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PF insurance fund raised to 1.3 lakh
New Delhi: The meeting of provident fund trustees has decided to raise the limit of EPF insurance money (EDLI) given to employees who dies while in service, to Rs 1, 30,000 . At present the amount is Rs 60,000. The meeting also recognized the demand of the employees to give 20 times higher amount of Rs 6500 as EPF, which is set as the base for allotting the amount. Meet also decided to send back the direction of finance ministry to invest one portion of PF depot in share market. The meet said that if the government ensures safety for the funds of worker if there is loss in market. Only after getting such assurance that the subject need to be discussed further.
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Posted on: 17 Sep 2010
New Delhi: The meeting of provident fund trustees has decided to raise the limit of EPF insurance money (EDLI) given to employees who dies while in service, to Rs 1, 30,000 . At present the amount is Rs 60,000. The meeting also recognized the demand of the employees to give 20 times higher amount of Rs 6500 as EPF, which is set as the base for allotting the amount. Meet also decided to send back the direction of finance ministry to invest one portion of PF depot in share market. The meet said that if the government ensures safety for the funds of worker if there is loss in market. Only after getting such assurance that the subject need to be discussed further.
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