• MEYO

EPFO hikes Employees' Deposit Linked Insurance benefits to up to ₹7L

The Employees' Provident Fund Organisation (EPFO) has increased the maximum assurance benefit under the Employees' Deposit Linked Insurance scheme to up to ₹7 lakh from ₹6 lakh. Under the scheme, a nominee gets a lump sum payment in case of death of an EPFO member and the insurance cover depends on the salary drawn in last 12 months of employment.