NS Employee Deposit Linked Insurance Scheme Or EDLI There is an insurance cover provided by EPFO ​​(Employees Provident Fund Organisation) for the salaried employees of the private sector. It works in conjunction with the scheme EPF and Employees Pension Scheme (EPS). The limit of benefits is decided by the last drawn salary of the employee.

Registered Nominee of EDLI Scheme The EPF receives a lump sum payment in the event of the death of the member during the period of service. The nominee registered with EDLI is the same as the one who is registered in the Employees’ Provident Fund (EPF) scheme.

EPFO had recently tweeted about the features of the scheme from its official Twitter handle.

Here is a look at 5 key features of the EDLI scheme.

1. In case of death while in service, the nominee or legal heir of the EPF member will be given assured benefit up to a maximum of Rs 7 lakh.
2. Under the EDLI Scheme 1976, minimum assurance If the deceased member was in continuous employment for 12 months before his death, there is a benefit of Rs 2.5 lakh.
3. This life insurance benefit being given to EPFO ​​member is free of cost for PF/EPF account holders. Minimum contribution by the employer on 0.5% of the employee’s monthly salary, up to a salary limit of Rs 15,000; No contribution by employee
4. auto enrollment of PF Member in EDLI Scheme
5. Profit credited directly to the bank account of legal heir or nominee

Read also:
How a nominee can file a claim in EPF, EPS and EDLI online after the death of a person