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EPFO: Get Insurance Cover Worth ₹7 Lakhs Without Paying a Single Rupee—Complete This Essential PF Task Today

EPFO News: There is good news for active members of the Employees' Provident Fund Organization (EPFO). If you are actively associated with the EPFO, you could receive insurance coverage of up to ₹7 lakh—completely free of cost. You just need to complete one simple task.

EPFO News: Salaried individuals are, by default, members of the Employees' Provident Fund Organization (EPFO). However, not all employees are aware of every rule and benefit associated with it. Many people assume that the scheme merely involves salary deductions—funds that are eventually returned to them upon reaching retirement age. Simply put, for many, it is perceived as nothing more than a savings scheme.

However, that is not the case! In fact, the scheme also includes an embedded insurance policy—a feature of which very few people are aware. Yet, it is crucial for every individual to be informed about it. Under the Employees' Deposit Linked Insurance (EDLI) scheme, the EPFO ​​provides its members with insurance coverage of up to ₹7 lakh, without requiring them to pay any separate premium.

What is the EDLI Scheme?

Many employees remain unaware of this scheme, despite it serving as a vital source of financial support for their families. The benefits of the EDLI scheme are available to employees whose EPF accounts remain active—specifically, those whose employers are regularly depositing their PF contributions.

Under this scheme, should an employee pass away while still in service, their nominee or legal heir is eligible to receive an insurance payout of up to approximately ₹7 lakh. The employee is not required to pay any separate premium or fee for this coverage; the entire cost of the insurance is borne exclusively by the employer.

How to Avail of This Benefit?

To avail of this benefit, it is absolutely essential to complete one crucial task in a timely manner. Every EPFO ​​member must register an 'e-nomination' for their PF account. If the nominee's details are not up-to-date, the family may be required to submit additional documentation during the claim settlement process, which could result in delays in receiving the payout.

How to Complete the E-Nomination?

The e-Nomination process is quite simple. It does not require much effort on your part. If you haven't completed your e-Nomination yet, follow these steps:

• First, visit the official EPFO ​​website and log in using your UAN and password.
• Next, click on the 'Manage' section from the options displayed on the screen.
• Clicking on this will open a drop-down list, where you will find the 'e-Nomination' option.
• Select this option, fill in the nominee's details, and submit the form.
• After completing this process, it will take approximately one week for the details to update automatically.