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Epfo Death Relief Fund Marathi News: The Employees Provident Fund Association (EPFO) has made a big decision for the families of their Central Board employees. The organization has increased the ‘grant subsidy amount’ to Rs 1 lakh provided by the Death Assistance Fund. This new arrangement will be implemented for all cases after April 1.

Earlier, the amount was Rs 1.5 lakh. The EPFO ​​said that the purpose of this step is to provide financial security to the families of the employees. This amount will be paid to the person or legal legacy of their nominee in terms of employees’ deaths.

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What is the Death Relief Fund and who gets the benefit of it?

The Death Relief Fund is a special fund of EPFO, which provides financial assistance to the families of the Central Board employees. This facility is for employees who died while on a job. The amount from this fund is paid from the employee welfare fund. This benefit is only for the Central Board of the EPFO, not for the general PF account holders.

That is, employees of private or government companies registered in EPFOs cannot avail the scheme. This amount is paid to the employee’s nominated person or legal heritage, so that the family can get financial assistance in difficult times.

The amount will increase by 5% per year

The EPFO ​​has also announced that this amount of Rs 1 lakh will be increased by 5 percent per year. This increase will begin on April 1. For example, this amount will be Rs. This step has been taken in view of rising inflation and financial needs.

The EPFO ​​says that this decision will help the families of the employees to get long -term financial stability. The decision is taken by the Central Trustees’ Board, which includes representatives of the Central and State Government as well as employers and staff.

EPFO has made many more changes

In addition to this big step, the EPFO ​​has also made many other reforms in the 5th. The organization has simplified the process of claiming death. Now the ‘Parental Certificate’ will not be required to deposit the amount in the bank account of the minors. In addition, the process of adding Aadhaar and Universal Account Number (UAN) or repairing Aadhaar has also been made easy. The purpose of these changes in EPFO ​​is to provide faster and easy services to employees and their families.