Hi, this is G. Gangadhar. I have two years of experience as an HR Executive in a private limited company. Theoretically and practically, I don't have much idea, so please, can anybody help me by providing information on ESI and EDLI?
THIS IS MY EMAIL ID: [G.Gangadhar6@gmail.com](mailto:G.Gangadhar6@gmail.com)
From India, Kurnool
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THIS IS MY EMAIL ID: [G.Gangadhar6@gmail.com](mailto:G.Gangadhar6@gmail.com)
From India, Kurnool
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Please see the below links to know about PF & ESIC.
- [KVJ RAGHUNATH: THE EMPLOYEES' PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952](http://epfa1952.blogspot.com/2010/06/employees-provident-funds-and.html)
- [KVJ RAGHUNATH: Information on ESIC](http://esia1948.blogspot.com/2010/07/information-on-esic.html)
Please send your feedback and suggestions that would help me to further develop this site.
KVJ Raghunath
<i>(Link outdated-removed)</i>
<i>([Search On Cite](https://www.citehr.com/results.php?q=KVJ%20RAGHUNATH) | [Search On Google](https://www.google.com/search?q=KVJ%20RAGHUNATH))</i>
9701966688
From India, Vijayawada
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42- [KVJ RAGHUNATH: THE EMPLOYEES' PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952](http://epfa1952.blogspot.com/2010/06/employees-provident-funds-and.html)
- [KVJ RAGHUNATH: Information on ESIC](http://esia1948.blogspot.com/2010/07/information-on-esic.html)
Please send your feedback and suggestions that would help me to further develop this site.
KVJ Raghunath
<i>(Link outdated-removed)</i>
<i>([Search On Cite](https://www.citehr.com/results.php?q=KVJ%20RAGHUNATH) | [Search On Google](https://www.google.com/search?q=KVJ%20RAGHUNATH))</i>
9701966688
From India, Vijayawada
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EDLI is the abbreviation of Employees' Deposit Linked Insurance Scheme. Here, deposit means the average deposit in EPF. When an employee dies while in service, the family will receive some compensation based on his/her deposit. To make a claim, the employer has to pay 0.5% as its premium.
Determination of Deposit:
The average deposit of the last twelve months as well as total service will be calculated, and whichever is less will be taken for the calculation.
Determination of Compensation:
Up to Rs. 50,000, he will receive the actual amount. Beyond the first Rs. 50,000, he will receive 40% of the rest; subject to a ceiling of Rs. 100,000.
For example:
a) Deposit Rs. 100,000
For the first Rs. 50,000 - Rs. 50,000, Next Rs. 50,000 - Rs. 20,000
Total - Rs. 70,000 (will receive the full amount as it does not exceed Rs. 100,000).
b) Deposit Rs. 200,000
For the first Rs. 50,000 - Rs. 50,000, Next Rs. 150,000 - Rs. 60,000
Total - Rs. 110,000 (will receive Rs. 100,000 only as it exceeds Rs. 100,000).
c) Deposit Rs. 300,000
For the first Rs. 50,000 - Rs. 50,000, Next Rs. 250,000 - Rs. 100,000
Total - Rs. 150,000 (will receive Rs. 100,000 only as it exceeds Rs. 100,000/-)
However, there are better insurance schemes with the same premium, even without considering the deposits. Some organizations are exempted from EDLI and provide better benefits instead. These schemes specify more than Rs. 100,000 for natural death and double benefits for accidental death.
Abbas.P.S, ITI Ltd, Palakkad 678 623.
Ph. +91 9447 467 667
From India, Bangalore
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Determination of Deposit:
The average deposit of the last twelve months as well as total service will be calculated, and whichever is less will be taken for the calculation.
Determination of Compensation:
Up to Rs. 50,000, he will receive the actual amount. Beyond the first Rs. 50,000, he will receive 40% of the rest; subject to a ceiling of Rs. 100,000.
For example:
a) Deposit Rs. 100,000
For the first Rs. 50,000 - Rs. 50,000, Next Rs. 50,000 - Rs. 20,000
Total - Rs. 70,000 (will receive the full amount as it does not exceed Rs. 100,000).
b) Deposit Rs. 200,000
For the first Rs. 50,000 - Rs. 50,000, Next Rs. 150,000 - Rs. 60,000
Total - Rs. 110,000 (will receive Rs. 100,000 only as it exceeds Rs. 100,000).
c) Deposit Rs. 300,000
For the first Rs. 50,000 - Rs. 50,000, Next Rs. 250,000 - Rs. 100,000
Total - Rs. 150,000 (will receive Rs. 100,000 only as it exceeds Rs. 100,000/-)
However, there are better insurance schemes with the same premium, even without considering the deposits. Some organizations are exempted from EDLI and provide better benefits instead. These schemes specify more than Rs. 100,000 for natural death and double benefits for accidental death.
Abbas.P.S, ITI Ltd, Palakkad 678 623.
Ph. +91 9447 467 667
From India, Bangalore
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Employee Benefits.doc
Employee Benefits.zip