The Employees Provident Fund Organization (EPFO) is constantly making efforts to provide all employees the opportunity to avail better facilities. On the other hand, it has decided to provide an important social security benefit through Employee Deposit Linked Insurance (EDLI). Under this scheme, the family of EPF members are considered eligible for insurance payment of up to Rs 7 lakh if the member dies during active service. However, some eligibility has also been fixed for that. We will tell you detailed information about this eligibility. The information is given below, which must be read carefully and this information is very important for those who are members of EPFO.
EPFO ₹7 Lakh Insurance Information
It is quite easy to avail this scheme, however, the eligibility has been fixed under the ₹ 7 lakh insurance EDLI scheme and all the beneficiaries falling under that eligibility can avail this scheme. As we have told, if the EPF subscriber dies due to any reason, then in such a situation the nominee or legal heir receives the lump sum amount.
Insurance benefits are given to employees whose contribution is quite good. Let us tell you that eligibility is also very important for it. Information about your eligibility is also given below and for more help you can contact the EPFO branch and get more information about it. However, we do not confirm this information in any way to you, rather we are providing you information keeping in mind the information that has come out through the media.
What are the eligibility for EPFO insurance benefits?
Talking about eligibility, the deceased should be an active EPF member at the time of death and his contribution should be substantial. At least 1 month out of 12 months before death should be done i.e. there should be a time limit for EPF contribution by the employer. There is no minimum service requirement which means that new employees will also get the benefit of this scheme