Big announcement from EPFO.
A relief news has emerged for the employees and their families., Employees Provident Fund Organization i.e. EPFO has issued an important circular, which will provide huge benefits to employees changing jobs and their dependents, With this new decision, breaks in service due to weekends and government holidays will no longer be considered, due to which disputes related to death claims can be eliminated to a great extent.,
will not be considered due to leave service brake
EPFO It has been clarified that if an employee leaves one company and joins another company and in between there is only Saturday, Sunday or any declared holiday, then it will not be considered as a break in service., Earlier, it was seen in many cases that when there was a weekend between two jobs, the employee’s service was considered broken, due to which his family was not able to get the benefits related to insurance and pension.,
Why was this decision taken,
EPFO Said that many such cases have come to light, where after the death of the employee, his family gets Employees Deposit Linked Insurance i.e. EDLI Claim rejected only due to minor gap or less amount paid, Many times the officials did not calculate the service correctly, due to which the dependents suffered losses., This new circular has been issued to eliminate this problem.,
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What will be the new definition of continuous service?,
Now, if an employee has only weekly off, national holiday, gazetted holiday, state holiday or restricted holiday between the end of one job and the start of another job, then his service will be considered as continuous., EPFO It has also been said that even if there is a gap of maximum 60 days at the time of changing job, the service will still be considered continuous.,
EDLI Big relief to families regarding claims
EPFO by EDLI The minimum payment received under the scheme has also been increased., Now a minimum of Rs 50,000 will be paid to the nominee or legal heir even if the employee has not completed 12 months of continuous service, This benefit will be available even if the average balance in the employee’s PF account is less than Rs 50,000.,
In which cases minimum payment will be given
The new rule will also be applicable in cases where the employee dies within six months of his last PF contribution, provided the employee is still registered in the records of the employer., This means that the family will no longer have to face lengthy legal processes or disputes over insurance claims.,