Now get additional Rs 50,000 on your provident fund deposits

Now get additional Rs 50,000 on your provident fund deposits

New Delhi: Retirement fund body EPFO's subscribers will get loyalty-cum-life benefit of up to Rs. 50,000 at the time of retirement for contributing to the scheme for 20 years or more.

The benefit will also be provided in case of permanent disability even if the members have contributed for less than 20 years, the EPFO board has decided.

The Employees' Provident Fund Organisation's (EPFO) apex decision making body, the Central Board of Trustees (CBT), has recommended a minimum sum assured of Rs. 2.5 lakh in the event of death of a subscriber.