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
From India, Mumbai
In case of death of an EPF member , the following forms are required to be submitted by the nominee / claimant with sub / Regional PF Commissioner Office.
1.Form No.20 ( For Claiming EPF Contributions)
2.Form No.10-D ( For claiming benefits under 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 employer.
6.Proof of date of birth of claimant for pension benefits.
7.Photographs of minors ( Max Two Minors) along with their birth certificates duly attested by employer.
8.Form 5/10 duly signed by employer.
9. Letter by employer declaring claimant as legal heir , if no nomination by member has already been made.
10.Form No.3A current years contribution by employee and employer.
In case of death ( Married Person) : Widow will get the entire contribution made by employee towards the EPF along with the employer's share of contribution with interest till the date of settlement.
She will also be entitled to EDLI ( Employees deposit Linked insurance ) benefits. This will be in shape of a lumpsum amount.
She will be entitled to pension throughout life, to be calculated on the basis of last drawn salary by member.
Two children will also be entitled to Children pension under the Pension Scheme,1995.
In case of Unmarried person : Nominee ( father , Mother , Brother , Sister) will get the contributions paid by the EPF member.
Father / mother will get pension benefits under the Pension Scheme, if they are dependent on the member.
Regards
Ramakant
From India, Pune
701.Form No.20 ( For Claiming EPF Contributions)
2.Form No.10-D ( For claiming benefits under 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 employer.
6.Proof of date of birth of claimant for pension benefits.
7.Photographs of minors ( Max Two Minors) along with their birth certificates duly attested by employer.
8.Form 5/10 duly signed by employer.
9. Letter by employer declaring claimant as legal heir , if no nomination by member has already been made.
10.Form No.3A current years contribution by employee and employer.
In case of death ( Married Person) : Widow will get the entire contribution made by employee towards the EPF along with the employer's share of contribution with interest till the date of settlement.
She will also be entitled to EDLI ( Employees deposit Linked insurance ) benefits. This will be in shape of a lumpsum amount.
She will be entitled to pension throughout life, to be calculated on the basis of last drawn salary by member.
Two children will also be entitled to Children pension under the Pension Scheme,1995.
In case of Unmarried person : Nominee ( father , Mother , Brother , Sister) will get the contributions paid by the EPF member.
Father / mother will get pension benefits under the Pension Scheme, if they are dependent on the member.
Regards
Ramakant
From India, Pune
Thanks for reply. But I want to know If an employee 18 year service period with age of 51 year and died . How Much E.D.L.I. Amount his nominee will get ? And What is The Formula of E.D.L.I calculation.? Because our company decided to give the E.D.L.I amount extra to the nominee apart from EPF / EPS benifit.
Thanks in advance.
From India, Mumbai
Thanks in advance.
From India, Mumbai
Dear Mr.Rajesh Waghmare
EDLI is the abbreviation of Employees' Deposit Linked Insurance Scheme. Here deposit means average deposit in EPF. When an employee dies while in service, family will get some compensation based on his/her deposit. To get the claim, the employer has to pay 0.5% as its premium.
1. Determination of Deposit.
Average of deposit of last twelve months as well as total service, will be calculated and whichever is less being taken for the calculation.
2. Determination of Compensation.
Upto Rs. 50,000/- he will get actual. Beyond first 50,000/- he will get 40% of the rest; subject to ceiling of Rs. 100,000/-.
Eg. a) Deposit Rs. 100,000
For 1st 50000 - 50000, Next 50000 - 20000
Total - Rs. 70,000 (will get full amount as it is not more than 100,000).
Eg. b) Deposit Rs. 200,000
For 1st 50000 - 50000, Next 150,000 - 60000
Total - Rs. 110000 (will get Rs.100,000 only as it ecxeeds 100,000).
Eg. c) Deposit Rs. 300,000
For 1st 50000 - 50000, Next 250,000 - 100,000
Total - Rs. 150,000 (will get Rs. 100,000 only as it exeeds 100,000/-)
But there is better Insurance schemes with the same premium, even without cosidering the deposits. With this type of better benefits, some of the organisations are exempted from EDLI. Instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Ramakant
From India, Pune
EDLI is the abbreviation of Employees' Deposit Linked Insurance Scheme. Here deposit means average deposit in EPF. When an employee dies while in service, family will get some compensation based on his/her deposit. To get the claim, the employer has to pay 0.5% as its premium.
1. Determination of Deposit.
Average of deposit of last twelve months as well as total service, will be calculated and whichever is less being taken for the calculation.
2. Determination of Compensation.
Upto Rs. 50,000/- he will get actual. Beyond first 50,000/- he will get 40% of the rest; subject to ceiling of Rs. 100,000/-.
Eg. a) Deposit Rs. 100,000
For 1st 50000 - 50000, Next 50000 - 20000
Total - Rs. 70,000 (will get full amount as it is not more than 100,000).
Eg. b) Deposit Rs. 200,000
For 1st 50000 - 50000, Next 150,000 - 60000
Total - Rs. 110000 (will get Rs.100,000 only as it ecxeeds 100,000).
Eg. c) Deposit Rs. 300,000
For 1st 50000 - 50000, Next 250,000 - 100,000
Total - Rs. 150,000 (will get Rs. 100,000 only as it exeeds 100,000/-)
But there is better Insurance schemes with the same premium, even without cosidering the deposits. With this type of better benefits, some of the organisations are exempted from EDLI. Instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Ramakant
From India, Pune
Dear Waghamare Rajesh,
The provision quoted by Ramakant is amended on 8th January 2011. Even though the above quoted details will be considered, a minimum of 20 times of salary subject to a ceiling of Rs. 130,000 will be paid towards EDLI.
Abbas.P.S
From India, Bangalore
The provision quoted by Ramakant is amended on 8th January 2011. Even though the above quoted details will be considered, a minimum of 20 times of salary subject to a ceiling of Rs. 130,000 will be paid towards EDLI.
Abbas.P.S
From India, Bangalore
Dear Mr.Ramakant,
You have instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Could you please give details other schemes you have in mind.
S.Balasubramanian
From India, Mumbai
You have instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Could you please give details other schemes you have in mind.
S.Balasubramanian
From India, Mumbai
Dear Mr.Ramakant,
You have stated that there are other schemes in lieu of EDLI, which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Could you please give details other schemes you have in mind.
S.Balasubramanian
From India, Mumbai
You have stated that there are other schemes in lieu of EDLI, which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Could you please give details other schemes you have in mind.
S.Balasubramanian
From India, Mumbai
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