Dear sir, If we go for LIC instead of EDLI in PF what are the benefits?
From India, Hyderabad
From India, Hyderabad
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
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With LIC you will get host of benefits than EPF office. Some of the salient features of Group EDLI Policy from LIC are below.
1. In case of unfortunate death of a member, the dependent will get six lakhs but in EPF Scheme, the dependent will only get one year average balance amount of the member.
2. Hassle free settlement from LIC,
3. You need to form a trust in your company and the trust will operate the scheme with LIC.
4. Annual premium will be payable in LIC than monthly premium at EPF Scheme.
5. Comparing contributions payable to EPF Scheme, LIC premium are cheaper and affordable.
6. You can contact LIC office for more features of the policy.
From India, New Delhi
1. In case of unfortunate death of a member, the dependent will get six lakhs but in EPF Scheme, the dependent will only get one year average balance amount of the member.
2. Hassle free settlement from LIC,
3. You need to form a trust in your company and the trust will operate the scheme with LIC.
4. Annual premium will be payable in LIC than monthly premium at EPF Scheme.
5. Comparing contributions payable to EPF Scheme, LIC premium are cheaper and affordable.
6. You can contact LIC office for more features of the policy.
From India, New Delhi
PF benefits.doc