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EPFO 15 Lakh Rupees: If you are a salaried person, then it is obvious that your PF will also be deducted as per the rules. Actually, PF accounts of salaried people are opened by the Employees Provident Fund Organization i.e. EPFO. Then a fixed amount is deducted from the employee’s salary every month and deposited in this PF account.
At the same time, the company also deposits the same amount in the PF account of its employee. Along with this, EPFO also gives annual interest on it. Now, in the midst of all this, a big news has come from EPFO in which there is talk of giving Rs 15 lakh
For what will you get 15 lakh rupees?
- Actually, if you are also employed and have a PF account, then EPFO has taken a big step and made a big announcement for you. In this, the ex-gratia amount given by the Employees’ Provident Fund Organization i.e. EPFO under the ‘Death Relief Fund’ has been increased and now it has been increased to Rs 15 lakh. Earlier this ex-gratia amount was Rs 8.8 lakh.
What is this ex-gratia amount and when will it be implemented?
- EPFO has increased the ex-gratia amount from Rs 8.8 lakh to Rs 15 lakh. This new amount will be implemented from April 1, 2025. This is the amount that is given to the nominee of employees who die during service.
Who will get these 15 lakh rupees?
- If you want to know who will get this ex-gratia amount of Rs 15 lakh, then know that this money will be given to the family, legal heir or nominee of such employees who are employees of the Central Board and who die during service.
Where will the money come from and why was this decision taken?- This ration of Rs 15 lakh will be given from the Staff Welfare Fund and EPFO has also said that this amount will increase by 5 percent every year from April 1, 2026. At the same time, also know that this decision has been taken by the Central Board of Trustees which includes representatives of the government, employers and employee organizations. This decision has been taken so that this financial help remains useful for the families with inflation and rising costs.
