The entire benefit of Rs 7 lakh is being given to the account holders by EPFO. If you are also EPFO Subscribers, then tell you how you can take advantage of it.
If you are also employed then you have a chance to get a bumper benefit of Rs 7 lakh. Many types of facilities are provided by EPFO to the employed people. Under this, now EPFO is giving you the benefit of the full 7 lakh rupees. If you are EPFO Subscribers then you can easily take advantage of this. For this, you only have to fill a form, only after which it can be taken advantage of. Let us know its complete process.
Apart from a pension, the benefit of life insurance also
Apart from PF and pension, the Employees’ Provident Fund Organization (EPFO) also gives the benefit of life insurance to its members, under which you get the benefit of Rs 7 lakh. The special thing is that this facility is available to the customers for free. No contribution is required for this.
EPFO tweeted
EPFO had given information about this by tweeting on its official Twitter handle. EPFO wrote in a tweet that all the subscribers of EPF are covered under the Employees’ Deposit Linked Insurance Scheme, 1976 (EDLI). Under the EDLI scheme, free insurance cover of up to Rs 7 lakh is available on every EPF account. Explain that if the member dies without any nomination, then it becomes difficult to process the claim. Let us know how you can fill in nomination details through an online medium.
Benefits available under EDLI
Let us tell you that all the subscribers of EPF are given the benefit of full Rs 7 lakh as free insurance on all EPF accounts under the Employees Deposit Linked Insurance Scheme, 1976 (EDLI).
This is how e-nomination can be done
1. You have to first go to the official website of EPFO https://www.epfindia.gov.in/ .
2. Here you have to first click on the ‘Services’ option.
3. After this you have to click on ‘For Employees’ here.
4. Now click on ‘Member UAN/Online Service (OCS/OTCP)’.
5. Now log in by entering UAN and Password.
6. After this select ‘e-Nomination’ in the ‘Manage’ tab.
7. After this the ‘Provide Details’ tab will appear on the screen, click on ‘Save’.
8. Click on ‘Yes’ to update the family declaration.
9. Now click on ‘Add Family Details’. More than one nominee can also be added.
10. Click on ‘Nomination Details’ to announce how much amount will come in the share of which nominee. After entering the details click on ‘Save
11. EPF Nomination’.
13. Click on ‘e-Sign’ to generate OTP. OTP will be sent to the mobile number linked with Aadhaar.
14. Enter the OTP in the specified space and click on submit.
