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The Regional Office of Employees Provident Fund Organisation (EPFO) has intimated that Aadhaar card is mandatory to avail benefit/service.
In a statement, Shashikant Dahiya, Assistant Provident Fund Commissioner/ Officer-In-Charge, said The Section 142 (Application of Aadhaar) of the Code on Social Security took effect from May .
Aadhar number was necessary for purposes of registration as member or beneficiary; seeking benefit whether in kind, cash or medical sickness benefit or pension, gratuity or maternity benefit or any benefit or for withdrawal of fund; availing services of career centre; or receiving any payment or medical attendance as insured person himself or for his dependents.
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A screenshot of a LinkedIn post by ISB gold medalist Sarthak Ahuja has recently gone viral on WhatsApp and other social media with a claim that if someone with active employment passes away due to COVID-19, his or her legal heirs are eligible to receive money up to Rs7 lakh under the Employee Deposit Linked Insurance (EDLI) scheme.
If you know anyone who has passed away due to COVID-19 and was inactive employment, their family and legal heirs may be eligible to receive a minimum of Rs2.5 lakh and max up to Rs7 lakh (updated Sep 2020) under the Employee Deposit Linked Insurance (EDLI) Scheme. If they were covered under PF with the EPFO, they were by default signed up for this life insurance cover. The legal heirs may have to file a Form 5 IF with the EPF Commissioner, countersigned by the employer, the viral message reads.
May 05, 2021, 18:46 IST
As many people are dying due to COVID-19 in the second wave, the need for insurance benefits come as a great help in these trying time,especially when the head of the household is still working.
Recently the Central Government has enhanced the benefit under the Employees’ Deposit Linked Insurance Scheme (EDLI).
Through a gazette notification dated April 28, 2021, the maximum assurance benefit payable in the EDLI Scheme has been enhanced to Rs. 7 lakh from the earlier maximum benefit of Rs.6 lakh.
Earlier, in September 2015 the benefits under the EDLI scheme was increased from Rs 3.6 lakh to Rs 6 lakh, which got notified in June 2016.
All you wanted to know about Employees’ Provident Fund Organisation
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The Employees’ Provident Fund Organisation (EPFO) recently hiked the death insurance benefits for subscribers under the Employees’ Deposit Linked Insurance (EDLI) scheme. The minimum death cover has been increased to ₹2.5 lakh effective retrospectively from February 15, 2020. The maximum benefit under the scheme has also been hiked to ₹7 lakh from ₹6 lakh. These new limits will be in effect for three years from April 28, 2021.
What is it?
To provide income security to the family of a private sector employee after his/her death, the government introduced the Employees’ Deposit Linked Insurance Scheme in 1976. This life insurance scheme covers all active members of the employees’ provident fund. For availing the insurance cover, employees need not contribute any amount. It is supported by a nominal contribution by the employer. If you have not heard about the EDLI scheme, that could be because yo
Labour Min hikes maximum sum assured payable under EDLI scheme to Rs 7 lakh
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Last Updated: Apr 29, 2021, 08:44 PM IST
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Synopsis
The Employees Provident Fund Organisation s (EPFO) Central Board of Trustees (CBT), headed by Labour Minister Santosh Gangwar, had decided to hike the maximum sum assured under the EDLI scheme to Rs 7 lakh at its virtual meeting held on September 9, 2020.
PTI
The labour ministry has implemented a decision of retirement fund body EPFO s trustees to hike the maximum sum assured payable under the Employees Deposit Linked Insurance Scheme, 1976 to Rs 7 lakh from the existing Rs 6 lakh.
The Employees Provident Fund Organisation s (EPFO) Central Board of Trustees (CBT), headed by Labour Minister Santosh Gangwar, had decided to hike the maximum sum assured under the EDLI scheme to Rs 7 lakh at its virtual meeting held on September 9, 2020.