Dear Team,
I would like to inquire about the eligibility criteria for Employee Deposit Linked Insurance (EDLI). Could you please confirm if a person aged 59 years is eligible for EDLI? Also, do we need to make contributions for EDLI?
It is worth noting that we are not currently contributing to the Pension Fund for this individual as he is above 58 years of age.
Thank you and regards,
MCS
From India, Pune
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2I would like to inquire about the eligibility criteria for Employee Deposit Linked Insurance (EDLI). Could you please confirm if a person aged 59 years is eligible for EDLI? Also, do we need to make contributions for EDLI?
It is worth noting that we are not currently contributing to the Pension Fund for this individual as he is above 58 years of age.
Thank you and regards,
MCS
From India, Pune
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Since EDLI is a type of insurance, contributions to EDLI may be mandatory even for those above 58 years of age. I am sorry, I have not come across such a situation. We shall wait for more opinions in this regard. I will also get back to you soon.
Regards,
Madhu T.K
From India, Kannur
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Regards,
Madhu T.K
From India, Kannur
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EDLI (Above 58 Yrs)
To me, it seems that we continue to contribute to EDLI as long as the employee is in service. The EDLI is a type of insurance that provides a lump sum amount to the members of the family in case any casualty happens to the breadwinner while in service. This is a social security scheme whereby the employer has to contribute to the EDLI.
Trust I am being understood.
Regards, R. Srinivasan
From India, Madras
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To me, it seems that we continue to contribute to EDLI as long as the employee is in service. The EDLI is a type of insurance that provides a lump sum amount to the members of the family in case any casualty happens to the breadwinner while in service. This is a social security scheme whereby the employer has to contribute to the EDLI.
Trust I am being understood.
Regards, R. Srinivasan
From India, Madras
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Employees' Deposit Linked Ins Scheme 1976.pdf
Group Insurance Scheme in Lieu Of EDLI.doc