NEW DELHI: Employees in the organised sector could get free insurance cover of up to Rs 6.5 lakh from next financial year under a scheme run by the government’s retirement funds manager.
The Employees’ Provident Fund Organisation (EPFO) will consider raising the cover under its deposit-linked insurance scheme to 100 times the basic salary in a review early next year.
Currently, the scheme offers free life insurance of 20 times an employee’s basic pay with a ceiling of Rs 6,500.
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EPFO weighs lifting life cover cap to Rs 6.5L - The Economic Times