EPFO News: In the circular, EPFO has clarified that the amount received by the nominee will not be given to his family members, who have died due to corona virus. Now the amount of accidental death has increased to Rs 8 lakh. Under this fund, earlier only Rs 4.20 lakh was given to the dependent of the employee.
EPFO Accidental Death Double Amount: The Employee Provident Fund Organization (EPFO) has taken a big decision regarding its employees and their dependents. Actually, after the sudden death of EPFO employees, their nominee will be given double the amount. After the sudden demise of the employee on behalf of the Central Board, his family members are given Ex Gracia Death Relief Fund, about which the EPFO has given this relief. This will benefit about 30 thousand employees of EPFO across the country. Regarding this decision, the institute has also issued circular in its offices.
According to reports, in the circular, the EPFO has clarified that the amount received by the nominee will not be given to his family members, who have died due to corona virus. Now the amount of accidental death has increased to Rs 8 lakh. Under this fund, earlier only Rs 4.20 lakh was given to the dependent of the employee. In this context, almost double the increase has been registered.
10 percent amount can increase every third year
It has also been decided that every third year, efforts will be made to increase this amount by about 10 percent. Let us inform that the members of EPFO had demanded that at least Rs 10 lakh and maximum amount of Rs 20 lakh should be given. According to the EPFO circular, if the employee has died due to non-Covid, then his family or nominee will get an amount of Rs 8 lakh. This amount will be for the employees of EPFO present across the country. This amount will be given from the Welfare Fund. At the same time, if the employee died of corona virus, then the order dated April 28, 2020 would be applicable.
EPFO paid 8.5% interest on PF amount
Recently, the central government transferred the interest of PF in the accounts of 6.5 crore people. Your PF account will also have arrived, if you have not received SMS yet, then you can easily check it sitting at home. For the last few months, people were waiting for the interest to be received on account holder PF. This time EPFO has given 8.5 percent interest on PF amount. You can check by sitting at home how much interest you have received. You can check PF interest only with the help of registered mobile number linked with PF account.