Sir i am 34 yrs old, My husband died on 26th july 2018 His employer processed for his pf settlement I want to know the calculation formula of EDLI and Pf amount. Pls help
From India, Mumbai
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From India, Mumbai
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Dear Anonymous,
For the calculation of EDLI amount, the average wages (Max. ₹15,000) of the last 12 months should be multiplied by 30, and then add 50% of the average balance in the PF account (Max ₹150,000).
For example, 15,000 X 30 = ₹450,000 + ₹150,000, resulting in a total amount of ₹600,000. The minimum EDLI amount is ₹250,000, and the maximum is ₹600,000.
Thank you.
From India
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2For the calculation of EDLI amount, the average wages (Max. ₹15,000) of the last 12 months should be multiplied by 30, and then add 50% of the average balance in the PF account (Max ₹150,000).
For example, 15,000 X 30 = ₹450,000 + ₹150,000, resulting in a total amount of ₹600,000. The minimum EDLI amount is ₹250,000, and the maximum is ₹600,000.
Thank you.
From India
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Salary Sheet & PF PT Calculation & Challan Nov 2010.xls