EDLI Amendment and Benefit Calculation
This is related to the EDLI amendment that was done on 24th May 2016. As per the amendment, the EDLI benefit amount has been increased from Rs. 3,60,000/- to Rs. 6,00,000/-. The mode of calculation is as follows: Rs. 15,000/- x 30 = Rs. 4,50,000/- + Rs. 1,50,000/- = Rs. 6,00,000/-.
Now, regarding the contractual laborer whose wage is Rs. 12,000/- per month and whose PF balance is almost nil: He joined on 1st June 2016 and died on 7th July 2016 due to an accident. He will receive an EDLI benefit of Rs. 12,000/- x 30 = Rs. 3,60,000/- plus an additional amount of Rs. 1,50,000/-. Thus, the total amount will be Rs. 5,10,000/-.
Is this the correct calculation as per the new amendment?
From India, Kolkata
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7This is related to the EDLI amendment that was done on 24th May 2016. As per the amendment, the EDLI benefit amount has been increased from Rs. 3,60,000/- to Rs. 6,00,000/-. The mode of calculation is as follows: Rs. 15,000/- x 30 = Rs. 4,50,000/- + Rs. 1,50,000/- = Rs. 6,00,000/-.
Now, regarding the contractual laborer whose wage is Rs. 12,000/- per month and whose PF balance is almost nil: He joined on 1st June 2016 and died on 7th July 2016 due to an accident. He will receive an EDLI benefit of Rs. 12,000/- x 30 = Rs. 3,60,000/- plus an additional amount of Rs. 1,50,000/-. Thus, the total amount will be Rs. 5,10,000/-.
Is this the correct calculation as per the new amendment?
From India, Kolkata
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PF CHALLAN & CALCULATION SHEET.xls
EDLI 18 June 2010 amendment.pdf