Payout from EPFO insurance scheme is tax free: Check details here

Financiers buy into India's used car business amid uptick in demand


The minimum death benefit under the scheme has been fixed at Rs 2.5 lakh, with effect from February 15, 2020. A bonus is also available under the scheme. The maximum is Rs 1.75 lakh

Topics

EPFO | insurance cover | Insurance scheme

In a bid to support employees affected by the coronavirus pandemic, the Employees’ Provident Fund Organisation (EPFO) raised the maximum benefit available under the Employees’ Deposit Linked Insurance (EDLI) scheme from Rs 6 lakh to Rs 7 lakh (35 times the basic salary), according to a gazette notification dated April 29, 2021. The minimum death benefit under the scheme has been fixed at Rs 2.5 lakh, with effect from February 15, 2020.

A bonus is also available under the scheme. The maximum is Rs 1.75 lakh. Prashant Singh, business head, compliance and payroll outsourcing, …




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First Published: Wed, May 12 2021. 06:10 IST





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