₹7 lakh to the family of the deceased To combat financial difficulties faced by the families of active employees who have lost their lives due to covid-19, the Employees Provident Fund Organisation (EPFO) will now provide the overall maximum death insurance benefits of ₹7 lakh under the Employees’ Deposit-Linked Insurance (EDLI) scheme.The scheme’s purpose is to ensure that the family gets financial assistance in case of the member’s death.While the maximum limit has been raised from ₹6 lakh to ₹7 lakh, the minimum sum has been increased to ₹2.5 lakh.
These new limits are in effect for three years from 28 April.EDLI is one of the schemes formulated under the Employees’ Provident Fund and Miscellaneous Provisions Act (EPF and MP Act),.