Please let me know the E.D.L.I Amount of person whose death occurred after 18 Year service aged 51 year
From India, Mumbai
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From India, Mumbai
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In case of the death of an EPF member, the following forms are required to be submitted by the nominee/claimant with the Sub/Regional PF Commissioner's Office:
1. Form No. 20 (For Claiming EPF Contributions)
2. Form No. 10-D (For claiming benefits under the Pension Scheme, 1995)
3. Form 5 IF (For Claiming EDLI benefits under the EDLI Scheme)
4. Death Certificate issued by Panchayat/Registrar in original.
5. Photographs of Claimant(s) duly attested by the employer.
6. Proof of date of birth of the claimant for pension benefits.
7. Photographs of minors (Max. Two Minors) along with their birth certificates duly attested by the employer.
8. Form 5/10 duly signed by the employer.
9. Letter by the employer declaring the claimant as the legal heir if no nomination by the member has already been made.
10. Form No. 3A current year's contribution by employee and employer.
In case of the death (Married Person): The widow will receive the entire contribution made by the employee towards the EPF along with the employer's share of contribution with interest until the date of settlement.
She will also be entitled to EDLI (Employees' Deposit Linked Insurance) benefits in the form of a lump sum.
She will receive a pension throughout her life, calculated based on the last drawn salary by the member.
Two children will also be entitled to Children's pension under the Pension Scheme, 1995.
In the case of an Unmarried person: The nominee (father, mother, brother, sister) will receive the contributions paid by the EPF member.
Father/mother will receive pension benefits under the Pension Scheme if they are dependent on the member.
Regards,
Ramakant
From India, Pune
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731. Form No. 20 (For Claiming EPF Contributions)
2. Form No. 10-D (For claiming benefits under the Pension Scheme, 1995)
3. Form 5 IF (For Claiming EDLI benefits under the EDLI Scheme)
4. Death Certificate issued by Panchayat/Registrar in original.
5. Photographs of Claimant(s) duly attested by the employer.
6. Proof of date of birth of the claimant for pension benefits.
7. Photographs of minors (Max. Two Minors) along with their birth certificates duly attested by the employer.
8. Form 5/10 duly signed by the employer.
9. Letter by the employer declaring the claimant as the legal heir if no nomination by the member has already been made.
10. Form No. 3A current year's contribution by employee and employer.
In case of the death (Married Person): The widow will receive the entire contribution made by the employee towards the EPF along with the employer's share of contribution with interest until the date of settlement.
She will also be entitled to EDLI (Employees' Deposit Linked Insurance) benefits in the form of a lump sum.
She will receive a pension throughout her life, calculated based on the last drawn salary by the member.
Two children will also be entitled to Children's pension under the Pension Scheme, 1995.
In the case of an Unmarried person: The nominee (father, mother, brother, sister) will receive the contributions paid by the EPF member.
Father/mother will receive pension benefits under the Pension Scheme if they are dependent on the member.
Regards,
Ramakant
From India, Pune
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Thank you for your response. I would like to inquire about the amount an employee's nominee would receive under the EDLI scheme if the employee had completed 18 years of service, was 51 years old at the time of passing, and died. Could you please provide me with the calculation formula for EDLI? Our company has decided to offer an additional amount under EDLI to the nominee, in addition to the EPF/EPS benefits.
Thank you in advance.
From India, Mumbai
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Thank you in advance.
From India, Mumbai
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Dear Mr. Rajesh Waghmare,
EDLI is the abbreviation of the 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 file a claim, the employer must pay 0.5% as the premium.
1. Determination of Deposit:
The average deposit of the last twelve months as well as total service will be calculated, and the lesser of the two will be taken for the calculation.
2. Determination of Compensation:
Up to Rs. 50,000, the family will receive the actual amount. Beyond the first Rs. 50,000, they will receive 40% of the remaining amount, subject to a ceiling of Rs. 100,000.
Example a) Deposit Rs. 100,000:
- For the first Rs. 50,000 - Rs. 50,000
- For the next Rs. 50,000 - Rs. 20,000
Total - Rs. 70,000 (will receive the full amount as it does not exceed Rs. 100,000).
Example b) Deposit Rs. 200,000:
- For the first Rs. 50,000 - Rs. 50,000
- For the next Rs. 150,000 - Rs. 60,000
Total - Rs. 110,000 (will receive Rs. 100,000 only as it exceeds Rs. 100,000).
Example c) Deposit Rs. 300,000:
- For the first Rs. 50,000 - Rs. 50,000
- For the 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. There are schemes that specify amounts exceeding Rs. 100,000 for natural death and offer double benefits for accidental death.
Ramakant
From India, Pune
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EDLI is the abbreviation of the 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 file a claim, the employer must pay 0.5% as the premium.
1. Determination of Deposit:
The average deposit of the last twelve months as well as total service will be calculated, and the lesser of the two will be taken for the calculation.
2. Determination of Compensation:
Up to Rs. 50,000, the family will receive the actual amount. Beyond the first Rs. 50,000, they will receive 40% of the remaining amount, subject to a ceiling of Rs. 100,000.
Example a) Deposit Rs. 100,000:
- For the first Rs. 50,000 - Rs. 50,000
- For the next Rs. 50,000 - Rs. 20,000
Total - Rs. 70,000 (will receive the full amount as it does not exceed Rs. 100,000).
Example b) Deposit Rs. 200,000:
- For the first Rs. 50,000 - Rs. 50,000
- For the next Rs. 150,000 - Rs. 60,000
Total - Rs. 110,000 (will receive Rs. 100,000 only as it exceeds Rs. 100,000).
Example c) Deposit Rs. 300,000:
- For the first Rs. 50,000 - Rs. 50,000
- For the 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. There are schemes that specify amounts exceeding Rs. 100,000 for natural death and offer double benefits for accidental death.
Ramakant
From India, Pune
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Dear Waghamare Rajesh,
The provision quoted by Ramakant was amended on 8th January 2011. Even though the above-quoted details will be considered, a minimum of 20 times the salary subject to a ceiling of Rs. 130,000 will be paid towards EDLI.
Abbas.P.S
From India, Bangalore
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The provision quoted by Ramakant was amended on 8th January 2011. Even though the above-quoted details will be considered, a minimum of 20 times the salary subject to a ceiling of Rs. 130,000 will be paid towards EDLI.
Abbas.P.S
From India, Bangalore
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Dear Mr. Ramakant,
You have mentioned that they are providing in lieu of EDLI. There are schemes which specify more than ₹100,000 for natural death and double benefits for accidental death.
Could you please provide details of other schemes you have in mind?
S. Balasubramanian
From India, Mumbai
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You have mentioned that they are providing in lieu of EDLI. There are schemes which specify more than ₹100,000 for natural death and double benefits for accidental death.
Could you please provide details of other schemes you have in mind?
S. Balasubramanian
From India, Mumbai
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Dear Mr. Ramakant,
You have stated that there are other schemes in lieu of EDLI, which specify more than ₹100,000 for natural death and double benefits for accidental death. Could you please provide details of other schemes you have in mind?
S. Balasubramanian
From India, Mumbai
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You have stated that there are other schemes in lieu of EDLI, which specify more than ₹100,000 for natural death and double benefits for accidental death. Could you please provide details of other schemes you have in mind?
S. Balasubramanian
From India, Mumbai
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