EPFO New Rules for EDLI Scheme: If you are a PF employee, this news will be beneficial. Some significant changes have been made in the EDLI scheme by the Employees Provident Fund Organization, i.e. EPFO. Along with providing financial security to the families, EPFO has to simplify the death claim process.
With these changes in EDLI, insurance coverage will also increase, and financial security will be provided to the families of PF employees. How will the PF member get benefits now and what changes have been made by the government, you can know all this in detail. What significant changes have been made in EDLI? You can read carefully in the article below where the confusion will end.
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If the PF employee dies within a year, then he will get the benefit
According to the new EPFO rules, if a PF employee dies within a year of joining, his family will benefit from insurance. The relatives of the EPF member will be given a minimum insurance benefit of Rs 50000.
Earlier, no minimum amount was fixed. EPFO has stated a big thing in this regard.
With this amendment, there is a possibility of the family getting benefits in more than 5,000 cases of death during service every year. This is considered a significant benefit of the government.
Second big change
EPFO has given a significant gift to EPF members by making three significant changes, one after the other. The second change is related to such cases in which the EPF member dies during the job, but his EPF contribution would have stopped for some time due to some reason. According to the earlier rules, if an EPF member died after the non-contributory period, the family could not benefit from the EDLI scheme.
After the new rules, if the EPF member dies within 6 months of receiving the last contribution, his name remains in the company’s records. His family will be able to get insurance under the EDLI scheme.
Know essential things related to the EDLI scheme.
For information, let us tell you that EPFO’s EDLI scheme is a life insurance scheme. This scheme covers employees who are registered under the EPF scheme. This scheme was started by the Government of India in 1976 and provides benefits
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