Do you work? Is your PF deducted from your salary every month? Then, this video is for you. Because, there are 4 new updates in this PFO. Because of these updates, we are benefitted.
If you want to know about these changes, read the article fully
First one. If we don’t have money to buy or pay for our house, we can withdraw money from our PF. But, the condition is, even if we open the EPF, we can withdraw only after 5 years.
That means, we got a job. So, they joined us. They will directly open the EPF.
So, even if we open it, we can withdraw the PF money only after 5 years. This is an old rule. That too, only after 36 months of contribution.
In the first 3 years, how much you contributed to the EPF, that means, you and the employer. Did you understand? Employee and employer. How much you contributed together, and how much money was generated on that, that too, only after the first 36 months.
How much money was generated and how much you contributed, they will give that amount to you. For example, you are contributing 6,000 rupees to the EPF every month. You and your employer.
12% from the employee and 12% from the employer. You are contributing 6,000 rupees together every month. So, 6,000 x 36.
That means, first 36 months. How much? 2,16,000. In the first 36 months, even if you contribute, let’s say 20,000.
2,16,000 x 20,000. How much? 2,36,000. This is all we get.
But, from now on, from July, this rule has changed. We don’t have to wait for 5 years. Even if we join the job, we can take it after the first 3 years.
We definitely have to wait for 5 years. But, from now on, 3 years. 3 years is enough.
If we want, for household needs, even if we want to buy a house, even if we want to build a house, we can take the money. How much? 36 months of contribution? No. That has also changed.
How much? How much corpus is there? After 3 years, how much corpus is there? We can take 90% of that corpus. For example, you joined in 2022. You opened your first job as an EPFO.
You joined in January, 2022. You also opened as an EPFO. So, there is a total of 3 lakhs corpus.
Your contribution, employer contribution, plus interest, total of 3 lakhs corpus. 90% of this 3 lakhs. 90% of this 3 lakhs.
Present. 3 years is complete, right? 2022, 2023, 2024, 2025. 3 years is over.
So, after 3 years, we can take it in 2025. How much will you give? 90%. 90% of 3 lakhs means 2,70,000.
This much will come to us. Do you understand? This is a new rule. To put it simply, before this, we had to wait for 5 years.
But now, only 3 years. So, how much corpus is there? 90% of that corpus will be given to us. Only once.
For this much need, only once, we can withdraw the PF money. Clear? Huh? Let’s see the second one. From July 18th, changes have come in the EDLI scheme.
EDLI? It means, Employees Deposit Linked Insurance Scheme. It is here. Insurance Scheme.
This is a scheme. Everyone who works, will get insurance for free. Many people don’t know.
Why? For example, we are working in a company. They are linked to EPFO. That means, PF is deducted from our salary every month.
So, if for any reason, they die, if our family members apply, if they apply to EPFO, my husband or my father, who is he? They die. They are present in the job. If they apply by saying this, EPFO, that means, Employees Provided Fund Organization, will give 7 lakhs to our family.
Many people don’t know this. How many people are dying in our country? But, very few people are climbing. From July 18th, changes have come.
3 changes. Let’s see what they are. There is a condition in this.
If these 7 lakhs have to come to our family, for the last 12 months, for example, today, a person named XYZ died. For the last 12 months, from today, for the last 12 months, PF contribution should be there every month. Did you understand? For the last 1 year, if he dies today, for the last 1 year, PF will be deducted every month, and only if it goes to EPFO, 7 lakhs will come.
Did you understand the condition? For a time, if there is no contribution for these 12 months, not a single rupee will come. The same rule for so many days. But, the rule has changed now.
Since when? Since July 18th, the rule has changed. For a time, in the last 12 months, even if there is no contribution, it is okay. 50,000.
Fixed, a minimum of 50,000 will come. I will tell you a small example. About 3 months back, a person named XYZ, joined the job for the first time.
So, registration was done for EPFO. For the first 3 months, contribution was done. He died in the 4th month.
According to the old rule, 12 months were not completed. So, not a single rupee will come to EDLI insurance. But, according to the new rule, which came recently, since July 18th, it is present.
According to this new rule, even if 12 months are not completed, it is okay. A minimum of 50,000 will come. If 12 months are completed, 7 lakhs, up to.
If the monthly salary is more than 15,000, if the monthly salary is more than 15,000, 7 lakhs will definitely come. So, according to this new rule, even if you die within 3-4 months, a minimum of 50,000 will come. This is the new rule.
Did you understand? Suppose, for the last 12 months, every month, if EPF is cut, for our family members, whoever applies for the nominee, EPFO will give them 7 lakhs. Suppose, for the last 12 months, the contribution did not happen, they joined recently, suppose they die within 4 months, even then, EPFO will give a minimum of 50,000. Before this, they would not give even 1 rupee.
Because, there is a condition, for 12 months to be completed. Now, let us see the second one. I have already told you, there is a condition, for the last 12 months, the contribution should happen.
But, it did not happen. There is a gap. Suppose, they have worked for 8 months.
New job, first job, they worked for 8 months. There is a gap. How many? There is a gap of 2 months.
It is gone. Again, from the 1st, the contribution will be counted. Continuously, if 12 months are completed, only then 7 lakhs will come.
For example, they have worked for 8 months, there is a gap of 3 months. Otherwise, there is a gap of 2 months. Suppose, they join a new company.
There is a gap. Again, from the 1st, the contribution will be counted. Again, from the 1st, the contribution will be counted.
Again, if 12 months are completed, only then 7 lakhs will come. But, according to the new rule, even if there is a gap of 60 days, it is okay. That means, they have worked for 8 months in a company.
In these 8 months, the PF has been cut. Now, there is a gap of 2 months. That is the condition.
See, there is a gap of 60 days. There is a gap of 2 months. That means, there is no PF contribution for 60 days.
There is no contribution for 2 months. But, if it is the 3rd month, you have joined a new company. There is a gap of 2 months.
But, there is a gap of 60 days. Similarly, even if there is a gap of 60 days, it is okay. That count is not missed.
Earlier, 8 months were completed. So, this is the 9th month. Even if there is a gap, count these 2 months.
Because, there is no PF contribution. That means, there is no gap. In these 12 months, even if there is a gap of 1 month, the chain will break.
Again, count from the 1st month. But, from now on, it is not like that. For example, even if there is no PF contribution for 2 months, it is okay.
If you have joined for the 3rd month, it will continue. Here, 8 months are completed. So, even if there is a gap of 9th, 10th, 12th, etc., it will continue.
Even if there is a gap of 1 month, it is okay. Again, count from the 1st month. But, even if there is a gap of 2 months, it is okay.
This is also a new rule. Clear? For example, if you have given a gap of 3 months, it is okay. Because, 60 days have passed.
2 months is 60 days. 3 months is 90 days. If you give a gap of 3 months, it does not count.
If you join again, it does not count. If you join again, it will continue from the 1st month, 2nd month, 3rd month, 4th month, 5th month, 12 months continuously. Only if you pay the EPF, the scheme will work for you.
If it is present, 60 days gap is okay. And, the last one. Let us see the last one.
For example, you are working in a company. You go and ask, Sir, I will resign. What will they say? You are working well, right? Why? Ask whatever you want.
They will say, do not resign. What will you say? Sir, I want a 6 month leave. What will they say? Okay.
Let us assume, you do not resign. That means, officially, you are an employee. In that company.
That is how the rule is. Employees do not come to your place. But, you are on leave.
Let us assume, loss of pay. But, officially, you are in that company. But, you are not working.
So, you do not get a salary. If you do not get a salary, there is no PF contribution. Similarly, for 4 months, there is no contribution.
You are a trip killer. World trip. You died there.
Let us assume, you died there. Then, according to the rules, there is no EPF contribution. So, you should get only 50,000.
But, there is a small clause here. You are, in that role, in that official role, you are still continuing. Just because, there is no EPF contribution, for the last 4 months.
Right? But, officially, you are in the same role. Hence, 7 lakhs, EDLI insurance, should come to your family members. Up to 7 lakhs.
They will count. There is a formula for that. Remove these 4 months.
You contributed before, right? According to those calculations, up to 7 lakhs, will be given to your family, by EPFO. If you look at it officially, there is no EPF contribution. So, minimum 50,000 should be given.
According to the rules. Because, present EPF is not being paid, for the last 4 months. But, you are still in that company, officially.
So, up to 7 lakhs, EDLI insurance, should be given to your family. What I am saying is, you will get 7 lakhs, If we are not there, will 7 lakhs be enough for our family? Not at all. So, if you ask me, take a term plan.
What is the coverage? 1 crore, 2 crores, keep it this way. Then it will be enough. Where will 7 lakhs be enough? So, what I am saying to everyone, is that, your family is dependent on you.
Even if we are not there, they should not be in a situation, where they have to be on the road. If they should not be there, then we should take a term plan. And, many people are asking me, which company should I take? So, present, there are many companies.
All are good. If you look at one of the best companies, Axis Max Life. Because, in this company, Climb Settlement Ratio is 99.7.
I am saying this is one of the best, because, I have already said, Climb Settlement Ratio, 99.7. And, Solvency Ratio, 190%. This should be more than 150%. Similarly, Assets Managed.
If you look at that, 1,50,000 crores. 1,000 crores. You have taken the plan.
If you don’t like it, within 30 days, you can cancel it. How much ever you pay, it will be refunded. And, if you look at the policy renewal rate, it is more than 91%.
Which is very good. Similarly, more than a crore people, have already taken the plan, in this company. And, along with that, by taking this, we will get income tax benefit.
And, up to 54,600, we will get income tax benefit. And similarly, critical illnesses. We can add up to 64 critical illnesses.
For example, if you have cancer, in the future, you have cancer, you can’t die, you are on the bed. At that time, how much ever coverage we use, that much money, this insurance company will give us. And similarly, if all the documents are correct, 3 years.
It is said that, only in 3 hours, Climb Settlement will be done. If all the documents are correct, it will be discounted. And along with that, in the future, if you apply for Climb, your nominee, immediately, in advance, will give some money, to this plan.
So, many plans, and many companies, can’t give this offer. So, they will check everything, and if everything is correct, only then, they will give the claim. But, they will release some money, on the spot.
And along with that, if you are doing a job, because you are salaried, on the first year premium, 15% will be discounted. And, for you, 1 crore. If you choose 1 crore, your age will be less, and if you don’t have any problems, monthly premium, will start from 577.
Understood? So, no matter how you look at it, everything is fine. if you have a plan, consider this once. I gave you the link, click on it, and give your information.
Here, if you enter all these, it will show you. How much you will get, check it. If you like it, you can directly take it.
Or, it is your wish. Understood? What I am saying is, at the end of the day, it is very important to take a term plan. If we take a risk, we should trust ourselves, and face our family, and they should not be troubled.
Huh? Even if you like this news, tell me in the comments, whether you like it or not. Thank you so much. Thanks for reading.
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