If the motor is a conventional industrial product that is intended to run from 50Hz mains, there's little benefit in driving it with much more than 50Hz. The voltage applied to the motor is proportional to the speed of the rotor. The current is proportional to the torque applied. While you might gain a slight benefit operating up to 60 or 70 Hz, the torque (power) at that speed will be much reduced, as the VFD can't generate a voltage greater than the mains voltage it is operating from.

Also be wary of overspeeding the motor. Doubling the speed would quadruple the centrifugal forces on the rotor. While a rupture of the rotor may be contained by the stator and housing, it could write off your motor and you might "make mud" if you are standing next to it at the time.

The required motor plate data that you enter into the VFD setup should tell it most of what it needs to know to get going. That's the basically the voltage, frequency and number of poles along with the maximum phase current (tells it how powerful the motor is, so you don't over drive it). If the motor is designed for variable speed operation as m_c suggests, ignore this stuff about running above 50Hz.