Dear All, 1. What is the benifit by adopting EDLI lic scheme ? 2. What are all the disadvantages of EDLI PF scheme? Can any one help me in this matter; Reg, Prasanna
From India, Bangalore
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1From India, Bangalore
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Dear Venkat,
My above posting was on 14.08.2010. On 08.01.2011, EPFO amended the scheme. As per the new provision, in addition to the above calculation, another calculation, viz. 20 times of salary subject to a salary ceiling of 6500 (Amount ceiling will be 6500 x 20 = 130000), was also introduced. Whichever is higher of these two will be taken into account. From 01.09.2014 onwards, 20 times is enhanced to 24 times, and the ceiling salary is enhanced to 15000. Hence, the amount is 24 x 15000 = 360000.
Abbas.P.S
From India, Bangalore
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My above posting was on 14.08.2010. On 08.01.2011, EPFO amended the scheme. As per the new provision, in addition to the above calculation, another calculation, viz. 20 times of salary subject to a salary ceiling of 6500 (Amount ceiling will be 6500 x 20 = 130000), was also introduced. Whichever is higher of these two will be taken into account. From 01.09.2014 onwards, 20 times is enhanced to 24 times, and the ceiling salary is enhanced to 15000. Hence, the amount is 24 x 15000 = 360000.
Abbas.P.S
From India, Bangalore
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Dear Mr. Abbas,
Thank you for your elaborate clarification. I have gone through the latest circular, which is also attached for reference, but nowhere was it mentioned about 24 instances of Rs. 15,000. Please do not mistake me; I would be grateful if you could provide evidence in the form of a circular, etc.
-Venkat
From India, Chennai
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Thank you for your elaborate clarification. I have gone through the latest circular, which is also attached for reference, but nowhere was it mentioned about 24 instances of Rs. 15,000. Please do not mistake me; I would be grateful if you could provide evidence in the form of a circular, etc.
-Venkat
From India, Chennai
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Dear Mr Abbas, Pl find the latest amendment from EPFO related with EDLI. - Venkat
From India, Chennai
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From India, Chennai
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Dear Mr. Venkat,
You may have missed the information that the number has been increased from 20 to 24. The second paragraph of the notification you provided can be quoted as follows:
"2. Additionally, the benefits under paragraph 22 of this scheme shall be increased by 20% in addition to the benefits admissible under sub-paragraphs (1), (2), & (3) of paragraph 22."
Calculating 20% of 20 results in an increase of 4, making it 24 times.
Abbas P.S
From India, Bangalore
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You may have missed the information that the number has been increased from 20 to 24. The second paragraph of the notification you provided can be quoted as follows:
"2. Additionally, the benefits under paragraph 22 of this scheme shall be increased by 20% in addition to the benefits admissible under sub-paragraphs (1), (2), & (3) of paragraph 22."
Calculating 20% of 20 results in an increase of 4, making it 24 times.
Abbas P.S
From India, Bangalore
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Hi guys, What is the minimum eligibility of claim this amount. Actually PF official said this claim for minimum eligibility is one year turned.
From India, Kolkata
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From India, Kolkata
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Friends,
The latest official Gazette notification is effective from 15-02-2018 regarding the enhancement in the EDLI benefits. Suppose an employee passed away on 02-02-2018, are the nominee/claimants eligible for the benefits under the revised amendment?
Thank you,
Sreedhara Murthy B N
From India, Bengaluru
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The latest official Gazette notification is effective from 15-02-2018 regarding the enhancement in the EDLI benefits. Suppose an employee passed away on 02-02-2018, are the nominee/claimants eligible for the benefits under the revised amendment?
Thank you,
Sreedhara Murthy B N
From India, Bengaluru
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Epf EDLI Amdmt Scheme 2018.pdf
Group Insurance Scheme in Lieu Of EDLI.doc