Bharatiya Janata Party (BJP) Rajya Sabha member of Parliament Ajit Gopchade has written a letter to Prime Minister Narendra Modi to increase the maximum cover under the Employees' Deposit Linked Insurance Scheme (EDLI) from Rs 7 lakh to Rs 10.50 lakh. Citing the hike in the Employees’ Provident Fund (EPF) wage ceiling from Rs 15,000 to Rs 25,000, a 67% rise, the MP also wants the government to examine the possibility of proportionately increasing the maximum EDLI cover to Rs 11.67 lakh.
The EDLI scheme is a life insurance policy for Employees' Provident Fund (EPF) members. Under the EDLI scheme, on the death of an EPF member during service, their nominee gets a minimum of Rs 2.5 lakh and a maximum of Rs 7 lakh as the insurance amount.
