Death Benefit Of Rs.3,60,000/- Under EDLI, 1976

Sir,
we have opted Group Term Insurance with LIC in lieu of EDLI since, 1987. Now, we have to discontinue our scheme with lic if the claim settlement is better than lic. So, dear seniors and citehr subscribers please explain the claim settlement under employees provident fund organisation for the claim settlement of Rs.3,60,000/- under EDLI, 1976.

Dear Gunnam_bhagavan,
To my knowledge LIC provide Rs.3,62,000 on natural death and Rs. 7,24,000 on accidental death. (For double accident benefit, higher premium is to be paid.) This is the highest amount receivable towards EDLI for the time being.
Abbas.P.S

sir,
this message is not sufficient to me as you said that the amount is Rs.3,62,000/- under lic. But i want to know how to calculate the death benefit with different measures i.e. pf balance, last 60 month wages

Dear Friend,
As per lattest ammendment, EDLI benefit has been exceed upto Rs. 6,00,000.
Kindly do the needful.
Rgds

Dear friends,
In EDLI maximum benefit is 24 times of ceiling salary viz. 15000 which is Rs. 3,60,000. LIC is giving 2000 extra. Regarding EDLI hike to Rs. 6,00,000/-, EPFO has not released circular yet.
Abbas.P.S