EPFO: Be aware that Form-5IF may be utilized to claim up to Rs. 7 lakh under EDLI

EPFO: Be aware that Form-5IF may be utilized to claim up to Rs. 7 lakh under EDLI

EPFO: Be aware that Form-5IF may be utilized to claim up to Rs. 7 lakh under EDLI

The free insurance offered to workers by EPFO is called EDLI. In the event that an EPFO member passes away while working, the organization's goal is to support his family financially.

You should be aware of EPFO's EDLI program (Employees Deposit Linked Insurance, or EDLI) if you work and have a monthly salary deposit of a particular amount. This program is managed by EPFO. Under this insurance plan, the family of an EPFO member who passes away for whatever cause while he is employed may get up to Rs 7 lakh in support. Most individuals are aware of this program, although they may not be familiar with Form-5IF. This form is used to claim the money received under the EDLI. Understand the unique aspects of this type.

These individuals may get the EDLI amount.

The nominee or legal heir of an EPF subscriber may make an insurance claim in the event of their untimely death. The candidate must be at least eighteen years old to qualify for this. His parents may file a claim on his behalf if it is less than this amount.

Form-5IF is completed offline.

Offline, Form-5IF is completed. After the claim has been attested, this form must be sent in to the regional EPF commissioner's office in order for the nominee to be eligible for any benefits in the event that the EPFO member passes away. All of the claimant's personal information is placed into this form, along with information on the deceased relative. During this process, a few crucial documents—such as the death certificate of the EPFO member, the succession certificate, the canceled check, etc.—must also be presented with the form. A guardianship certificate is required if the claim is being submitted on behalf of the minor's guardian.

The form needs to be checked.

Once this form has been completed and certified by the employer or business where the EPFO member was employed at the time of his death, it may be submitted. This circumstance could also occur while the business is closed; in this case, you can submit it after obtaining confirmation from the officials listed here:

Officer Gazetted Magistrate

Head of any accredited educational institution; Chairman of the Gram Panchayat in the absence of a Union Board; Secretary/Chairman of the Municipal/District Local Board; Members of Parliament/Assembly; Members of the CBT/Area Committee/EPF; Manager of the bank where you have an account.