Understanding the EDLI Scheme 1976: How to Claim and Settle Amounts After an Employee's Passing

Request for Information on EDLI Scheme 1976

Please provide me with information regarding the EDLI scheme 1976 and the final amount to be settled after the death of the employee to the nominee. I would also like to understand the claim procedure. Your assistance in this matter would be greatly appreciated.

Regards,
Abhiram L. Kumar Kannepalli
[Phone Number Removed For Privacy Reasons]

Hi Friends, just now, I received the information that the EDLI amount in case of the death of an employee is ₹3.6 lakhs.

Regards,
Abhiram L. Kumar Kannepalli
[Phone Number Removed For Privacy Reasons]

Understanding the EDLI Insurance Benefit

EDLI is an insurance benefit that is paid to PF members who die while in service. The benefit is linked to the provident fund amount lying at credit, and the family will be entitled to a maximum sum assured of Rs 3.6 lakh if the employee worked with the same employer for less than 12 months. However, if an employee worked with the same employer for 12 months or more, they will be entitled to get the benefits of average wages for the last 12 months multiplied by 20. The maximum average wage can be Rs. 15,000 only, so the maximum benefit would be Rs. 3.6 lakh. The benefit will be paid to the same nominees/legal heirs who are eligible to receive the provident fund amount of the deceased member.

Mr. Aditya is correct to some extent. The maximum benefit towards EDLI is Rs. 3,60,000. However, this is not 20 times the salary. Prior to 01.09.2014, it was 20 times the salary. In the recent amendment, the ceiling salary was enhanced from Rs. 6,500 to Rs. 15,000, and the EDLI benefit was increased from 20 times to 24 times. Rs. 3,60,000 is 24 times Rs. 15,000, not 20 times.

Regards,
Abbas P.S

EPF Claiming Without Nomination

For EPF claiming, if the employee has not mentioned a nomination in the form, what basis do we need to consider for claiming in the case of the employee's death?

Regards, Prashant Rayar

The bank account numbers of the claimants, separate single accounts (no joint) for claimants above 18 years, a blank cancelled cheque leaf, and photocopies of passbooks will likely complete the exhaustive list provided by you.

Clarification on EDLI Contribution

For less than 12 months of contribution to EPF, will EDLI be 24 times the total deposit or 24 times the average monthly salary for the number of months worked?

EPFO announced that the EDLI benefit has been increased from 3.6 lakh to 6 lakh. Kindly post the latest circular.

What is the average wage during the calculation of EDLI benefits and the method used? Please tell.

Thanks.