New Delhi : If your PF is getting deducted while working somewhere, then this news is going to prove to be a boon for you. A few days ago, the central government has announced to give interest money to PF employees. According to the announcement of the government, 8.1 percent interest will be transferred for the financial year 2021-22.
According to EPFO sources, the PF deducting body will be deposited in the account by June 30. On the other hand, PF employees are now getting many facilities apart from interest. The central government has also arranged for insurance to provide financial security to the PF account holder. Not only insurance, many other facilities are also given to PF account holders by EPFO.
Getting free insurance
With only free insurance on PF account from EPFO, many big benefits are available, which you can take advantage of in time. PF employees also get interest on closed accounts. If your PF account is inactive for more than three years, you will continue to get interest. This change has been made by EPFO in 2016.
At the same time, there is also a system of giving pension to the employee after the completion of 58 years. For this, it is necessary to contribute every month in the PF account for at least 15 years. Under the EPFO rules, 12 percent of the basic salary of the employees along with the contribution goes to the PF account.
Easy loan
PF account holders also do not face any problem in taking loan. It is easy to get a loan by investing in the account, in case of emergency, the account holder can take a loan against the amount deposited in his PF account. This loan is for three years. You can withdraw up to 90% of the amount deposited in your PF account for home loan repayment. It can also be used to buy land.
