As per the notification, the beneficiary household will likely be eligible for a minimal assurance advantage of Rs 50,000 within the occasion of demise of an worker even when his common provident fund stability is lower than Rs 50,000.
Additional, for the aim of figuring out the continual interval of twelve months required for eligibility of minimal assurance advantages payable underneath the scheme, the hole of as much as sixty days between two spells of employment shall be ignored and such a number of companies shall be added being handled as steady service, it mentioned.
“Within the occasion an worker who's a member of the Fund or of a provident fund exempted underneath part 17 of the Act, because the case could also be, dies in service inside six months of the final contribution acquired whereas nonetheless being on the rolls of the employer, such an worker shall get the reassurance profit as per the Scheme,” it added.
The central board of trustees of EPFO had authorised these amendments to the EDLI scheme in its final assembly on February 28, 2025.
The EDLI scheme is a part of the Workers' Provident Fund (EPF) and acts as a social safety profit. It gives monetary help to the dependents of an EPF member within the occasion of the premature demise of the EPF member whereas nonetheless employed.
