Understanding EDLI Claims: Is This Calculation for PF Members Accurate?

EDLI Claim Calculation for PF Members

For EDLI Claim, if unfortunately, a PF member passes away while in service with a total service period of 1.8 years, a 15k monthly average wage, and an 8500 Average PF Progressive Balance, is it correct that per the EPFO, for members exceeding 12 months of service, the EDLI Claim is to be calculated as 35 times the Average Monthly Wage plus 50% of the Average Progressive Balance? Therefore, 35 times 15,000 equals 525,000 plus 50% of the Average Progressive Balance. Thus, the eligible EDLI amount should be around 5.29 lacs. Is this correct? I am asking here since I haven't really seen anyone getting this high amount, and there seems to be quite a variation in feedback available from claimants.

EDLI Claim Calculation

If a PF member tragically passes away during their service period of 1.8 years, the EDLI (Employees' Deposit Linked Insurance) claim is calculated based on their last drawn basic salary, including dearness allowance. The benefit is generally 35 times the monthly salary, capped at ₹15,000 per month, resulting in a maximum amount of ₹5,25,000.

Additionally, a bonus of ₹2,50,000 is provided, making the total potential claim ₹7,75,000. The actual amount depends on the specific salary details and eligibility criteria at the time of the claim. It’s always advisable to confirm the calculation with the EPFO to ensure clarity and accuracy during this difficult time.