New Delhi: EPFO, a pension management organization for salaried employees, runs a variety of schemes for its members. The benefits of these schemes are available only to those people who are members of EPFO. Also, EPFO does not take any kind of money from its members for these schemes..
One of the many schemes run by EPFO is Employees Deposit Linked Insurance Scheme ie EDLI Scheme. EPFO members get the benefit of insurance through this scheme.
EPFO gives the benefit of insurance cover to the family of its members in case of accidental death. Under the EDLI scheme of EPFO, in case of premature death of the subscriber, his nominee is given an insurance amount of up to Rs 7 lakh. If a person is a member of EPFO and has worked for 12 consecutive months, then in case of premature death, his family members will be given the benefit of insurance cover of Rs 7 lakh.
This insurance cover is also available to those people who have worked in more than one organization within a year. Insurance can be claimed on behalf of the family members of the employee in case of premature death of the employee. The claiming member in the EDLI scheme should be the nominee of the employee. Let us tell you that even after death due to corona, the benefit of this insurance cover is available.
Would not have given any money
To take advantage of insurance under the EDLI scheme of EPFO, you do not have to pay any money separately as premium. Contribution to this scheme is made by the employer ie the organization where you are working.
How to claim
In case of premature death of EPFO member, his nominee or successor can claim for this insurance cover. In order to make a claim, the insurance company is required to provide the death certificate of the employee, succession certificate, certificate of the guardian applying on behalf of the minor nominee and bank details.
