Friends, let us tell you that every PF member also gets the benefit of life insurance for free, which is called EDLI Insurance. For this, not a single rupee is deducted from the account of the employee. Earlier, under this, minimum life insurance of 2 lakh rupees and maximum of 6 lakh rupees was provided, but now PF members will get life insurance of 7 lakh rupees for free. Let’s know how?
What Is EDLI?
If a PF employee dies accidentally while in service, his nominee or family members are paid compensation from the EPFO under the Employees Deposit Linked Insursnce, called EDLI.
Actually each PF member gets the benefit of 3 government schemes: – 1) EPF 2) EPS 3) EDLI
EDLI Insurance has a full form of ” employees deposit linked insurance “, that is, this insurance is also linked in the PF account of the employee, which is available to the employee absolutely free.
Now You Will Get Maximum Life Insurance Of 7 Lakh Rupees
In the CBT meeting held on 9 September 2020, it was decided that the maximum insurance benefit to PF employees has been increased from Rs 6 lakh to Rs 7 lakh. Which was a good news for PF employees, but its official notification was not released, which has now been released on 29 April 2021. It has been said in the gadget that under EDLI Insurance, a minimum amount of 2.5 lakh and maximum of 7 lakh rupees will be given.
How To Claim EDLI Insurance?
If a PF member dies accidentally during service, his / her nominee can claim online or offline to get EDLI insurance money.
How To Claim EDLI Insurance Online?
If the PF member had filed a nominee in his / her UAN account on the Unified Member Portal, then submit Form 20, 10D and Form 5 (if) on the nominee Unified Member Portal by going to the ” Death claim filing by beneficiary ” option for EDLI insurance. You can claim online.
How To Claim EDLI Insurance Offline?
If the PF member had not filed a nomination in his UAN account on the Unified Member Portal, then the nominee cannot be claimed online by the nominee in the death case to get the benefit of edli insurance and in such a case the nominee or family member should be lodged in the PF office One has to submit the offline form and follow the guidelines given in the PF office. In this way, can you get the compensation amount of edli insurance by making an offline claim?
Edli Scheme Benefits In Hindi – Life Insurance Of 7 Lakh Rupees
After the nominee claims to get the amount of insurance, the nominee gets all these EDLI scheme benifits: –
- PF amount : The amount of employee share and employer share will be deposited in the PF account of the PF member along with interest.
- EPS pension amount : If the PF member had not completed the 10-year job, then the pension amount will be received according to the service. If the employee had completed a 10-year job, the nominee would get a monthly pension.
- EDLI insurance amount : The insurance amount is given according to the calculation, although there is a minimum of 2.5 lakh rupees and maximum of 7 lakh rupees. Whatever amount comes out according to the calculation is given to the nominee.
