Warning: preg_match(): Compilation failed: nothing to repeat at offset 152 in [path]/showthread.php on line 2297

Warning: preg_match(): Compilation failed: nothing to repeat at offset 152 in [path]/showthread.php on line 2298

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381
Edli Jpg Download - CiteHR

No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


prashant1314
46

Dear Seniors, If the employee died after working hours & death caused not related to employement then can employee’s heir apply for EDLI amount??? Prashant 098504011060
From India, Pune
Awvik
10

Dear Prashant,
First tell me why you have the doubt? Did somebody tell you about it. Please go through the PF Act to clear your doubts. You people need to understand that this is a forum where we are supposed to give solution to people 's problem and not a business study classroom where somebody would give you a full fledged lecture on EDLI. Please do some reading of your own rather then asking questions to forum members. It will help you more - believe me.
Please don't mind
Warm regards

From India, New Delhi
globaloverseas144
46

Dear Prashant,

Yes,EDLI is applicable and concern nominee can apply for this.

EDLI - Employees Deposit linked Insurance (India Death payment Scheme)

What is EDLI?

All employees to whom the Employee's Provident Fund and Miscellaneous Provision Act , 1952 applies, have a Statutory liability to subscribe to Employee's Deposit Linked Insurance Scheme, 1976 to provide for the benefit of Life insurance to all their employees. Under the scheme as amended with effect from 24th June,2000 the insurance benefit is equal to the average balance to the credit of the deceased employee in the Provident Fund during the last 12 months, provided that where such balance exceeds Rs.35,000, insurance cover would be equal to Rs.35,000 plus 25% of the amount in excess of Rs.35,000 subject to a maximum of Rs.60,000. Thus if the lenth of service is not adequate and/ or the salary is low the average balance may be substantially less and such the benefit to the employee's family is either inadequate or non-existent.

The contribution @ 0.50% of each employee's salary is payable by the Employer to the Provident Fund Authorities.

THE BETTER ALTERNATIVE:

However, under Sec. 17(2A) of the act, the employer may be exempted from contributing to this scheme, if he/she has provided for better insurance benefits through alternative scheme. LIC's Group Insurance Scheme in lieu of EDLI has been accepted as one such better alternative.

ADVANTAGES TO THE EMPLOYER :

The premium payable by the employer is usually less than the total contribution being paid by the employer to R.P.F.C; particularly when the salary level is high and average age of the group is low.

Settlement of claim is quicker, LIC requires only the death certificate and the Claim Form from the employer.

Premium paid by the employer is treated as normal business expenses for Income-Tax purpose.

ADVANTAGES TO THE EMPLOYEE:

Each employee is covered for a sum assured ranging between 5,000 to 2,00,000 depending upon the current salary and service put in from day one irrespective of the actual balance in the Provident Fund. Alternatively every employee/ worker can be covered for a uniform sum assured which will be decided depending upon the group size.

ACCIDENT BENEFIT:

Double accident benefit can be allowed to the extent of the Sum Assured for an extra Premium.

STEPS TO INTRODUCE THE SCHEME:

Put up notice for the knowledge of the employees that you are going in for LIC's Scheme in lieu of EDLI.

Apply to the Regional Provident Fund Commissioner under Sec.17 (2A) of the E.P.F. and M.P. Act 1952 to exempt you from EDLI Scheme. The application should be accompanied by the prescribed requirements including the Rules of the Proposed Group Insurance scheme. Central PF Commissioner, has authorized the R.P.F.C. to grant exemption from the 1st of the month in which the application for relaxation is submitted. LIC also offers necessary guidance to the employers for seeking relaxation.

Best Regards,

sajid Ansari-Delhi

From India, Delhi
Attached Files (Download Requires Membership)
File Type: jpg sajid at centre.jpg (39.1 KB, 100 views)

vBala
The applicability of EDLI says that the employee will be covered during his employment. Therefore it does not matter whether the employee died during working hours or not. Regards Bala
From India, Madras
manish_manvi
hi, everyone this is the firs time i sign in and i m looking for some information regarding training and development of hr would u help me plz
From Nepal
shilps_2006
P.F. Contribution from Employee is 12% where as actually from Employer it is 13.61% ,( as 3.67 % in Employer's cont. 8.33% in Pension scheme and remaining 1.61% are towards in following breakup(0.5 % for E.D.L.I. ( Employee Deposit Linked Insurance)+0.01% and 1.10% for admin charges.)
When we cross check calculation of P.f. challan, we can just have25.61% on basic salary to get approx. figure which has to be paid thru. challan.

From India, Pune
amicitehr
could you explain if an employee is having basic sal of 5800, whts the EDLI benefit if he died.......... pls explain Thnks Amita
From India, New Delhi
hrinterarchpn
Dear Prashant,
If an employee who is covered under EPF scheme is liable to get EDLI amount in any cause/condition of death from EPF dept. If exemption is granted to organisation under section-17 2 (A) then EDLI amount has to be claimed from insurance agency not from EPF dept.
Thanking you,
Rajesh Gautam

From India, Gurgaon
Rekha
14

Yes, of course, whosoever is the nominee, he can do it, after following / abiding the terms & conditions.
From India, Delhi
Raj Kumar Hansdah
1425

Thx AWVIK,
for your remarks.
This is what I have been trying to tell all participants.
Plz get your basics right first. This forum will be useful only if we keep it un-cluttered. The focus should be on specific, un-prcedented or un-common situations, or where there is an ambiguity, or where no solutions are offered in HR txtbooks, or where one needs to know the applied aspects or practical solutions/suggestions; or where some sharing of practice is involved; or when you need specific advice to a peculiar issue.
Regards.

From India, Delhi
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.





About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.