Do not forget this mistake related to PF account, otherwise there will be a loss of Rs 50,000!

New Delhi. The Employees Provident Fund Organization (EPFO) subscribers are prone to big losses due to not knowing many necessary rules related to their EPF account. Most subscribers do not know the rules related to insurance, pension, income tax deduction etc. of Rs 6 lakh under the EDLI scheme. One of these is also a law related to Loyalty-Cum-Life Benefit. Under this benefit, if an employee has contributed to his EPF account for 20 consecutive years, then he can get a profit of up to Rs 50,000 at the time of retirement. In fact, all EPF account holders are advised to contribute to the same EPF account even after changing their jobs. With this, they can get the benefit of Loyalty-Cum-Life Benefit after contributing to the same account for 20 consecutive years. It has been recommended to reach the account holders who have contributed to their EPF account for 20 years. The central government has approved this, which means that if someone is eligible for it, then they will get a profit of Rs 50,000. How much can they get the benefit? According to the information received, people with basic salary up to Rs 5,000 will get a profit of Rs 30,000 under Loyalty-Cum-Life Insurance. Whose basic salary will be between Rs 5,001 to Rs 10,000, they will be eligible for a profit of Rs 40,000. At the same time, if the monthly basic salary of an employee is more than Rs 10,000, then they will get the benefit of Rs 50,000. Also read: SBI’s new FD scheme will get more profits! Know when and how will you have to do to get your earnings? EPFO ​​subscribers The best way to take advantage of this is that even if they change their jobs, then continue the same EPF account. For this, you have to give information to your old employer and current employer. It is usually advised not to do PF withdarwal while working. Subscribers may suffer losses in retirement funds including income tax. This also causes them loss of pension benefit and loyalty. Also read: Modi government gave great relief to home buyers! Subsidy can be found again on home loan

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