Epfo Unveils New Death Benefits Key Changes You should know in hindi news

If you work in a company and are members of EPF (Employees Provident Fund), EDLI (EmployeeEs Deposit Linked Insurance) scheme can prove to be an important social security shield for your family. EPFO has recently made 3 major changes in this scheme, which will benefit the families of the employees more. Let us know what changes have happened and what will be the benefit of you.

What is EDLI Scheme?

The EDLI scheme is part of the EPF, under which if an employee dies untimely during his job, his family gets insurance amount.

What are the changes now?

1. Insurance cover will be available even in the first year of the first job

Earlier, if an employee passed through the first year of his job, his family did not get any insurance benefit. But according to the new rule, now in such cases the family will be given a minimum of Rs 50,000 insurance. Every year about 5,000 families will benefit from this.

2. You will get benefit even after missing the job

First, if an employee left a job and died a few months after that, the family did not get the benefit of EDLI. Now under the new rule, if the employee dies within 6 months of the last EPF contribution, then the family will get insurance amount. Provided that the name of the employee is not completely removed from the company’s role.

3. Insurance cover will be available even while changing the job

Earlier, if an employee was unemployed for a few days, weeks or months while changing the job, it was not considered his “continuous service”. Because of this, the family did not get insurance amount. But now, if there is a break of up to two months between the two jobs, the service will be considered continuously and the insurance amount will be received. This will benefit about 1,000 families every year.

How much will you get insurance cover?

Now the family will get an insurance amount of at least 2.5 lakh rupees and a maximum of 7 lakh rupees. Currently, 8.25 percent interest rate is being received on EPF. In fact, the Central Board of Trustees (CBT) has approved 8.25 percent interest rate on EPF for FY 2024-25. EPFO says that these changes will benefit more than 14,000 families every year and this will strengthen the economic security of employees and their families.

ALSO READ: The fate of the person who has been changed from the 1988 document found in the house, the shares of India’s largest company have been taken for 10 rupees