Unemployed EPFO Members Get Life Insurance Reprieve
The govt has decided to continue providing life insurance to people who lose their jobs but are hired within 3 years.
Updated:
The government has decided to continue providing life insurance to people who lost their jobs as long as they get employed in three years. (Photo: Reuters)
ADVERTISEMENT
The government has decided to continue providing life insurance to people who lost their jobs as long as they get employed in three years, reports The Hindustan Times.
The state-run Employees’ Provident Fund Organisation (EPFO) plans to extend life insurance cover to people out of a job at a nominal premium amount for up to three years. Most organised sector workers lose insurance cover after they are unemployed.
The Finance Minister had overruled a decision of the Employees’ Provident Fund Organisation and cut the interest rate to 8.7 percent for the financial year 2015-16.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)
SCROLL FOR NEXT