EPFO Update: Ensure Nominee Details to Claim Rs 50,000 on Employee's Death

The Employees' Provident Fund Organisation (EPFO) has introduced new updates under the Employee Deposit Linked Insurance (EDLI) scheme.

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Important EPFO Announcement

The EPFO has introduced updates to the EDLI scheme, supporting families of employees who die during service. The nominee gets a minimum of Rs 50,000, even if it's not in the employee's PF balance.

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Job Changes and PF Insurance

This insurance falls under the EDLI scheme, providing financial aid to the nominee if the employee dies. The insurance benefit ranges from Rs 2.5 lakh to Rs 7 lakh. Importantly, employees don't pay any premium for this. The employer's contribution to EPFO funds this benefit. The scheme ensures a minimum payout of Rs 50,000, acting as a guaranteed relief amount for the family.

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New EPFO Scheme

In another update, a job break of up to 60 days won't be considered a service break. If an employee changes jobs with a gap of fewer than two months, it's still continuous service. This helps thousands who switch jobs often but stay within the EPFO system.

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Announcement for Employees

The government confirmed that if an employee dies within six months of their last salary or last PF deduction, the nominee gets the scheme's benefits. Even if an employee recently left their job and dies within six months, their nominee can receive the insurance benefit under the EDLI scheme.

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Salaried Workers

The EDLI scheme provides a safety net for organized sector employees and their families. It ensures financial assistance for the legal heir or nominee during emergencies. These reforms reflect the government's efforts to strengthen social security for salaried workers and provide peace of mind to their dependents.