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With LIC you will get host of benefits than EPF office. Some of the salient features of Group EDLI Policy from LIC are below.
1. In case of unfortunate death of a member, the dependent will get six lakhs but in EPF Scheme, the dependent will only get one year average balance amount of the member.
2. Hassle free settlement from LIC,
3. You need to form a trust in your company and the trust will operate the scheme with LIC.
4. Annual premium will be payable in LIC than monthly premium at EPF Scheme.
5. Comparing contributions payable to EPF Scheme, LIC premium are cheaper and affordable.
6. You can contact LIC office for more features of the policy.
From India, New Delhi
1. In case of unfortunate death of a member, the dependent will get six lakhs but in EPF Scheme, the dependent will only get one year average balance amount of the member.
2. Hassle free settlement from LIC,
3. You need to form a trust in your company and the trust will operate the scheme with LIC.
4. Annual premium will be payable in LIC than monthly premium at EPF Scheme.
5. Comparing contributions payable to EPF Scheme, LIC premium are cheaper and affordable.
6. You can contact LIC office for more features of the policy.
From India, New Delhi
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Financing LIC policies.doc
LIC.pdf