Government has enforced the decision of retirement fund body EPFO to almost double the maximum sum assured under its insurance scheme from 3.6 lakh to 6 lakh rupees. It will benefit around four crore subscribers. Labour Minister Bandaru Dattatreya told reporters in New Delhi, that the notification to enhance amount has been issued. In September, Employee Provident Fund Organization's apex decision making body Central Board of Trustees had decided to increase benefits under the Employees' Deposit Linked Insurance (EDLI) scheme to six lakh rupees
News On AIR | May 27, 2016 7:37 AM
EPFO doubles insurance for subscribers to Rs 6 lakh