New Delhi: If Your PF Is Deducted While Working In Any Government Or Non-Government Company, Then This News Is Going To Be Very Useful For You. Employees Also Want To Cut PF While Doing Jobs, So That Money Can Be Collected, But You Must Know About The Benefits You Get From It. PF Account Holders Get Many Big Benefits On This Account.
Know What Are The Benefits
Benefit Of Free Insurance
As Soon As The PF Account Of An Employee Is Activated, Then He Also Becomes Insured By Default. Under Employee Deposit Linked Insurance (EDLI), The Employee Gets Insurance Up To Rs 6 Lakh.
In Case Of Death Of An Active Member Of EPFO During The Period Of Service, His Nominee Or Legal Heir Is Paid Up To Rs.6 Lakh. This Benefit Is Provided By The Companies And The Central Government To Their Employees.
Pension After Job
Out Of The Contribution Deposited In The PF Account, 8.33% Goes To The Employee Pension Scheme, Which Is Received In The Form Of Pension After Retirement. Pension Is The Biggest Support For The Old Age Of The Person, For Which The Government Also Runs Many Schemes.
Money Can Be Withdrawn At The Time Of Need
Another Great Feature Of PF Funds Is That Some Money Can Be Withdrawn At The Time Of Need, Which Will Save You From The Possibilities Of Loans.
How Much Discount In Test
On The Other Hand, Even If You Want Tax Exemption, PF Is The Best Option. There Is No Such Facility In The New Tax System, Whereas In The Old Tax System, There Is A Discount On Tax.
EPF Account Holders Can Save 12% In Tax On Their Salary Under Section 80C Of Income Tax. Let Us Inform That The EPF Depositing Organization Keeps On Giving New Information To Its Account Holders From Time To Time.
