Dear Amit,
Your posts were very informative and valuable.
I have a small query, according to EDLI "14. Deposit-Linked Insurance Fund Account. – The amount received as the employer’s contribution and also the Central Government’s contribution to the Insurance Fund under sub-section 2 and 3 of section 6C shall be credited to an account called the “Deposit-Linked Insurance Fund Account”, and all expenses towards the cost of any benefits provided by or under the Scheme shall be met out of this account.
15. Investment of moneys belonging to the Insurance Fund. – (1) All moneys standing to the credit of the Insurance Fund as on 31st March, 1997 shall be kept in deposit with the Central Government in the Public Account, and the Central Government shall allow interest at a rate not less than 8-1/2 per cent per annum.
(2) The moneys credited as contributions to the Insurance Fund on and from the 1st day of April, 1997 shall be invested as per the investment pattern notified under paragraph 52 of the Employees’ Provident Funds Scheme, 1952."
Quotes that money credited..........shall be invested as per the investment pattern notified.....1952".
Could you please brief about as how can an employee get advantage of the insurance linked.
And how come an employer will link EDLI shceme with LIC or other insurance companies, what are the common procedure followed.
Regards,
Sashmita
Your posts were very informative and valuable.
I have a small query, according to EDLI "14. Deposit-Linked Insurance Fund Account. – The amount received as the employer’s contribution and also the Central Government’s contribution to the Insurance Fund under sub-section 2 and 3 of section 6C shall be credited to an account called the “Deposit-Linked Insurance Fund Account”, and all expenses towards the cost of any benefits provided by or under the Scheme shall be met out of this account.
15. Investment of moneys belonging to the Insurance Fund. – (1) All moneys standing to the credit of the Insurance Fund as on 31st March, 1997 shall be kept in deposit with the Central Government in the Public Account, and the Central Government shall allow interest at a rate not less than 8-1/2 per cent per annum.
(2) The moneys credited as contributions to the Insurance Fund on and from the 1st day of April, 1997 shall be invested as per the investment pattern notified under paragraph 52 of the Employees’ Provident Funds Scheme, 1952."
Quotes that money credited..........shall be invested as per the investment pattern notified.....1952".
Could you please brief about as how can an employee get advantage of the insurance linked.
And how come an employer will link EDLI shceme with LIC or other insurance companies, what are the common procedure followed.
Regards,
Sashmita