{"id":21143,"date":"2025-10-27T03:05:44","date_gmt":"2025-10-27T03:05:44","guid":{"rendered":"https:\/\/tezgyan.com\/index.php\/2025\/10\/27\/epfos-edli-scheme-offers-up-to-rs-7-lakh-life-cover-check-eligibility-and-benefits-banking-and-finance-news\/"},"modified":"2025-10-27T03:05:44","modified_gmt":"2025-10-27T03:05:44","slug":"epfos-edli-scheme-offers-up-to-rs-7-lakh-life-cover-check-eligibility-and-benefits-banking-and-finance-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2025\/10\/27\/epfos-edli-scheme-offers-up-to-rs-7-lakh-life-cover-check-eligibility-and-benefits-banking-and-finance-news\/","title":{"rendered":"EPFO\u2019s EDLI Scheme Offers Up To Rs 7 Lakh Life Cover: Check Eligibility\u00a0And\u00a0Benefits | Banking and Finance News"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div id=\"story-9660344\">\n<p><span class=\"jsx-395e0e0beb19cb6e jsx-4143937483\">Last Updated:<\/span><time class=\"jsx-395e0e0beb19cb6e jsx-4143937483\">October 27, 2025, 08:28 IST<\/time><\/p>\n<h2 id=\"asubttl-9660344\" class=\"jsx-c9f81425ec968c48 jsx-3529961748 asubttl-schema\">Employees Provident Fund Organisation offers EDLI scheme, giving EPF members life insurance up to Rs 7 lakh. Employers contribute 0.5 percent of wages.<\/h2>\n<div class=\"jsx-cc1b15cf85effb8b artsharwrp\"><a href=\"https:\/\/news18.co\/gnps-en-btn\" target=\"_blank\" class=\"jsx-91f4da8d48c13a79 gglebtn bgylw\"\/><\/p>\n<div id=\"artshare\" class=\"jsx-cc1b15cf85effb8b artshare\">\n<div class=\"jsx-cc1b15cf85effb8b stickdiv\">\n<div class=\"jsx-cc1b15cf85effb8b deskwrapstkdiv\">\n<div class=\"jsx-cc1b15cf85effb8b fontchange\"><img decoding=\"async\" src=\"https:\/\/images.news18.com\/dlxczavtqcctuei\/news18\/static\/images\/english\/font.svg\" height=\"30px\" width=\"30px\" alt=\"font\" title=\"font\" class=\"jsx-cc1b15cf85effb8b lazyload\"\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"jsx-c9f81425ec968c48 jsx-3529961748 amimg\"><img decoding=\"async\" alt=\"EPFO EDLI Scheme Explained: Life Insurance Benefit Up to Rs 7 Lakh for Employees\" title=\"EPFO EDLI Scheme Explained: Life Insurance Benefit Up to Rs 7 Lakh for Employees\" src=\"https:\/\/images.news18.com\/ibnlive\/uploads\/2021\/07\/1627283897_news18_logo-1200x800.jpg?impolicy=website&amp;width=400&amp;height=225\" loading=\"eager\" fetchpriority=\"high\" class=\"jsx-c9f81425ec968c48 jsx-3529961748\"\/><\/p>\n<p>EPFO EDLI Scheme Explained: Life Insurance Benefit Up to Rs 7 Lakh for Employees<\/p>\n<\/figure>\n<p id=\"0\" class=\"story_para_0\"><strong>What is EPFO\u2019s EDLI Scheme?<\/strong>\u00a0The Employees\u2019 Provident Fund Organisation runs the popular retirement savings scheme, where both employee and employer can contribute to build a financial cushion for employee for his\/her silver period. It is a popular one and most of us have a pretty good idea about it.<\/p>\n<p id=\"1\" class=\"story_para_1\">But not a lot of EPF subscribers have an idea that they are being covered under life insurance scheme called \u2018the Employees\u2019 Deposit Linked Insurance (EDLI) scheme, offering a cushion to family in times of mishap.<\/p>\n<h3>What Is EDLI Scheme?<\/h3>\n<p id=\"3\" class=\"story_para_3\">EDLI scheme provides life insurance to EPF subscribers. In case of death during service, the nominee of EPF member receives a minimum of Rs 2.5 lakh and up to Rs 7 lakh, based on the employee\u2019s salary and EPF balance.<\/p>\n<p id=\"4\" class=\"story_para_4\">Employers contribute 0.5% of wages, with no deduction from employees.<\/p>\n<h3>Who Is Eligible For EDLI?<\/h3>\n<p id=\"6\" class=\"story_para_6\"><strong>EDLI scheme is available for:\u00a0<\/strong><\/p>\n<ul class=\"listOncontentArticleUL\">\n<li>All employees of factories and establishments.<\/li>\n<li>It is a automatic membership for EPF employees.<\/li>\n<li>It is not applicable for tea factories in Assam.<\/li>\n<\/ul>\n<h3>What Are Benefits of the Scheme?<\/h3>\n<p id=\"9\" class=\"story_para_9\">It offers life insurance cover to its members, which is up to Rs 7 lakh in case of death during service.<\/p>\n<p id=\"10\" class=\"story_para_10\">Moreover, there\u2019s an assurance benefit paid to nominee\/legal heirs on death. Claims are processed within 20 days, ensuring quick financial support to the family.<\/p>\n<p id=\"11\" class=\"story_para_11\">Employers are responsible for contributions of both directly employed and contract workers.<\/p>\n<p id=\"12\" class=\"story_para_12\">Employers must remit contributions within 15 days of the close of every month by bank draft, cheque, cash, or electronic transfer.<\/p>\n<h3>What Happens If Employer Default On Contribution?<\/h3>\n<p id=\"14\" class=\"story_para_14\">According to EDLI rules, if an employer defaults on contributions, damages are charged at 1% of arrears per month (or part thereof).<\/p>\n<p id=\"15\" class=\"story_para_15\">Central Board may reduce or waive damages in cases like change of management, merger, or financial hardship (up to 100% waiver in special cases).<\/p>\n<h3>How To Assure Maximum Benefit?<\/h3>\n<p id=\"17\" class=\"story_para_17\">The scale of assurance benefit is dependent on average PF balance of last 12 months (with conditions). Alternatively, 35x average monthly wages (max Rs 15,000) + 50% of average balance, capped at Rs 1.75 lakh.<\/p>\n<p id=\"18\" class=\"story_para_18\">To calculate benefits, the average balance of last 12 months\u2019 PF contributions (employee + employer + interest) is considered.<\/p>\n<p id=\"19\" class=\"story_para_19\">Employees must maintain consistent contributions to ensure eligibility for higher assurance benefits<\/p>\n<div class=\"jsx-95088aad1b3c53cd atawrap\">\n<div class=\"jsx-95088aad1b3c53cd atadetailwrp\">\n<div class=\"jsx-95088aad1b3c53cd ataname\"><span class=\"jsx-95088aad1b3c53cd atthumb\"><\/p>\n<figure class=\"jsx-95088aad1b3c53cd\"><img decoding=\"async\" alt=\"Varun Yadav\" title=\"Varun Yadav\" src=\"https:\/\/images.news18.com\/ibnlive\/uploads\/2025\/02\/WhatsApp-Image-2025-02-11-at-14.38.33-2025-02-47cdd4fd31681cc3efe5087cb8bd1418.jpeg?impolicy=website&amp;width=60&amp;height=60\" class=\"jsx-95088aad1b3c53cd\"\/><\/figure>\n<p><\/span><\/p>\n<div class=\"jsx-95088aad1b3c53cd attitle\"><a href=\"https:\/\/www.news18.com\/byline\/varun-yadav-28203.html\" class=\"jsx-95088aad1b3c53cd atamail\">Varun Yadav<\/a><\/p>\n<p>Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst&#8230;<span class=\"jsx-95088aad1b3c53cd aurpdebtn\">Read More<\/span><\/p>\n<\/div>\n<\/div>\n<p>Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst&#8230;<!-- --> <span class=\"jsx-95088aad1b3c53cd aurpdebtn\">Read More<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"jsx-c9f81425ec968c48 jsx-3529961748 artcta\"><a href=\"https:\/\/news18.co\/n18egpab\" target=\"_blank\" rel=\"noopener noreferrer\">Follow News18 on Google<\/a>. Join the fun, play <a href=\"https:\/\/www.news18.com\/games\/\">QIK games on News18<\/a>. Stay updated with all the latest business news, including <a href=\"https:\/\/www.news18.com\/business\/markets\/\">market trends<\/a>,\u00a0<a href=\"https:\/\/www.news18.com\/topics\/stocks-to-watch\/\">stock updates<\/a>,\u00a0<a href=\"https:\/\/www.news18.com\/business\/tax\/\">tax<\/a>, IPO,\u00a0<a href=\"https:\/\/www.news18.com\/business\/banking-finance\/\">banking finance<\/a>, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also <span data-olk-copy-source=\"MessageBody\">Download the\u00a0<a href=\"https:\/\/onelink.to\/eng-article-eop\">News18 App<\/a> to stay updated.<\/span><\/div>\n<div class=\"jsx-c9f81425ec968c48 jsx-3529961748 atbtlink fp\"><span>First Published:<\/span><\/p>\n<div class=\"rs\">\n<p>October 27, 2025, 08:28 IST<\/p>\n<\/div>\n<\/div>\n<div id=\"coral-wrap\" class=\"jsx-ba4d8f086a12294f \">\n<div class=\"jsx-ba4d8f086a12294f coral-cont\">\n<div class=\"jsx-ba4d8f086a12294f coltoptxt\">Disclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our <a href=\"https:\/\/www.news18.com\/disclaimer\/\" class=\"jsx-ba4d8f086a12294f\">Terms of Use<\/a> and <a href=\"https:\/\/www.news18.com\/privacy_policy\/\" class=\"jsx-ba4d8f086a12294f\">Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\n<p><span class=\"jsx-c9f81425ec968c48 jsx-3529961748 rmbtn news18_read_more\">Read More<\/span><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.news18.com\/business\/banking-finance\/epfos-edli-scheme-offers-up-to-rs-7-lakh-life-cover-check-eligibility-and-benefits-ws-l-9660344.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last Updated:October 27, 2025, 08:28 IST Employees Provident Fund Organisation offers EDLI scheme, giving EPF members life insurance up to Rs 7 lakh. Employers contribute 0.5 percent of wages. EPFO EDLI Scheme Explained: Life Insurance Benefit Up to Rs 7 Lakh for Employees What is EPFO\u2019s EDLI Scheme?\u00a0The Employees\u2019 Provident Fund Organisation runs the popular&#8230;<\/p>\n","protected":false},"author":1,"featured_media":19952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-21143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/21143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/comments?post=21143"}],"version-history":[{"count":0,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/21143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media\/19952"}],"wp:attachment":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media?parent=21143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/categories?post=21143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/tags?post=21143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}