EPFO Good News: 7 lakh insurance cover to PF account holders under EDLI

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EPFO Good News: If you are an account holder of Employee Provident Fund Organization (EPFO), then you will know that under EPFO’s employee deposit linked insurance (EDLI) scheme 1976, till now you were given insurance cover up to Rs 6 lakh.



But in a meeting of the Central Board of Trustees CBT on September 9, approved the amendment of the Employees’ Deposit Linked Insurance Scheme, 1976. With which it has been said to increase the current maximum benefit from 6 lakh to 7 lakh rupees.

Also Read: EPFO: Advance PF will be withraw only one

EDLI Scheme Features, Who Eligibility and how to get insurance cover up to 7 lakhs?

  • Employee must be a member of EPFO ​​Employees Provident Fund Organization.
  • Employee is the beneficiary of the Deposit Linked Insurance (EDLI) scheme in case of accidental death of the employee.
  • After the death of the employee, his nominee gets this money, if the employee has not filled the nominee then his heir will get this money, but if the heir is not yet 18 years old, then the person caring for that heir will get it The amount will be available till the heir becomes 18 years or more.
  • Under the Employee Deposit Linked Insurance (EDLI) scheme, the beneficiary used to get a maximum insurance of Rs 6 lakh till now which has been increased to Rs 7 lakh.
  • Payment of EDLI clime is deposited in the bank account by EPFO ​​within 30 days.
  • If EDLI Clime does not happen within 30 days, then 12% interest is paid.

 

The post EPFO Good News: 7 lakh insurance cover to PF account holders under EDLI appeared first on informalnewz.



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