Arvind Sir if your organization is under group insured then you dont need to deposit EDLI, but ensure that first, you have to intimate in EPF Dept. about your insurance plan.
From India, Dehra Dun
Acknowledge(0)
Amend(0)
24From India, Dehra Dun
Acknowledge(0)Amend(0)
not covered right now but i want to covered by a group insurance. some employees are already covered in epf. now i want to all the employees covered by G.I.
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Whether revised maternity Act has come to force or not ? Wherein maternity leaves shall be increased from 12 weeks to 26 weeks ? If yes, please arrange to provide the notification
From India, New Delhi
Acknowledge(0)Amend(0)
From India, New Delhi
Acknowledge(0)Amend(0)
Can a person who have only 9 months service & expired in a accident is eligible for EDLI.
From India
Acknowledge(0)Amend(0)
From India
Acknowledge(0)Amend(0)
EDLI NEW RULE:
The average monthly wages drawn (subject to a maximum of 15000.00) during the 12 months preceding the month in which he died, multiplied by 30 times plus 50% of the average balance in the account of the deceased in the Fund, whichever is less, subject to a ceiling of 1,50,000/-.
Provided that the assurance benefit shall not be less than 2.5 lakh rupees. Provided further that the assurance benefit shall not exceed 06 lakh rupees.
Example:
Employee DOJ: 01/01/2018, DOD: 20/02/2018, PF salary: 10,000/-
EPF Deduction: 10,000 / 26 (working days) x 18 Present Days = 6923.00
PF contribution @12% 831.00 + Employer share towards EPF @3.67% = 254.00 + EPS @8.33% = 577.00, Total EPF Balance = 1085 + Int.
EDLI calculation: 10,000 x 30 = 3 Lacs + 50% of EPF balance i.e. 543.00.
EDLI Benefits would be 3,00,543.00 + Pension to widow and child up to 02 children of age up to 25 years + EPF balance. The said provision shall be in force for the first 02 years from 15/02/2018.
From India, Mumbai
Acknowledge(0)Amend(0)
The average monthly wages drawn (subject to a maximum of 15000.00) during the 12 months preceding the month in which he died, multiplied by 30 times plus 50% of the average balance in the account of the deceased in the Fund, whichever is less, subject to a ceiling of 1,50,000/-.
Provided that the assurance benefit shall not be less than 2.5 lakh rupees. Provided further that the assurance benefit shall not exceed 06 lakh rupees.
Example:
Employee DOJ: 01/01/2018, DOD: 20/02/2018, PF salary: 10,000/-
EPF Deduction: 10,000 / 26 (working days) x 18 Present Days = 6923.00
PF contribution @12% 831.00 + Employer share towards EPF @3.67% = 254.00 + EPS @8.33% = 577.00, Total EPF Balance = 1085 + Int.
EDLI calculation: 10,000 x 30 = 3 Lacs + 50% of EPF balance i.e. 543.00.
EDLI Benefits would be 3,00,543.00 + Pension to widow and child up to 02 children of age up to 25 years + EPF balance. The said provision shall be in force for the first 02 years from 15/02/2018.
From India, Mumbai
Acknowledge(0)Amend(0)
Dear Sir/Madam,
Our employee who joined our organization on 16th October 2017 passed away in a road accident on 16th May 2018.
His gross salary was Rs.14,000 per month, and his basic salary was Rs.5,600 per month. In his last month, his basic salary was Rs.2,377, and EPF deductions amounted to Rs.285.
When we claimed his PF, Pension, and EDLI, PF approved all his claims. However, the EDLI amount to be paid to the claimant is Rs.3,636. We are having difficulty understanding the calculation.
Please advise.
From India,
Acknowledge(0)Amend(0)
Our employee who joined our organization on 16th October 2017 passed away in a road accident on 16th May 2018.
His gross salary was Rs.14,000 per month, and his basic salary was Rs.5,600 per month. In his last month, his basic salary was Rs.2,377, and EPF deductions amounted to Rs.285.
When we claimed his PF, Pension, and EDLI, PF approved all his claims. However, the EDLI amount to be paid to the claimant is Rs.3,636. We are having difficulty understanding the calculation.
Please advise.
From India,
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.