EPFO likely to raise maximum insurance cover to Rs 5.5 lakh

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Retirement fund body EPFO is likely to increase the maximum amount assured under its Employees’ Deposit Linked Insurance Scheme (EDLI) to Rs 5.5 lakh from the existing Rs 3.6 lakh.

The proposal to raise the insurance benefit for over six crore subscribers of the Employees’ Provident Fund Organisation (EPFO) will be put up for approval of Pension and EDLI Implementation Committee on September 9, as per the agenda of the meeting.

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