One of our employee service details is as under: DOJ 01-04-15 Date of Death 23-08-2017. His Basic Salary was 9570/- What is his EDLI amount and Monthly Pension. Kindly update us.
From India, Delhi
1From India, Delhi
in case of death undercontinuation of duty span (i.e employee was not on leave or suspension, and was contributory to EPS/EDLI)
Bonus 1.5 lakh minimum + upto 30 month Basic +DA salary (depending on the service period)
as the service span is too short for pension so minimum pension of would apply
Bonus 1.5 lakh minimum + upto 30 month Basic +DA salary (depending on the service period)
as the service span is too short for pension so minimum pension of would apply
Dear Member,
Under EDLI immediate benefits two calculations done. I) On basis of last PF (EDLI) Wages and II) Average PF balance for last twelve months.
I would like to correct Mr U S Sharma, the Bonus of Rs. 1.50 L is maximum limit. The actual formula is “50% of the average balance in the Fund during preceding twelve month subject to a ceiling of Rs. One Lakh and Fifty Thousand”. Similarly in other case the formula is “average twelve months wages (maximum 15K), multiplied by thirty times (Rs. 4.50 L maximum)” The total benefit ceiling is Rs. Six Lakh (1.5+4.5).
However, in any case the “The total EDLI benefits shall not be less than Rs. Two Lakh and Fifty Thousand”.
As per my opinion in case of death the pension is calculated on basis of Last twelve month’s Pension Wages (maximum 15K) and remaining service of the member. Pension will be calculated assuming service period upto the retirement age.
There is another factor NCP (Non Contributory Period) which may affect the pension.
If you share DOB as well, I can give you more idea about the expected pension.
However, I would like Mr Abbasiti and other seniors to to join us and throw more light on the matter.
From India, Delhi
Under EDLI immediate benefits two calculations done. I) On basis of last PF (EDLI) Wages and II) Average PF balance for last twelve months.
I would like to correct Mr U S Sharma, the Bonus of Rs. 1.50 L is maximum limit. The actual formula is “50% of the average balance in the Fund during preceding twelve month subject to a ceiling of Rs. One Lakh and Fifty Thousand”. Similarly in other case the formula is “average twelve months wages (maximum 15K), multiplied by thirty times (Rs. 4.50 L maximum)” The total benefit ceiling is Rs. Six Lakh (1.5+4.5).
However, in any case the “The total EDLI benefits shall not be less than Rs. Two Lakh and Fifty Thousand”.
As per my opinion in case of death the pension is calculated on basis of Last twelve month’s Pension Wages (maximum 15K) and remaining service of the member. Pension will be calculated assuming service period upto the retirement age.
There is another factor NCP (Non Contributory Period) which may affect the pension.
If you share DOB as well, I can give you more idea about the expected pension.
However, I would like Mr Abbasiti and other seniors to to join us and throw more light on the matter.
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.
Calculate Your Age.xls
EPF,EPS,EDLI.pp t