EPFO Employees Set To Benefit From Enhanced Insurance Coverage Of Up To ₹7 Lakhs, Ensuring Greater Financial Security | Paisa Live

Good news for nearly 60 million members of the EPFO. The decision has been made to extend the Employee Deposit Insurance Linked Scheme retroactively from April 28, 2024. This extension provides members with life insurance coverage of up to ₹7 lakhs. An official notification was issued on April 28, 2021, regarding the EDLIS scheme, which increased the minimum and maximum benefits for legal heirs for three years. Under this scheme, the minimum benefit has been set at ₹2.5 lakhs, while the maximum benefit is now ₹7 lakhs. This enhancement aims to provide greater financial security to employees and their families in the event of unforeseen circumstances. For more detailed information, viewers are encouraged to watch the full video until the end.