Provident Fund for NRI – If you have an account in provident fund, you will get benefits of more than 7 lakhs. Not only all the employees will be financially secured through provident fund, also everyone can get additional opportunity of Rs.7, 00, 000.
All the details about Provident fund for NRIs.
EPF was established in 1952 by the central government to secure the future of all government or private employees of the country. Through this PF, all customers get health insurance up to 7 lakh rupees. In today’s article, we are going to discuss about it.
EPFO currently has more than 6 crore subscribers. All of these customers are part of the workforce. All these customers are considered eligible. There is a rule in getting this insurance that the amount of money an employee will get through this insurance after death depends on his last month salary.
After the death of the EPF holder, his/her family member who is the nominee will get the amount of money. Along with this, the money deposited in PF will also be given to the nominee.
As per EPFO rules, after the death of the investor, they will bge given up to Rs 7 lakh as insurance. Also this benefit is given at least 2.5 lakh rupees.
If the employee has been working for 1year before his death, then the money goes directly to the employee’s account. The investor’s entire contribution in this scheme is his/her monthly salary’s 0.5%.
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Written and edited by Rajeshwari.