What's EDLI Scheme that provides insurance cover of up to ₹7 lakh?
Employees' Deposit Linked Insurance Scheme (EDLI) was launched by EPFO to provide life insurance benefits to EPF members. In case of death during service, the nominee receives a minimum of ₹2.5 lakh and up to ₹7 lakh, based on the employee’s salary and EPF balance. "Claims are processed...within 20 days, ensuring quick financial support to...family," EPFO wrote on its website.