Latest News
-
1:4 Bonus Shares, Rs 7 Dividend: Big Update Announced; Buy The FMCG Stock? -
1:10 Stock Split: 1 Rs 980 Smallcap Has Split Into Ten Shares; Check Out New Price Level, Fundamentals! -
Rs 2.50/Share Final Dividend: Record Date In Due Course; Buy The ITC Group Stock? -
Rs 95/Share Dividend: Record Date On 28th June; Buy Mahindra Group Stock To Be Eligible? -
5 Bonus, Rs 28/Sh Dividend: IT Giant Infosys Beats Estimates In Q4FY24, But ADR Falls Sharply; Here's Why! -
1:10 Stock Split Approved: Small Cap Stock Issues Warrants, Shares Gain 111% YTD -
Wipro Q4 Results Preview: Weak Demand Likely To Drag Revenue Sequentially, EBIT Margins Seen Stable -
Rs 6/Share Final Dividend Declared: Buy The Blue Chip Stock To Be Eligible? -
TCS Vs Infosys: Dividend History And Upcoming Rewards, Which IT Giant Is Better? -
LIC New Jeevan Shanti 858 Plan: How To Earn Rs 10,000 Pension Per Month After Retirement? Check Eligibility!
EPFO: Death Insurance Benefits Increased To Rs 7 Lakh Amid Second Wave
Employees' provident fund organization (EPFO), which is managed by the labour ministry, has raised the death insurance benefit for its insurance customers in the wake of the second wave of the covid-1 pandemic.
Subscribers to the EPFO's employees' deposit related insurance policy are covered by the clause. If one of these subscribers dies while operating, the death benefit is paid to the deceased subscriber's relatives.
The social security body, which has at least 50 million active subscribers, has announced that the minimum insurance limit has been raised to Rs250,000 and the maximum limit has been raised to Rs700,000.
Previously, the lower limit was Rs200,000 and the higher limit was Rs600,000.
At its virtual meeting on September 9, 2020, the Employees Provident Fund Organisation's (EPFO) Central Board of Trustees (CBT), led by Labour Minister Santosh Gangwar, agreed to increase the maximum amount assured under the EDLI scheme to Rs 7 lakh.
The only difference between the two programs is that although all EDLI subscribers are EPF members, not all EPF members are EDLI beneficiaries.
The Ministry of Labour and Employment, according to Gangwar, released a notification on Wednesday (April 28) to enforce the decision to increase the maximum amount assured payable under the EDLI scheme to Rs 7 lakh.
GoodReturns.in
