EPFO: All the subscribers of EPF are covered under the Employees’ Deposit Linked Insurance Scheme, 1976 (EDLI). Under the EDLI scheme, free insurance cover of up to Rs 7 lakh is available on every EPF account.
If you work and are a member of EPFO then this is important for you. In fact, the Employees’ Provident Fund Organization (EPFO) gives great benefits of life insurance to its members in addition to PF and pension. Under this, members get a free life insurance cover of Rs 7 lakh. Subscribers do not have to make any contribution for this. But to take advantage of this 7 lakh rupees, it is necessary for the subscribers to fill a form. If you do not fill this form then your family will not be able to benefit from it.Also Read: SBI Alert: Customers getting these message related to pan card be aware, know all details here
In this regard, the retirement fund body recently issued a notification urging everyone to file their e-nomination so as to ensure the social security of the account holder’s family. EPFO is the premier organization of the country which provides social security benefits to the employees of organized/semi-organized sector under the Act of EPF and MP Act, 1952.Also Read: Lic aadhar stambh policy deposit Rs 916 per month and get 4 lakh after maturity
7 lakh free insurance is available under EDLI scheme
All EPF subscribers are covered under the Employees’ Deposit Linked Insurance Scheme, 1976 (EDLI). Under the EDLI scheme, free insurance cover of up to Rs 7 lakh is available on every EPF account.Also Read: What is loan NOC and why is it important to collect it from your Lender and bank
At present, 12 percent of the basic salary of the employee is deposited in EPF. The employer also deposits 12 per cent but it is deposited in two parts. The company deposits 3.67 percent amount in EPF and 8.33 percent in EPS.
Members should file e-Nomination today to provide #SocialSecurity to their families. Follow these easy steps to file EPF/EPS nomination #digitally. #PF #ईपीएफ@byadavbjp @Rameswar_Teli @PMOIndia @PIB_India @PIBHindi @MIB_India @mygovindia @DDNewslive @airnewsalerts @PTI_News pic.twitter.com/rcoTgfAftB
— EPFO (@socialepfo) August 17, 2021
The nominee of PPF subscribers gets an insurance cover of up to Rs 7 lakh under the 0.5 percent contribution deposited by the company in EDLI.
Can’t claim after retirement
If an EPFO member dies, the nominee can claim the life insurance amount. This insurance available to PF account holders can be claimed only during the job. This benefit is not available after retirement.Also Read: Aadhaar Card: Address will not be updated in Aadhaar without address proof, UIDAI has closed this facility
How to do e-nomination in EPF / EPS
>> First of all go to the official website of EPFO https://www.epfindia.gov.in/.
>> Click on ‘Services’ option and under that click on ‘For Employees’ option.
>> You will be redirected to a new page then click on ‘Member UAN/Online Service’ option.
>> Select E-Nomination under Manage Tab. By doing this, the Provide Details tab will appear on the screen, then click on Save.
>> Now click on Yes for family declaration, then click on Add family details.
>> Here click on Nomination Details for Total Amount Share, then click on Save EPF Nomination.
>> Next click on E-sign to generate OTP, now enter OTP on registered mobile number linked in Aadhaar.
>> As soon as you do this, your e-nomination gets registered with EPFO.