Can the contribution of EDLI i.e. 0.5% be deposited in a private or government bank?
From India, Kanpur
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6From India, Kanpur
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@Aditya EDLI contribution is auto calculated by portal on uploading of ECR, and that challan generated through that ECR is payable at all scheduled banks listed on portal
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No, EDLI is Employees' Deposit Linked Insurance, which means it is linked with the contribution paid in EPF by the employer. This cannot be paid separately. Also, it is an auto-calculated amount.
EDLI also provides far better benefits. Please refer to the EDLI guidelines on the EPF portal.
From India, Vadodara
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EDLI also provides far better benefits. Please refer to the EDLI guidelines on the EPF portal.
From India, Vadodara
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Sir, I have been paying the EDLI in SBI as they have provided this facility since 2012 through the Approval of Group Term Insurance Plan "Sampoorn Suraksha" issued by MIs 581 Life Insurance Company Limited in lieu of the Employees' Deposit-Linked Insurance Scheme, 1976. I have the letter confirming that SBI can deposit EDLI, allowing us to pay the full amount there and reduce it to 0 on the EPFO challan.
From India, Kanpur
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From India, Kanpur
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ESI contribution rates lowering.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx