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It is an insurance cover provided by the EPFO for private sector salaried employees. It was launched in 1976.
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Any employee who has an EPF account automatically becomes eligible for the EDLI scheme.
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The registered nominee receives a lump-sum payment in the event of the death of the person insured, during the period of the service.
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It applies to all organisations registered under the Employees Provident Fund and Miscellaneous Provisions Act, 1952.
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The EDLI scheme is managed on the basis of 0.5% of monthly wages paid by the employer to the fund and there is no employee contribution. The nominee registered by the employee is eligible to claim the benefit under the scheme.