EPFO: Earlier it was necessary that there should be 50 thousand rupees deposited in the PF account, only then this benefit was available, but now this condition has been removed. Not only this, under the new rules, if an employee dies within six months of receiving his last salary, then his dependents will get the benefit of this insurance.
EPFO: The purpose of the Employee Deposit Linked Insurance Scheme (EDLI) running under EPFO is to provide security to the employees of the organized sector. If an employee dies during the job, then under this scheme his family gets a lump sum insurance amount, which can range from ₹ 2.5 lakh to ₹ 7 lakh. The special thing is that the employee does not have to pay any money from himself for this insurance.
The biggest relief: Now you will get ₹ 50,000 in any case
EPFO has made a very important change in the rules of EDLI. Earlier the rule was that on the death of the employee, at least ₹ 50,000 should have been deposited in his PF account to get insurance benefits to the family. Now this condition has been abolished. This means that even if an employee has less than ₹ 50,000 in his PF account, or even if the account is empty, his dependents will definitely get insurance benefits of at least ₹ 50,000. This change is a big relief especially for the families of low-paid and new employees.
The time limit for claiming death has been increased
In the new rules, the time limit for submitting a claim after death has also been increased. Now if an employee dies within six months of receiving his last salary, his family members will still be able to get the insurance benefit of EDLI. Earlier this time limit was much less than this, due to which many families faced problems.
Benefits are safe even after changing jobs
Another important change has been made in the rule of continuous service. Now if an employee has to complete one year of continuous service, and there is a gap of 60 days i.e. two months between his two jobs, then also his service will be considered continuous. That is, if someone has done multiple jobs and the gap between each is less than two months, then the duration of all his jobs will be added together. This will enable his family to get full insurance benefits.
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