Could somebody help me that EDLI goes to a/c no 21, does it calculate on 6500 or actual basic?
From India, Lucknow
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11From India, Lucknow
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Dear Rana,
The Employee Deposit Linked Insurance (EDLI) goes to Account Number 21 and is calculated based on the basic salary. If the amount is less than Rs. 6,500/-, then it will be based on the actual amount. If the basic salary exceeds Rs. 6,500/-, then it will be calculated based on Rs. 6,500/- only.
From India, Gurgaon
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The Employee Deposit Linked Insurance (EDLI) goes to Account Number 21 and is calculated based on the basic salary. If the amount is less than Rs. 6,500/-, then it will be based on the actual amount. If the basic salary exceeds Rs. 6,500/-, then it will be calculated based on Rs. 6,500/- only.
From India, Gurgaon
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Dear Mr.Rana, EDLI contribution is 0.5% of (basic+da+food concession) and limit to maximum of Rs32.50. Hope this help you Regard’s Shaikh
From India, Bhubaneswar
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From India, Bhubaneswar
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The purpose of the scheme is to provide life insurance benefits to employees who are already covered under PF/FPF. The employer has to pay a contribution equal to 0.50% of the total wages of employees, in addition to administrative charges of 0.01% of total wages. [Notification no. AO 503(E) dated 28th July 1976 issued u/s 6C (2) of PF Act].
The employee does not contribute any amount to the scheme. The salary limit for coverage of employees is the same as that of the Provident Fund.
Exemption from the scheme can be obtained from RPFC if the LIC Group Gratuity scheme is adopted by the employer. If an exemption is granted, only inspection charges @ 0.005% are payable to PF authorities.
Courtesy: citeHR
From India, Kochi
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Dear Mr. Santosh,
The required documents are attached. Please fill out the forms according to the contract and instruct them to be deposited at the Regional EPF office. The contractor will receive the code.
I hope this information is helpful.
Regards,
Shaikh
From India, Bhubaneswar
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The required documents are attached. Please fill out the forms according to the contract and instruct them to be deposited at the Regional EPF office. The contractor will receive the code.
I hope this information is helpful.
Regards,
Shaikh
From India, Bhubaneswar
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EDLI CALCULATION.xls x