EPFO insurance benefits may rise 66%

Families of the 4.7 crore organised sector workers covered under the Employees Provident Fund Organisation (EPFO) could get as much as 66% more insurance benefits in the event of the breadwinner s death. The government is considering a proposal to hike the insurance benefits received by a worker s dependents under a little-known Employees Deposit Linked Insurance (EDLI) scheme of 1976, run by the EPFO. The benefits under the scheme, for which employers contribute 0.5% of employees salary, are currently capped at a ceiling of Rs 60,000. Central Provident Fund commissioner K Chandramauli is learnt to have approached the labour ministry to ...

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