PF Updates – If you are also a PF account holder then this news is for you. Actually, today in this news we are going to tell you about the facilities available to PF account holders. Which most people are not aware of…
EPFO: Crores of employed people in the country have provident fund accounts. Every month, some part of the employees’ salary is deducted and deposited in their PF account. The money deposited in the PF account. He works to financially secure the life of working people after retirement. If you also have a PF account, then today we are going to tell you about a very wonderful facility provided by EPFO, about which you might hardly be aware.
Under this facility, EPFO gives a special facility of Rs 7 lakh to its account holders. EPFO provides this special facility of Rs 7 lakh under the Employee Deposit Linked Scheme. This is a death insurance cover of Rs 7 lakh. This facility is completely free. In this you do not need to pay any separate money. Let us know about it in detail –
Under the Employee Deposit Linked Scheme, if the PF account holder unfortunately dies in an accident. In this situation, this money is given to the nominee decided by him.
Under the Employee Deposit Linked Scheme, a lump sum of Rs 2 lakh is paid. A maximum of Rs 7 lakh is paid.
You should be aware of what happens if the PF account holder does not register a nominee. In this situation, this insurance coverage is available to the employee’s life partner, son/daughter.
You do not need to make a separate application to register for the Employee Deposit Linked Scheme. EPFO members automatically get registered in this scheme. To claim this scheme, you must be above 18 years of age.
