The whole country is currently reeling under the second wave of corona. A large number of people are losing their lives due to this disease. The crisis on such families has suddenly increased. PF account holders get free insurance up to Rs 7 lakh. In such a situation, if an employee of a private company dies, his family members will get Rs 7 lakh. The nominee of a family member or employee who died of corona may also die under this insurance.
They reap the benefits
In September 2020, the CBT approved an amendment to paragraph 22 (3) of the EDLI, 1976, to increase the maximum insurance amount from Rs 6 lakh to Rs 7 lakh. The purpose of this amendment is to provide relief to the families and dependents of the members of the scheme who, unfortunately, die while in service. At a CBT meeting in March 2020, EPFO trustees paid at least Rs 2.5 lakh to the family members of the deceased employee during the service. If the employee’s death was caused by corona, he could also claim it.
PM Kisan: The 8th installment did not come even after the FTO was created, so do it
Under the EDLI, this money is received by the PF account holder nominee. But if the account holder does not make anyone his nominee, then the employee’s wife and children can also claim for money.
How is calculus
According to the latest update from the EDLI, a bonus of 35 times + the basic salary of the last 12 months will be paid to the employee’s family or nominee Suppose someone’s salary is Rs 15,000, which is 35 times the sum of Rs 5,25,000. And if you add 1,75,000 more, it will cost you Rs 7 lakh. In the past, only Rs 6 lakh was raised through this scheme. The best part of this plan is that once an employee starts a PF offer, he is entitled to it. There is no need to fill out any additional form.
Madhya Pradesh government takes care of ‘poor’ alcoholics, country liquor is now sold in 90 ml packs
