The Board of Employees Provident Fund Organisation has decided to pay PF members loyalty-cum-life benefit of up to Rs 50,000/- at the time of retirement, for contributing to the Employees Provident Fund scheme for 20 years or more. The benefit will also be provided in case of permanent disability even if the members have contributed for less than 20 years.
The Board has also recommended a proposal of extending minimum assured benefit of Rs.2,50,000/- (Rs. Two lakh fifty thousand) on death of EDLI member. Provisions have also been recommended in EDLI Scheme for Loyalty cum life benefit to members on superannuation on completion of 58/60 years of age/total and permanent disablement with minimum 20 years of contributory service as a pilot project for two years. Thereafter the scheme will be reviewed.