You likely know that if you work, your PF is deducted. Your office also deposits the same amount into your account. If your PF is also deducted, this news is extremely important for you. In fact, the Employees' Provident Fund Organization provides free life insurance of up to ₹7 lakh to each of its members without any additional cost or premium.

Employed individuals are generally unaware of this significant benefit. This government scheme is called EDLI. In the event of an employee's death or an untoward incident while on the job, this money is directly transferred to their family or nominee. There's no need for the employee to fill out a separate form or undergo a medical test. As long as you remain an active EPF member, this security cycle continues to operate automatically.

How this government is insurance activated without premium?
The biggest feature of this insurance cover is that not a single penny is deducted from the employee's salary for this. It does not require any additional paperwork. As soon as an employee joins a company and his PF account is opened, he becomes eligible for this life insurance scheme. According to insurance experts, if an EPF member dies during his service (job), then this lump sum insurance amount is given to his nominee or legal heir.

PC- Newsbytesapp.com