EDLI Scheme: Enhanced insurance benefits for EPFO members extended retrospectively from April 28

Union Labour Minister Mansukh Mandaviya connected Thursday announced hold of the enhanced security benefits to each members of status money assemblage EPFO nether Employees' Deposit Linked Insurance (EDLI) scheme.

The determination volition guarantee up to Rs 7 lakh of beingness screen to much than 6 crore EPFO members.

The strategy has been extended with retrospective effect from April 28, 2024 onwards, Mandaviya said.

EDLI Scheme, launched successful 1976, seeks to supply security benefits to members of the Employees' Provident Fund Organisation (EPFO) successful bid to guarantee immoderate fiscal assistance to each member's household successful lawsuit of the member's death.

In 2018, the minimum security screen of Rs 1.5 lakh was introduced nether the scheme.

Till April 2021, the maximum benefits to the ineligible heir of the deceased worker was capped astatine Rs 6 lakh arsenic per the criteria defined successful EDLI Scheme.

Later, the government, done a notification issued connected April 28, 2021, enhanced some minimum and maximum benefits nether the strategy to Rs 2.5 lakh and Rs 7 lakh, respectively, for the adjacent 3 years.

Further, the information of continuous work of 12 months successful an constitution was besides relaxed truthful arsenic to screen adjacent those employees who changed jobs during that period.

These benefits were effectual for the three-year play which came to an extremity connected April 27, 2024.