Aid For Families lost Earning Member
Source : PIB
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Why in News ?
Government of India has announced further measures to help families who have lost the earning member due to Covid.
Key Facts
- Will provide pension to families of those who died due to Covid and an enhanced & liberalised insurance compensation.
- Efforts are being made to mitigate financial difficulties that may be faced by them.
Measure Taken
Family Pension under Employees State Insurance Corporation (ESIC)
- Benefit of ESIC pension scheme for employment related death cases is being extended.
- This is extended to the family those who have died due to Covid.
- What is the benefits ?
- Dependent family members of have the benefit of pension equivalent to 90% of average daily wage drawn by the worker.
Employees Provident Fund Organization- Employees’ Deposit Linked Insurance Scheme (EDLI)
- Amount of maximum insurance benefit has been increased from Rs. 6 lakh to Rs. 7 lakh.
- To benefit families of contractual/ casual workers
- The condition of continuous employment in only one establishment has been liberalized.
- Benefit made available to families of even those employees who may have changed jobs in the last 12 months preceding his death.
Employees Provident Fund Organization
- Contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India.
- The Board operates three schemes
By From website of EPFO, Fair use, Link - EPF Scheme 1952
- Pension Scheme 1995 (EPS)
- Insurance Scheme 1976 (EDLI)
- It came into existence with the promulgation of the Employees’ Provident Funds Ordinance in 1951 and was replaced by the Employees’ Provident Funds Act, 1952.
- EPFO is under the Ministry of Labour and Employment, Government of India.
- It aims to extend the reach and quality of old age income security programs.
- The Central Board of Trustees administers assisted by the Employees’ PF Organization (EPFO), consisting of offices at 135 locations across the country.
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