PF EDLI Contribution On Basic Salary Or On EDLI Ceiling I.e. Rs.6,500/-!

Dear Seniors!
Please explain that the EDLI contribution on full basic salary, or on ceiling as mentioned in the epfo web site i.e. Rs.6,500/-.
If EDLI contribution is deposited on full basic salary is there any advantage of it from the authorities, or if paid on ceiling (Rs.6,500/-)as mentioned on the web site any advantage please explain.
Enclosed the EPFO EDLI Ceiling on the point (c).
Regards,

Even if you may EDLI on a higher amount the maximum compensation payable to an employee in case of his death while in employment (the very purpose of the scheme) would be limited to Rs 100000. Therefore, you should restrict payment of EDLI on salary of Rs 6500.
Regards,
Madhu.T.K

Dear Madhu,
just wanted to ask in case of death of an employee, what is the amount can be claimed from EDLI or what is the amount fixed by EDLI and which form is required to claim.
Regards,
Prerna
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In case of death the amount payable shall depend on his contribution to the fund and that is why EDLI is Employees "Deposit Linked" Insurance. Therefore, depending upon service the amount varies and the maximum amount payable is Rs 1 lakhs.
Regards,
Madhu.T.K

Hi
EDLI contribution be calculated on EPS salary i.e. with cap of 6500 or basic +Da whichever is less.
Regds
jmraju

As per EDLI Act 1976 that is a benefit for employee which will pay bye employeer ie 0.5% of basic wages on then challan.
thnks and regards
ashish
7838606486

EDLI amount of a deceased employee is calculated depends on PF contribution of employee and basic wages.
Claim for EDLI need to submit form 5IF- this form is available at epfindia.com/any PF regional offices
Shafi

EDLI is the abbreviation of Employees' Deposit Linked Insurance Scheme. Here deposit means average deposit in EPF. When an employee dies while in service, family will get some compensation based on his/her deposit. To get the claim, the employer has to pay 0.5% as its premium.

1. Determination of Deposit.

Average of deposit of last twelve months as well as total service, will be calculated and whichever is less being taken for the calculation.

2. Determination of Compensation.

Upto Rs. 50,000/- he will get actual. Beyond first 50,000/- he will get 40% of the rest; subject to ceiling of Rs. 100,000/-.

Eg. a) Deposit Rs. 100,000

For 1st 50000 - 50000, Next 50000 - 20000

Total - Rs. 70,000 (will get full amount as it is not more than 100,000).

Eg. b) Deposit Rs. 200,000

For 1st 50000 - 50000, Next 150,000 - 60000

Total - Rs. 110000 (will get Rs.100,000 only as it ecxeeds 100,000).

Eg. c) Deposit Rs. 300,000

For 1st 50000 - 50000, Next 250,000 - 100,000

Total - Rs. 150,000 (will get Rs. 100,000 only as it exeeds 100,000/-)

But there is better Insurance schemes with the same premium, even without cosidering the deposits. With this type of better benefits, some of the organisations are exempted from EDLI. Instead they are providing in lieu of EDLI. There are schemes which specifies Rs. 102,000/- for natuaral death and double benefits for accidental death.

Abbas.P.S, ITI Ltd, Palakkad 678 623.

Ph. +91 9447 467 667

EDLI contribution should be paid on maximum ceiling of 15000 or actual Basic +DA

Dear Vikas, EDLI Contribution is calculated by the portal for all Employees mentioned in ECR-EDLI Wages
EDLI Wages-Actual EPF Wages up to Maximum Present ceiling of Rs15,000/-
Example;
EPF Wages-20,000 EDLI Wages-15,000
EPF Wages-10,000 EDLI Wages-10,000