Good News For EPFO Subscribers! Now EPF Subscribers Can Get Benefits Up To 7 Lakh Under “Employee Deposit Linked Insurance Scheme”

This is really a good news for EPF Subscribers. Central Government has modified the norms under Employee Deposit Linked Insurance Scheme.

If you are a EPF Subscriber and covered under Employee Deposit Linked Insurance(EDLI)1976 scheme, you were entitled to get up to 7 Lakh rupees benefits that too without any premium from your side.

As per the twitter a/c of the EPFO-

  • All EPF Subscribers are enrolled under Employee Deposit Linked Insurance(EDLI) Scheme
  • No Additional Premium has to be bear by the Employee. Employers contribution would be attached to the EDLI Scheme
  • In case of the unfortunate demise of the EPF Subscriber, Nominee/Legal Heirs will be entitled to receive 7 Lakhs
  • It was earlier 6 Lakhs
  • The Increased compensation comes into effect from April 2021 onwards
  • After Demise of the EPF Subscriber, EPFO will be liable to pay 2.5 Lakh up to 1 Year from the date of the demise.
  • The Claim amount would be directly credited to the nominee/legal heirs bank a/c. For that the beneficiaries(Nominee/Legal Heir)should attach “Form51F” and submit to the EPFO

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