Insurance cover increased to Rs6 lakh for EPF subscribers
facebooktwitter

Insurance cover increased to Rs6 lakh for EPF subscribers

Last year the organisation paid Rs180 crore to about 30,000 beneficiaries

  • September 16, 2015  
  • |  
  • UPDATED   18:40 IST

In a move that will benefit its 4 crore members,  Employees' Provident Fund Organisation has increased insurance benefits (under its Employees Deposit Linked Insurance Scheme 1976) from the present maximum of Rs 3,60,000 to Rs 6,00,000. Last year the organisation paid Rs180 crore to about 30,000 beneficiaries. The central board of EPF has also recommended removal of the condition of continuous employment of one  year under current employer before being eligible for insurance benefits.

EPFO has also launched EPF mobile app through which the members can activate their universal account number (UAN) and gain access to their accounts through missed call and SMS also. Further a toll free missed call facility has also been launched. This application is now available for download on www.epfindia.gov.in. Almost 5.4 crore UAN numbers issued till date and out of these 1.8 crore are activated.