Doubt on the calculation of "Total EDLI Contribution (ER Share A/C 21)"
Option 1: Total EDLI Contribution (ER Share A/C 21) x Gross Wages
Option 2: Total EDLI Contribution (ER Share A/C 21) x EDLI Wages
Please suggest to us which option complies with the EPF Act.
Regards,
Sravan
From India, Mumbai
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Option 1: Total EDLI Contribution (ER Share A/C 21) x Gross Wages
Option 2: Total EDLI Contribution (ER Share A/C 21) x EDLI Wages
Please suggest to us which option complies with the EPF Act.
Regards,
Sravan
From India, Mumbai
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DO NOT WORRY ABOUT THE EDLI CALCULATION, IT IS DONT THE WEB SITE. YOU HAVE TO CALCULATE ON ADMIN CHARGES A?C 2 & A/c 22 ONLY
From India, Bengaluru
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From India, Bengaluru
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EDLI should be calculated on the total wages on which 12% is contributed by the employer. For example, if EPF contribution salary is Rs. 5,00,000/- per month, then EDLI would be calculated at 0.5% on Rs. 5,00,000/-, which is equal to Rs. 2,500/- per month. However, the total gross may be more than Rs. 5,00,000/- per month.
-V. Murali
From India, Madipakkam
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26-V. Murali
From India, Madipakkam
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Dear Sravan,
The Employees’ Deposit Linked Insurance (EDLI) contribution is applicable on salaries up to a ceiling (presently set at Rs. 15,000). There is no requirement to contribute beyond this ceiling limit. Compensation is capped based on the ceiling salary.
Regards,
Abbas P.S
From India, Bangalore
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The Employees’ Deposit Linked Insurance (EDLI) contribution is applicable on salaries up to a ceiling (presently set at Rs. 15,000). There is no requirement to contribute beyond this ceiling limit. Compensation is capped based on the ceiling salary.
Regards,
Abbas P.S
From India, Bangalore
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EPF Act.ppt