The 190 th meeting of Central Board of Trustees (EPF) chaired by Union Minister for Labour & Employment Shri Mallikarjuna Kharge has decided on 15.9.2010 to enhance the ceiling limit of EDLI (Employees Deposit Linked Insurance) to Rs. 1,30,000, equivalent to 20 times of salary ceiling limit of Rs. 6500.
On Junne 18, 2010 this was enhanced from Rs. 60,000 to Rs. 100,000 vide GSR 523(E).
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623,
Ph. +91 9447 467 667
From India, Bangalore
517On Junne 18, 2010 this was enhanced from Rs. 60,000 to Rs. 100,000 vide GSR 523(E).
Abbas.P.S, ITI Ltd, PALAKKAD - 678 623,
Ph. +91 9447 467 667
From India, Bangalore
thanks for sharing..
what will be case where the period of employment is only for 4 months at the time of death of the employee?? is the dependent is eligible for the same as in notification.....??
reg
vikram
From India, Ahmadabad
what will be case where the period of employment is only for 4 months at the time of death of the employee?? is the dependent is eligible for the same as in notification.....??
reg
vikram
From India, Ahmadabad
I shall copy my posting on the EDLI hike on a similar thread, which will be useful in this regard.
abbasiti Join Date: May 2010
Location: Palakkad, Kerala
Posts: 818
Subject - Re: Amendment to EDLI Scheme made on 8.1.2011
Dear all,
The above notification on EDLI amendment will create a revelution in the history of EDLI. Till 08.01.2011 those who die immedietely after registering with EPF, will get only a minimum amount of one month contribution. For ceiling slary, this will be Rs. Rs. 1018.55 (12%(employee)+3.67%(employer)=15.67%, 15.67%x6500 = 1018.55).
As per the new notification, EDLI amount will be arrived as follows. 1) Calculate the entitled amount based on PF deposit subject to a ceiling of Rs. 1,00,000. 2) 20 times of salary suject to a salary ceiling of Rs. 6500. As per this calculation ceiling will be Rs. 1,30,000. Out of the above (1) &(2) whichever is high will be given as EDLI. In general 20 times of salary subject to a salary ceiling of Rs. 6500 will be ensured towards EDLI. For ceiling salary this will be Rs. 1,30,000. 130000/1018.55 = 127.63. i.e. the minimum is enhanced by 127.63 times!
Therefore w.e.f 08.01.2011 there will be a minimum of 20 times of EDLI applicable salary (this may vary subject to salary). The maximum will be Rs. 1,30,000.
Abbas.P.S
From India, Bangalore
abbasiti Join Date: May 2010
Location: Palakkad, Kerala
Posts: 818
Subject - Re: Amendment to EDLI Scheme made on 8.1.2011
Dear all,
The above notification on EDLI amendment will create a revelution in the history of EDLI. Till 08.01.2011 those who die immedietely after registering with EPF, will get only a minimum amount of one month contribution. For ceiling slary, this will be Rs. Rs. 1018.55 (12%(employee)+3.67%(employer)=15.67%, 15.67%x6500 = 1018.55).
As per the new notification, EDLI amount will be arrived as follows. 1) Calculate the entitled amount based on PF deposit subject to a ceiling of Rs. 1,00,000. 2) 20 times of salary suject to a salary ceiling of Rs. 6500. As per this calculation ceiling will be Rs. 1,30,000. Out of the above (1) &(2) whichever is high will be given as EDLI. In general 20 times of salary subject to a salary ceiling of Rs. 6500 will be ensured towards EDLI. For ceiling salary this will be Rs. 1,30,000. 130000/1018.55 = 127.63. i.e. the minimum is enhanced by 127.63 times!
Therefore w.e.f 08.01.2011 there will be a minimum of 20 times of EDLI applicable salary (this may vary subject to salary). The maximum will be Rs. 1,30,000.
Abbas.P.S
From India, Bangalore
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