The Government has enforced the decision of retirement fund body EPFO to almost double the maximum sum assured under its insurance scheme from 3.6 lakh to Rs 6 lakh for its 4 crore subscribers.
Earlier in September, the Employee Provident Fund Organisation’s apex decision making body Central Board of Trustees (CBT) had decided to increase benefits under the Employees’ Deposit Linked Insurance (EDLI) scheme from Rs 3.6 lakh to Rs 6 lakh. However, the notification to amend the scheme could not be issued by Labour Ministry as it was stuck in the Law Ministry.
So let’s discuss some questions related to this post :
1. Name the organization which has doubled the insurance for 4 crore subscription from 3.6 lakh to rs. 6 lakh ?
2. The Central Board of trustees (CBT) has decided to increase benefits under which scheme ?
Courtesy : Financial Express