One of my employee has completed one year in organization but he has died in an Train accident on 9th July 2017. he is covered under the ESIC & PF Scheme.
My query is will his nominee get benefit of EDIL scheme as per the Act???????.
suggestions needed
From India, Mumbai
3My query is will his nominee get benefit of EDIL scheme as per the Act???????.
suggestions needed
From India, Mumbai
yes. his legal heir will get benefits under EDLI Scheme for EPF Office. These benefits are revised to 4.50 lakhs recently.(which is based on his age and salary )
From India, New Delhi
From India, New Delhi
Maximum amount payable under EDLI is Rs 6 lakhs. This has no relevance to age of the deceased but it is calculated as follows.
Average monthly salary (subject to a maximum of Rs 15000) multiplied by 30, say a maximum of Rs 450000
Add: 50% of average balance in the PF subject to a maximum of Rs 150000.
Madhu.T.K
From India, Kannur
Average monthly salary (subject to a maximum of Rs 15000) multiplied by 30, say a maximum of Rs 450000
Add: 50% of average balance in the PF subject to a maximum of Rs 150000.
Madhu.T.K
From India, Kannur
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Employee Benefit policies guide.pdf