New Delhi, Sept. 16 -- The Union Cabinet decision to raise the Employees' Provident Fund Organisation (EPFO) wage ceiling from Rs.15,000 to Rs.25,000 could significantly increase the life insurance cover available to eligible EPFO members under the Employees' Deposit Linked Insurance (EDLI) scheme.

Under the current rule, EDLI provides a maximum benefit of Rs.7 lakh to eligible users. This is calculated using the user's monthly salary over the last 12 months, based on their applicable wage ceiling, plus a component tied to the average EPF balance.

( Rs.15,000 x 35) + Rs.1.75 lakh = Rs.7 lakh

If the wage ceiling is increased to Rs.25,000, the total benefit would be:

( Rs.25,000 x 35) + Rs.1.75 lakh = Rs.10.5 lakh

That is, the EDLI cov...