highlights
EDLI scheme is an insurance scheme run by EPFO
Insurance benefit of maximum Rs 7 lakh to the nominee of EPF member
The employee does not have to make any contribution in this
New Delhi. If you are employed and have a PF account holder, then you must know about the Employees Deposit Linked Insurance (EDLI) scheme. EDLI scheme is an insurance scheme run by EPFO, which is available to the PF account holder. If the EPFO member dies during the job, then under the EDLI scheme of EPFO, the family gets assistance of up to 7 lakhs.
The EDLI scheme was started by EPFO in 1976. If the EPFO member dies due to any reason, then it was started with the aim of providing financial help to his family. This insurance cover is given to the employee absolutely free of cost. For this, he does not have to make a separate contribution. Contribution for this scheme is done by the company.
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Benefits of EDLI Scheme
- On the death of the employee during the job, the nominee of the EPF member gets a maximum insurance benefit of Rs 7 lakh.
- If the deceased member was working continuously for 12 months before his death, then at least the nominee will get an insurance benefit of Rs 2.5 lakh.
- This facility is for those employees whose salary is not more than 15 thousand rupees.
- The employee does not have to make any contribution in this.
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how to claim
If the employee dies untimely, then his nominee can claim for the insurance cover. For this, the age of the nominee should be at least 18 years. If less than this, the Guardian can claim on his behalf. Documents like Death Certificate, Succession Certificate are required while making the claim.
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Tag: epf, Epfo, EPFO account, EPFO subscribers, Insurance
FIRST PUBLISHED : March 18, 2023, 20:08 IST
