The government has given relief to the central employees in this difficult time of Corona period. The limit of insurance amount given under the Employee Deposit Linked Insurance Scheme, 1976 (EDLI Scheme) has been increased from 6 lakh rupees to 7 lakh rupees. In this connection, the Trustee Board of the Employees’ Provident Fund Organization (EPFO) has issued a notification today.
Explain that the decision to increase the maximum sum insured under the EDLI scheme was taken on September 9, 2020 in the Central Board of Trustees (CBT) of the EPFO headed by Labor Minister Santosh Gangwar. In this regard, Labor Secretary Apoorva Chandra said that the maximum sum insured will be applicable from the date of notification.
Minimum Sum Assured will remain intact
Under the EDLI scheme, a minimum sum assured of Rs 2.5 lakh is given. The CBT decided not to make any changes in it, to keep it as it is. The EPFO trustees had recommended a minimum benefit of Rs 2.5 lakh to the family members of the deceased employee who died during the service.
What is EDLI scheme
If an employee dies, then his family members can get the maximum sum insured as insurance. EDLI or Employee’s Deposit Linked Insurance Scheme provides a lump sum payment to the nominated beneficiary of the insured in the event of death due to natural causes, illness or accident. Earlier its maximum limit was 6 lakhs, now it has been increased to 7 lakhs.
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