New Delhi, June 2 -- Do you contribute a part of your salary to the Employees Provident Fund (EPF)? If yes, you are eligible for life insurance up to Rs.7 lakh under the Employees Deposit Linked Insurance (EDLI) scheme.

In other words, if an EPF member passes away while in service, the Employees Provident Fund Organisation (EPFO) will give their nominees or legal heirs up to Rs.7 lakh, depending on the employee's service period and last 12 months of salary.

Also, unlike with EPF, in which employees contribute 12% of their basic salary and dearness allowance (PF wages), you don't have to pay any premium for EDLI. Employers contribute 0.5% of each employee's PF wages, up to a maximum of Rs.75 per employee per month, to enrol them under ED...