The registered nominee of the EDLI system receives a lump sum indemnity in the event of the death of the EPF member, during the period of service. The nominee registered in the EDLI is the same as the one registered in the Employee Provident Fund (EPF) scheme.
EPFO recently tweeted from its official Twitter account about the features of the program.
Main features of the Employee Deposit Insurance Scheme (EDLI), 1976. #EPFO # Social Security #PF # Employeesâ¦ https://t.co/tNWlTJQYxd
– EPFO ââ(@socialepfo) 1634453100000
Here is an overview of the 5 key features of the EDLI system.
- Maximum benefit insured up to Rs 7 lakh to be paid to the candidate or to the legal heir of the EPF member if the death occurs during service.
- Under the 1976 EDLI scheme, the minimum insurance benefit is Rs 2.5 lakh in the event that the deceased member was in continuous employment for 12 months before his death.
- This life insurance service offered to EPFO ââmembers is free for PF / EPF account holders. Minimum employer contribution of 0.5% of the employee’s monthly salary, up to Rs 15,000; no employee contribution
- Automatic registration of PF members in the EDLI program
- Benefit directly credited to the bank account of the legal heir or agent
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How the nominee can file a complaint in EPF, EPS and EDLI online after the death of an individual