EDLI Scheme Update: In respect of Employees’ Provident Fund Organization (EPS) and Employees’ Deposit-Linked Insurance (EDLI) accounts, PF accumulation in the event of death of the nominee member EDLI (Employees’ Deposit Linked Insurance Scheme) and Receive part of the pension payment! This is the reason ! That enrollment is important for all savings, insurance and pension plans!
On joining the Employees’ Provident Fund Organisation/Employee Pension Scheme (EPS), members should nominate their nominees. In EDLI (Employees’ Deposit Linked Insurance Scheme) who will get PF amount in their credit as well as pension!
EDLI Scheme Update
There are two categories of persons enrolled for EPFO (Employees’ Provident Fund Organisation) and pension schemes, according to the marital status of the member. (Normally, EPF nominees are entitled to receive EDLI benefits! Please note that EDLI (Employees’ Deposit Linked Insurance Scheme) payment will be paid only in case of death “while in service”! Available on EPFO website EPF members As per the information booklet, steps are to be taken by the EPF/EPS members to submit their nomination details online.
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Graduates having “Family” for EDLI Scheme
Dependent parents are eligible in EDLI scheme or EPF! Whereas in the EPFO (Employees’ Provident Fund Organisation) scheme, dependent scheme or any person is eligible for nomination! The rule remains the same for male member or female member! EDLI (Employees’ Deposit Linked Insurance Scheme) nomination can be done for one or more persons of his family by duly mentioning the percentage of share.
unmarried who have “no family
Nomination can be made by any person or persons, irrespective of gender of EPFO (Employees’ Provident Fund Organisation) member, whether or not he/she is related to or even EPF/EDLI (Employees’ Deposit Linked Insurance Scheme) Even for any organization for planning! Any person can be a nominee under the EPS scheme.
If the member is a married person
Here is the list of eligible nominee for EPF/EDLI (Employees’ Deposit Linked Insurance Scheme) scheme for male member.
- his wife
- their children (whether married or unmarried)
- his dependent parents
- widow and children of his deceased son
Things to note: EDLI Scheme Update
If a member has a family while enrolling for EDLI (Employees’ Deposit Linked Insurance Scheme), it should be in favor of one or more members of his family for EPF/EDLI schemes, and by such member in favor of any such Enrollment done who is not a member! His family is zero!
The member has to make a fresh nomination on his marriage. And any nomination made before such marriage will be considered invalid.
If a member has no family at the time of nomination, the nomination may be made in favor of any person or persons; But, if the member later develops a family! So the nomination is considered invalid. And the member has to submit a fresh nomination.
EPFO (Employees’ Provident Fund Organisation) members can enroll their nominations through e-nomination in the member site an unlimited number of times, however only the most recent nomination will be valid!