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EPFO Subscribers to Get benefit up to Rs. 50,000
April 17, 2017
The Central Board of Trustees (CBT), which is the apex decision-making body of the EPFO has recommended a minimum sum assured of Rs 2.5 lakh in the event of the demise of a subscriber and loyalty-cum-life benefit of up to Rs. 50,000. These benefits will be offered to the subscribers for two years initially on a pilot basis, and then reviewed for further consideration. All this, however, is based on whether the government will grant approval or not.
According to the proposal, members whose are earning up to Rs 5,000 in wages will get the loyalty-cum-life benefit of Rs 30,000, and the ones earning up to Rs 5,001-10,000 the benefit of Rs 40,000.
