EPFO increases EDLI Benefits from ₹ 3.6 lakh to ₹ 6 lakh

EPF Increases maximum insurance cover for subscribers from ₹ 3.6 lakh to ₹ 6 lakh!

Employees Provident Fund Organisation increased maximum insurance cover for EPF beneficiaries from ₹ 3.6 lakh to ₹ 6 lakh. It will benefit more than 4 crore EPF beneficiaries.

This insurance life cover is paid to family of EPF subscriber on his death. It is also known as Employees Deposit Linked Insurance (EDLI) 1976.

The EPFO internal committee has a planning to increase it to ₹ 5.5 lakh but it was more than that and was announced to be ₹ 6 lakh.

The central board of trustees also has a condition of minimum working of 12 months under current employer to become eligible for EDLI scheme.

EDLI is calculated on basis of last salary withdrawn. Previously it was 20 x (last basic salary withdrawn) maximum of 15,000 per month + 20% bonus. Now new EDLI will be 30 x (last basic salary withdrawn) + ₹ 1.5 lakh as bonus.

In the year 2014-15 the government paid approx. ₹ 180 crore to approx. 30,000 EPF beneficiaries.

Author: Anu Dey

I am Anu Dey currently in Kolkata. On this site you can find helpful information on The PF Office India, Provident Fund Status, PF Claim Status, EPF Claim Status and How to Check PF Status Online! Here is our Android App EPF - UAN Members e-Sewa

2 thoughts on “EPFO increases EDLI Benefits from ₹ 3.6 lakh to ₹ 6 lakh

  1. Davendra Pal Singh

    I opted EPF-16th Nov.1995 pension in the year 1995 on implementation by office a PSU Housing & Urban Development Corporation Ltd (HUDCO) having its office at HUDCO Bhawan, India Habitat Center Lodhi Road, New Delhi. I joined this office on 7th Nov.1989. The total service in HDCU was about 14 years. Duration for which I was member is 7months and 1 month i.e. from the implemetation of EPF-1995 scheme and my retirement on 31st July 2003 on attaining age of 58 years of service at that time.

    I am a pensioner. I am recieving my Pension under PPO No.MRMRT00012679 (031800) in PNB ACNo.2051000300104705 Branch, Shastri Nagar (Rajpur). Pleaselet me know can I get exemption of my Family pension. Please inform me by mail.

    Reply

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