Crores of employees in the country have provident fund accounts. Every month, some part of the employee's salary is deducted and deposited in his provident fund account. This money deposited in the provident fund account helps to secure the life of the employees after retirement. If you also have a PF account. In such a situation, this news is especially for you. Today we are going to tell you about a great scheme run by EPFO for PF account holders, about which you would hardly know. The name of this scheme is the Employee Deposit Linked Scheme. Under this, PF account holders get a special facility of Rs 7 lakh. To avail of the benefits of this scheme, you do not have to pay any separate expenses. Let us know about it in detail -
This is a death insurance cover of Rs 7 lakh. Due to this, an employee unfortunately dies. In such a situation, the nominee is decided by him. He is given this cover of Rs 7 lakh.
Employee Deposit Linked Scheme was started in the year 1976. Under this scheme, a lump sum amount of Rs 2 lakh is given. 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 such a situation, the employee's life partner, son, or daughter gets the benefit of insurance.
There is no need for you to apply separately to register in this scheme. PF account holders automatically get registered in this scheme.
(PC: iStock)
