EPFO EDLI Scheme: Whether you have money in your EPFO account or not, your nominee will still receive Rs 50,000. Yes, this is true. In fact, EPFO (Employees Provident Fund Organization) is going to make necessary changes in EDLI (Employee Deposit Linked Insurance). Under this, the previous conditions of this scheme will be abolished. This change in EPFO (EPFO benefits 2025) will directly benefit millions of employees and their families. Now the question is, what is EDLI scheme and who will benefit under it?
What is EDLI scheme?
What is EDLI? Employee Deposit Linked Insurance is a key EPFO scheme that provides insurance benefits to an employee’s nominee in the event of death while on the job. This scheme provides a lump sum benefit to the employee’s family or nominee. The employee does not have to contribute any additional funds. The EDLI scheme provides life insurance coverage of between Rs 250,000 and Rs 700,000.
What did the Ministry of Labour and Employment say?
The Union Ministry of Labor and Employment has relaxed the EDLI scheme, stating that if an employee dies while on the job, their family will receive insurance of Rs 50,000. This benefit will be available to their family regardless of whether they have any funds in their account.
Families will also get this benefit
According to the new rule, if an employee dies while on duty, their nominee will receive a compensation of Rs 50,000. Previously, the rule was that an employee must have at least Rs 50,000 in their account to qualify for this insurance benefit. The Union Ministry of Labour and Employment says that any employee who is a member of EPFO and dies within six months of the last salary deduction, his nominee can still avail the insurance benefit.
An important and significant change has been made to the scheme. According to this, if an employee has a 60-day gap between two jobs, it will no longer be considered a break. Simply put, if you have held multiple jobs and there is a 60-day, or two-month, break between any of them, all the jobs will be combined and considered a single service, allowing employees to fully benefit from the insurance.