HI! THIS IS K. RAVI KUMAR FROM HYDERABAD. I' WOULD LIKE TO KNOW ABOUT THE EDLI (EMPLOYEES DEPOSIT LINKED INSURANCE SCHEME). REQUIRE SOME MATERIAL ON THIS EDLI. REGARDS K. RAVI KUMAR. PH: 09989111149
From India, Hyderabad
2From India, Hyderabad
Dear Raj
I' would like to know about EDLIS. Why it is included in the PF ACT OF 1952. And why one should contribute to the EDLIS. What are the benefits or use of this. Please reply soon. And please give me your E-mail address as well as your Contact Number.
Thanking you
Yours faithfully,
K. Ravi Kumar.
E-mail:
Ph: 09989111149
From India, Hyderabad
I' would like to know about EDLIS. Why it is included in the PF ACT OF 1952. And why one should contribute to the EDLIS. What are the benefits or use of this. Please reply soon. And please give me your E-mail address as well as your Contact Number.
Thanking you
Yours faithfully,
K. Ravi Kumar.
E-mail:
Ph: 09989111149
From India, Hyderabad
Hello Ravi, Pl find attached ppt on EDLI in brief. Hope it will help you to understand the EDLI scheme and its benefits. Regards, Ashutosh Chaturvedi 09860060437
From India, Mumbai
From India, Mumbai
EDLI is the abbreviation of Employees' Deposit Linked Insurance Scheme. Here deposit means average deposit in EPF. When an employee dies while in service, family will get some compensation based on his/her deposit. To get the claim, the employer has to pay 0.5% as its premium.
1. Determination of Deposit.
Average of deposit of last twelve months as well as total service, will be calculated and whichever is less being taken for the calculation.
2. Determination of Compensation.
Upto Rs. 50,000/- he will get actual. Beyond first 50,000/- he will get 40% of the rest; subject to ceiling of Rs. 100,000/-.
Eg. a) Deposit Rs. 100,000
For 1st 50000 - 50000, Next 50000 - 20000
Total - Rs. 70,000 (will get full amount as it is not more than 100,000).
Eg. b) Deposit Rs. 200,000
For 1st 50000 - 50000, Next 150,000 - 60000
Total - Rs. 110000 (will get Rs.100,000 only as it ecxeeds 100,000).
Eg. c) Deposit Rs. 300,000
For 1st 50000 - 50000, Next 250,000 - 100,000
Total - Rs. 150,000 (will get Rs. 100,000 only as it exeeds 100,000/-)
But there is better Insurance schemes with the same premium, even without cosidering the deposits. With this type of better benefits, some of the organisations are exempted from EDLI. Instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Abbas.P.S, ITI Ltd, Palakkd - 678 623
Ph. +91 9447 467 667
From India, Bangalore
1. Determination of Deposit.
Average of deposit of last twelve months as well as total service, will be calculated and whichever is less being taken for the calculation.
2. Determination of Compensation.
Upto Rs. 50,000/- he will get actual. Beyond first 50,000/- he will get 40% of the rest; subject to ceiling of Rs. 100,000/-.
Eg. a) Deposit Rs. 100,000
For 1st 50000 - 50000, Next 50000 - 20000
Total - Rs. 70,000 (will get full amount as it is not more than 100,000).
Eg. b) Deposit Rs. 200,000
For 1st 50000 - 50000, Next 150,000 - 60000
Total - Rs. 110000 (will get Rs.100,000 only as it ecxeeds 100,000).
Eg. c) Deposit Rs. 300,000
For 1st 50000 - 50000, Next 250,000 - 100,000
Total - Rs. 150,000 (will get Rs. 100,000 only as it exeeds 100,000/-)
But there is better Insurance schemes with the same premium, even without cosidering the deposits. With this type of better benefits, some of the organisations are exempted from EDLI. Instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Abbas.P.S, ITI Ltd, Palakkd - 678 623
Ph. +91 9447 467 667
From India, Bangalore
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