An important announcement. If a private company worker looses his life due to corona, provident fund is giving upto Rs.7 lakh. Private companies which has more than 20 workers should have been registered in PF. If workers working under such companies dies due to covid while working this compensation is given under Employees insurance scheme. This compensation has been increased from 6lakh to 7 lakh on April 28th. Regarding this employees provident fund said companies should pay 0.50% from their workers salary for their insurance. Other than corona if the death happens for any reason the family will get this compensation. If the workers dies while working after getting hospitalized also this compensation will be given. If the worker dies suddenly while working, even then they will get compensation. To get such compensation they should fill 50IF form and attach the required amount cheque and submit along with death certificate and nominee certificate. To get other benefits form 20 PF, form 10 pension should be filled. Within 1 week the amount can be received. The amount will be deposited directly to mentioned bank account of applicant. For the worker's family who is getting salary less than Rs.15000 will get equal amount of compensation. Minimum compensation will be Rs.2.5 lakhs. To get full benefits of it the PF applicant should have worked for minimum of 1 year in the company. If the worker has worked less than 1 year they will get amount equal to the PF amount saved. So workers you can get compensation for the death happens suddenly.
