Trending @Cognizant; EPFO: Free Insurance Up To Rs 7 Lakh To EPF Members, Without Any Premium.

Employees Provident Fund Organisation (EPFO) gives insurance coverage of up to 7 lakh to its members who regularly contribute to the EPF. The members do not have to pay any premium to avail of the insurance under this scheme. The scheme is called the Employees Deposit Linked Insurance (EDLI) scheme. It applies to all the employees whose basic salary is under Rs 15000.

Even members whose basic salary is more than Rs 15000 can get the insurance maximum benefit up to Rs 6 lakh. Your family members will get the benefit of the scheme. Check the features of the scheme & when & how can your family members avail of the scheme. EPFO EDLI Scheme: Features The EPFO members don’t have to pay any premium for this insurance. The claim amount is 35 times higher than the average monthly pay of the EPF members for the previous 12 months up to a maximum of Rs 7 lakh. Even the bonus of Rs 150000 is given under this scheme which has been increased up to Rs 1.75 lakh from April 28 2021.

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