The Central Board of Trustees of Employees Provident Fund (EPF) has decided to enhance the deposit linked Insurance benefit to 6 lakh rupees from the present 3 lakh 60 thousand. Speaking to reporters, Union Labour and Employment Minister Bandaru Dattatreya said it will benefit four lakh employees across the country. He said the board also recommended for removal of the condition of one year continuous employment. A report fom our correspondent:<br/><br/>AIR correspondent reports, the meeting of the Central Board of the Employees Provident Fund held in Hyderabad last evening has become significant with almost all members agreeing for enhancing the Insurance limit to 6 lakh rupees .In a major relaxation, the board also recommended for removing the present condition of one year continuous employment under one employer so that all members will get the benefit of the insurance. Labour Minister Bandaru Dattatreya also launched a Mobile App on which the EPF members can activate their Universal Account Number. Out of over 5 crore members, nearly 2 crore members have registered their UAN through either missed call or an SMS.
News On AIR | September 17, 2015 8:23 AM
Central Board of Trustees of EPF to enhance deposit linked Insurance benefit to 6 lakh rupees