The number of new shareholders of Employees’ Provident Fund Organization has increased during February 2021.
The Ministry of Labor has increased the maximum insurance amount to Rs 7 lakhs under the EDLI Scheme, 1976 in EPFO.
New Delhi. Coronavirus continues to wreak havoc in the country and now every day the number of deaths is increasing rapidly. Meanwhile, the EPFO has taken a big decision. In fact, the Ministry of Labor has increased the maximum insurance amount to Rs 7 lakhs under the Employees Provident Fund Organization or Employees’ Deposit Linked Insurance (EDLI) Scheme, 1976, which was till now Rs 6 lakhs. Under the scheme, the minimum insured amount has been kept at two and a half lakh rupees.