All PF account holders get the benefit of insurance of Rs 7 lakh under the EDLI scheme. Apart from this, PF account holders get a big benefit under Loyalty-cum-Life benefit.
New Delhi: Many PF account holders are not aware of the rules of EPFO. Perhaps you are aware that you can also get an additional bonus of Rs 50,000 after retirement on your EPF account.
Many people do not know about the important rules related to EPF, due to which they also have to bear heavy losses. Let us tell you today how you can get additional bonus on your EPF account.
All PF account holders get the benefit of insurance of Rs 7 lakh under the EDLI scheme. Apart from this, PF account holders get a big benefit under the Loyalty-cum-Life benefit, under which Rs 50,000 is given as an additional bonus at the time of retirement to the account holder.
How to get Loyalty-cum-Life benefit
There are many people who change jobs from time to time, but they do not contribute to their EPF account continuously. But if you continue to deposit contributions in the same EPF account for 20 consecutive years even after changing jobs, you can avail an additional bonus of Rs 50,000 under the loyalty-cum-life benefit.
Central Government Approves Loyalty-cum-Life Benefit
CBDT has requested those PF account holders to avail the Loyalty-cum-Life benefit, who have contributed in the same epf account for 20 years.
The central government has also approved it. Any PF account holder who fulfills the conditions of this benefit can avail it.
