New Delhi, May 31 -- The Employees Deposit Linked Insurance Scheme aka EDLI is an insurance cover provided by the Employees Provident Fund Organisation (EPFO) for salaried individuals hired in the private sector. It works in combination with the EPF (Employees' Provident Fund) and EPS (Employees' Pension Scheme).

Under the scheme, the registered employee's family receives a lump sum payout from the retirement fund body in case of death of the subscriber during the period of service. The extent of the payout is determined by the insured employee's last drawn salary.

The employee's organisation should have more than 20 employees to opt for the EDLI scheme. Employer contribution has to be 0.5% of the basic salary or a maximum of Rs.75 per ...