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Home EPF Good news for EPFO ​​account holders, EPFO ​​is giving benefit of Rs...
  • EPF

Good news for EPFO ​​account holders, EPFO ​​is giving benefit of Rs 7,00,000 for free, know how to get benefit…!

By
Pravesh Maurya
-
August 10, 2022
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    EPFO Latest Update: Employees’ Provident Fund Organization (EPFO) has extended the last date for adding nominees through online e-nomination.

    The last date was 31st December 2021 which has been extended. However, now no deadline has been fixed for e-nomination. Let us tell you that every member of EPFO ​​gets the facility of insurance cover under the Employee Deposit Linked Insurance Scheme.

    In this, a maximum of Rs 7 lakh is paid to the nominee under the insurance cover. Let us tell you that in the year 2021, the limit of Insurance Amount given under the Employee Deposit Linked Insurance Scheme, 1976 (EDLI Scheme) has now been increased from Rs 6 lakh to Rs 7 lakh.

    Under the latest amendment, now the claim of this insurance cover will be 35 times of the last basic salary + DA, which was 30 times earlier. Also, now there will be a maximum bonus of Rs 1.75 lakh, which was earlier Rs 1.50 lakh. This bonus is considered to be 50 percent of the average PF balance during the last 12 months.

    For example, if the basic salary + DA for the last 12 months is Rs 15000, then the insurance claim (35 x 15,000) + 1,75,000 = Rs 7 lakhs. This is the maximum claim.

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      Previous articleEmployees Salary! Big News: Employees will now get salary every month on this date, order issued
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      Pravesh Maurya
      Pravesh Maurya
      https://www.rightsofemployees.com/
      Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com
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