Srinagar, Apr 15: Employees Provident Fund Organisation (EPFO) Srinagar on Friday organised a seminar on various schemes framed under EPF and MP Act, 1952 in association with Muslim Education Institute, Pampore(MEI) under the “NidhiApkeNikat” programme.
As per the statement, RizwanUddin, PF Commissioner, J&K and Ladakh attended the programme along with AnkurJanghu, Enforcement Officer.
It said that the benefits of the Employees Deposit Linked Insurance Scheme and the Employees’ Pension Scheme were elaborately explained to the participants assembled on the premises from adjoining Educational Institutions of Srinagar.
After implementation of EPF and MP Act, 1952 in the UTs of J& K and Ladakh, employees are entitled to an Insurance Scheme titled Employees Deposit Linked Insurance Scheme, 1976 to a maximum of Rs 7 lakh (in the event of serving members).
“A minimum of Rs 2.5 lakh is paid to the dependant/nominee of the deceased member if the employee has been a member for a continuous period of one year. Insurance benefits vary according to the length of service and the balance amount in the PF account of the member. PF Commissioner, J&K and Ladakhemphasised the need to maintain as much balance in PF Account as the members can, to get maximum benefit under EDLI,” the statement reads.