The Employees’ Provident Fund Organization has created Ex-Gracia Death Relief Fund to help the family members of their employees in case of sudden death.
There is big news for the employees of Employees’ Provident Fund Organization. In fact, the Employees’ Provident Fund Organization (EPFO) has doubled the assistance received on the accidental death of its employee. The direct benefit of which will be given to 30 thousand employees of Employees’ Provident Fund Organization working across the country. Let us tell you that the Employees’ Provident Fund Organization has created Ex-Gracia Death Relief Fund to help the family members of their employees in case of sudden death. Through which big relief will be provided to the families of the deceased employees of Employees’ Provident Fund Organization.
EPFO issued circular – EPFO has recently issued a circular in all its offices regarding this order . In which it has been clarified that the nominee of the deceased employee will be given double the amount.
Earlier, the nominee used to get only 4.20 lakh rupees – Before this order, only 4 lakh 20 thousand rupees were given to the nominee. At the same time, in its circular, the EPFO has said that the amount received by the nominee will not be given to their families, who have died due to corona virus. Also, now the amount of accidental death has increased to Rs 8 lakh. Along with this, it has also been decided that every third year this amount will be increased by about 10 percent.
EPFO employees had demanded more help – EPFO members had demanded that at least Rs 10 lakh and a maximum amount of Rs 20 lakh should be given. But EPFO has increased the amount of help to only Rs 8 lakh. This amount will be for the employees of EPFO across the country. This amount will be given from Welfare Fund. On the other hand, if the employee died due to corona virus, then the order dated 28 April 2020 would be applicable.
EPFO paid interest to 6.47 crore subscribers – Interest at the rate of 8.50 percent has been reached in the PF account of EPFO for the financial year 2020-21. Information about this has been given by EPFO through its Twitter handle. In which it has been told that interest has been credited in the account of 6.47 crore subscribers of EPFO.
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