages value addition and entrepreneurship, the statement said.

According to the statement, this policy is a comprehensive attempt to address the issues related to high cost and efficiency reduction by laying down a comprehensive inter-sectoral and multi-jurisdictional framework for the development of the entire logistics ecosystem. Under this policy, the target is to reduce the cost of logistics from about 13 percent of GDP to 7.5 percent in the coming years.

According to an estimate, a 10 percent reduction in logistics cost leads to an increase of 5 to 7 percent in exports. According to the commerce ministry, the logistics sector is quite complex, involving more than 20 government agencies, 40 participating government agencies and 37 export promotion councils.

What can be included in the policy

The key features of the policy will include integrated digital logistics system, ease of logistics, logistics related to import export and special parks. An empowered group of secretaries under PM Gatishakti will review the implementation of the policies. At the same time, a special group will consider the problems of the users. Road transport, shipping, railways, aviation, post, commerce and industry and finance ministries have been included in this policy.

How big is the logistics sector

According to the commerce ministry, 20 government agencies, 40 partner government agencies, 37 export promotion councils are involved in this sector. At the same time, it is a market worth about $ 160 billion with 10 thousand commodities. The sector includes 200 shipping agencies, 36 logistics services, 129 container depots, 168 container freight systems, IT ecosystem, banks and insurance agencies. At the same time, the sector is giving employment to 2.2 crore people.

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In this case there is a possibility of loss. Most of the members know the rules like insurance, pension, income tax deduction of Rs 7 lakh under EDLI scheme. But, apart from this, there is also a rule related to loyalty-cum-life benefit. In this benefit, the employee can get a benefit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to continue contributing to the same EPF account even after changing jobs.

Also, they can avail loyalty-cum-life benefits after contributing to the same account for 20 consecutive years. According to EPFO ​​expert Bhanu Pratap Sharma, the CBDT has recommended to extend the benefit of loyalty-cum-life benefit to account holders who have contributed to their EPF account for 20 years.

The Central Government has approved it. This means if one qualifies then he/she will get an additional benefit of Rs.50,000/-. Under the loyalty-cum-life benefit, people with a basic salary of up to Rs 5,000 will get a benefit of Rs 30,000. Those whose basic salary is between Rs 5,001 to Rs 10,000, they will get a benefit of Rs. The best way to avail this is to keep the EPFO ​​account open even if the EPFO ​​member changes jobs.

For this you have to inform your old employer and current employer. It is advisable not to withdraw PF during work. Retirement fund members may suffer losses including income tax. He also had pension benefits and loss of loyalty.

The post EPFO Rules: EPF account holder gets an additional bonus of Rs 50,000, check all details first appeared on Rightsofemployees.com.

Do you work in a company with less than 20 employees? Are you self employed? So soon you are going to get good news. You can also open an account in Employee Provident Fund Organization (EPFO) like employed people. Actually EPFO ​​has proposed to connect all the people working in organized sector with EPFO ​​and opening EPF account for those who are self-employed. For this, EPFO ​​has suggested to abolish the salary limit of Rs 15,000 and to do away with the rule of opening EPF account of employees of a company with more than 20 employees.

EPF account will open even if you are self-employed!

Actually, at present, to open an EPF account, it is necessary to have a minimum salary of Rs 15,000. Also, the EPF account of an employee of the same company can be opened where at least 20 employees work. But after amending this rule, self-employed people can also open EPF account. So all the employees working in the organized sector, even if there are less than 20 employees in the company, their EPF account can be opened after the amendment of the rule. Along with this, self-employed people will also be able to open their EPF account. EPFO is in talks with the state governments in addition to the stakeholders regarding this proposal.

The number of EPF account holders will increase!

If the proposal of EPFO ​​is agreed to, then the limit of salary will also end in addition to the headcount rule in the company to join EPFO. Doing this will help in increasing the number of EPF account holders to more than 5.5 crores. Along with this, self-employed will also be able to join the social security scheme. Not only this, EPFO ​​will be helped to increase their fund corpus, after which they will be able to increase the investment limit in the stock market from the existing 15 percent.

Enrollment will increase in social security scheme!

Let us tell you that EPFO ​​provides insurance benefits to the account holders for Employees’ Deposit Linked Insurance Scheme in addition to pension through Provident Fund through EPF, Employees’ Pension Scheme. Social Security Code 2020 also has a provision to provide retirement benefits of ESIC and EPFO ​​to organized sector workers, gig and platform workers. For this, necessary amendments have been asked through the notification.

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In this case there is a possibility of loss. Most of the members know the rules like insurance, pension, income tax deduction of Rs 7 lakh under EDLI scheme. But, apart from this, there is also a rule related to loyalty-cum-life benefit. In this benefit, the employee can get a benefit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to continue contributing to the same EPF account even after changing jobs.

Also, they can avail loyalty-cum-life benefits after contributing to the same account for 20 consecutive years. According to EPFO ​​expert Bhanu Pratap Sharma, the CBDT has recommended to extend the benefit of loyalty-cum-life benefit to account holders who have contributed to their EPF account for 20 years.

The Central Government has approved it. This means if one qualifies then he/she will get an additional benefit of Rs.50,000/-. Under the loyalty-cum-life benefit, people with a basic salary of up to Rs 5,000 will get a benefit of Rs 30,000. Those whose basic salary is between Rs 5,001 to Rs 10,000, they will get a benefit of Rs. The best way to avail this is to keep the EPFO ​​account open even if the EPFO ​​member changes jobs.

For this you have to inform your old employer and current employer. It is advisable not to withdraw PF during work. Retirement fund members may suffer losses including income tax. He also had pension benefits and loss of loyalty.

The post EPFO Rules: EPF account holder gets an additional bonus of Rs 50,000, check all details first appeared on Rightsofemployees.com.

In this case there is a possibility of loss. Most of the members know the rules like insurance, pension, income tax deduction of Rs 7 lakh under EDLI scheme. But, apart from this, there is also a rule related to loyalty-cum-life benefit. In this benefit, the employee can get a benefit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to continue contributing to the same EPF account even after changing jobs.

Also, they can avail loyalty-cum-life benefits after contributing to the same account for 20 consecutive years. According to EPFO ​​expert Bhanu Pratap Sharma, the CBDT has recommended to extend the benefit of loyalty-cum-life benefit to account holders who have contributed to their EPF account for 20 years.

The Central Government has approved it. This means if one qualifies then he/she will get an additional benefit of Rs.50,000/-. Under the loyalty-cum-life benefit, people with a basic salary of up to Rs 5,000 will get a benefit of Rs 30,000. Those whose basic salary is between Rs 5,001 to Rs 10,000, they will get a benefit of Rs. The best way to avail this is to keep the EPFO ​​account open even if the EPFO ​​member changes jobs.

For this you have to inform your old employer and current employer. It is advisable not to withdraw PF during work. Retirement fund members may suffer losses including income tax. He also had pension benefits and loss of loyalty.

The post EPFO Rules: EPF account holder gets an additional bonus of Rs 50,000, check all details first appeared on Rightsofemployees.com.

In this case there is a possibility of loss. Most of the members know the rules like insurance, pension, income tax deduction of Rs 7 lakh under EDLI scheme. But, apart from this, there is also a rule related to loyalty-cum-life benefit. In this benefit, the employee can get a benefit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to continue contributing to the same EPF account even after changing jobs.

Also, they can avail loyalty-cum-life benefits after contributing to the same account for 20 consecutive years. According to EPFO ​​expert Bhanu Pratap Sharma, the CBDT has recommended to extend the benefit of loyalty-cum-life benefit to account holders who have contributed to their EPF account for 20 years.

The Central Government has approved it. This means if one qualifies then he/she will get an additional benefit of Rs.50,000/-. Under the loyalty-cum-life benefit, people with a basic salary of up to Rs 5,000 will get a benefit of Rs 30,000. Those whose basic salary is between Rs 5,001 to Rs 10,000, they will get a benefit of Rs. The best way to avail this is to keep the EPFO ​​account open even if the EPFO ​​member changes jobs.

For this you have to inform your old employer and current employer. It is advisable not to withdraw PF during work. Retirement fund members may suffer losses including income tax. He also had pension benefits and loss of loyalty.

The post EPFO Rules: EPF account holder gets an additional bonus of Rs 50,000, check all details first appeared on Rightsofemployees.com.