Boss2966
Industrial Relations
Akatrap
Payroll, Domestic Inquiry, Administration,
517246471
Manager
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Dear Sir,
Please clear the concept of EDLI benefits under the EPF scheme.
If Employees completed 3 Yrs service and basic salary is 6500 , what amount of benefit to be received by his nominee in case of individual death.
Regds
Mahender
3rd October 2013 From India, Delhi
Dear Mahender,

All employers to whom the Employee's Provident Fund and Miscellaneous Provisions Act, 1952 applies, have a statutory liability to contribute to Employee's Deposit Linked Insurance scheme, 1976 to provide the benefit of Life Insurance to all their employees.

Under the scheme as amended with effect from 18th June, 2010

a) Insurance benefit is the average balance of the Provident Fund during the last 12 months (Provided that such balance does not exceeds Rs.1,00,000/- INR)

b) Insurance cover would be equal to Rs.50,000 plus 40% of the amount in excess of Rs.50,000 subject to a maximum of Rs.1,00,000.

c) The contribution @ 0.50% of each employee's salary is payable by the Employer to the Provident Fund Authorities.

For example:

a) If PF deposit is Rs.50,000, EDLI Benefit – Rs. 50,000

b) If PF deposit Rs. 1,00,000, EDLI Benefit – Rs.70,000 (50,000+20,000)

(For 1st 50,000 – 50,000, Next 50,000 – 40% of 50,000 i.e. Rs.20,000)

c) Deposit Rs. 2,00,000 EDLI Benefit – Rs.1,00,000 (50,000+50,000)

(For 1st 50,000 – 50,000, Next 1,50,000 – 40% of 1,50,000 i.e. Rs.60,000 - Total - Rs. 1,10,000 (will get Rs.1,00,000 only as it exceeds 1,00,000).

Hope this is clear to you.

Regards,

Avinash K.
3rd October 2013 From India, Mumbai
The Maximum Limit of EDLI is Rs.130000/-. I.e., 20 months of Basic Pay or the lesser pay the nominee/Legal heir will get from EDLI.
3rd October 2013 From India, Kumbakonam
EDLI is a kind of Insurance policy provied by EPFO. In this scheme, the employer contributes 0.5% of employee\'s Basic+DA into EDLI scheme, and 0.01% as administration charge to maintain EDLI to EPFO.
If an employee is under EPF Act, then he/she has to be insured by EDLI, until and unless the employer proves that the employer can provide a better insurance policy than that EPFO provides.
If an employee has Basic+DA more than Rs.6500 (let say Rs.8000), then employee will contribute 12% of Rs.8000, but the employer has to contribute 13.61% (3.67%+8.33%+1.1%+0.5%+0.01%) on only Rs.6500. There is no need to contribute on Rs.8000 by the employer.
4th October 2013 From India, Delhi
Dear Mahender, In addition to the post of Mr. Bhaskar, Calculation to be done on the actual basic paid and subject to the maximum of EDLI Basic i.e 6500 . Regards, Pushkar
5th October 2013 From India, Delhi
Sir,
To claim EDLI benefit the main criteria is that the death must have occured while in service. In the instant if the death had occurred while in service and if he had served with the same employer for 12 months, then the benefit would be 1,30,000/-
5th October 2013 From India, Vellore
Dear sir, for getting EDLI benefit, natural death is necessary? and what is the time for getting benefit?
6th October 2013 From India, Mumbai
There is no time limit. The only condition is that death must have occurred while in service Regards
6th October 2013 From India, Vellore
Its very good benefit for employees. Thnks a lot. But its compulsory in every organisation to get such kind of deductions.
6th October 2013 From India, Mumbai
If you are PF member, it is compulsory. It may be noted that the EDLI contributions is paid by the employer and no contribution is payable by the employee seprately. Regards Pradheep
6th October 2013 From India, Vellore
Any change or increasing of amount in case of death as on EDLI ? kindly suggest
26th September 2014 From India, Mumbai
Dear All
MY QUERY:
1. Current limit for EDLI is 360000 in pf , At the event of death of employee what amount he will get as EDLI amount .
2. Hows its calculated. Please clear it with example...
Thanks
6th November 2014 From India
Sir
What is Minimum service period required to get EDLI Benifit in year 2000.
Death accoured in Nov 2000.
(ie August 2000 to November 2000)
Pl reply me
Thanks
27th October 2018
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