EDLI Scheme Benefits & Eligibility Criteria | EDLI Scheme 2022 Benefits, Eligibility, Documents Required and Application Process | EDLI Scheme Form Download and Calculation | At present, EPFO (Management Employees Provident Fund Organisation) is running many schemes to benefit its employees/members. Today we are going to tell you about what is being operated by EPFO. Employee Deposit Relations Insurance Scheme (EDLI Yojana) We are going to tell about which is being operated since 1976. Under this scheme, insurance is provided to the employees associated with the Employees’ Provident Fund Organization, this insurance is provided to financially secure the future of their family members in case of their accidental death. if you EDLI Scheme 2022 If you don’t know anything about it then you are reading the right article. Because by reading this article of ours, you EDLI Scheme You will get to know about all the important things related to.
EDLI Plan 2022 what Is?
The full form of EDLI is Employee Deposit Linked Insurance Scheme. Employee Deposit Relations Insurance Scheme Also called. This is an insurance scheme operated by the Management Employees Provident Fund Organization for its employees/members. Under this scheme, in case of accidental death of the employee while in service, his family members or legal heirs are provided 35 times the monthly salary of the employee for 12 months, subject to a maximum of Rs 7 lakh. This insurance is provided to the family members and legal heirs if the employee has worked in more than one establishment within 12 months before the death. EDLI Scheme 2022 Under this, a minimum contribution is made by the employer at the rate of 0.5% of the monthly salary of the employee. The employee is not required to make any contribution.
Sukanya Samriddhi Yojana (SSY) complete information in Hindi
Key Hghlights Of EDLI Scheme 2022
| scheme name | Employees Deposit Relations Insurance Scheme (EDLI Yojana) |
| initiated | In 1976 by the Government of India |
| beneficiary | Employees/Members of Provident Fund Organization |
| purpose | Providing insurance to the family members of the employees in case of death while in service |
| Sum Assured Calculation | 35 times the monthly salary received in the 12 months before death |
| Maximum Sum Assured | 7 lakh rupees |
| Sum Assured Claim Process | offline |
| year | 2022 |
EDLI Scheme 2022 Of under Insurance Zodiac of calculation
Under this scheme, the sum assured provided to the family members / nominee is 35 times the monthly salary of the active employee in 12 months. EDLI Scheme 2022 Under this, a bonus of ₹ 175000 is also provided. The calculation of the sum insured is as follows.
- Maximum average monthly salary of employee = Rs 15000
- 35 times salary (15000×35)= Rs.525000
- Bonus amount = Rs.175000
- Total Sum Assured 525000×175000=Rs 700000
Prime Minister Shram Yogi Maandhan Yojana
EDLI Scheme 2022 of purpose
Employee deposit linked insurance scheme The main objective of starting this scheme is to provide insurance amount in the form of financial assistance to the family members of the active employees covered under EPFO in case of accidental death. So that the affected family members can live their life well and they do not have to face any kind of financial difficulty. EDLI Scheme 2022 Under this, the sum assured is 35 times the monthly salary for the 12 months before the death of the employee. To get this sum assured, the family members have to fill EDLI Form 5 IF. This insurance scheme proves to be very beneficial for the active employees and their families coming under the EPFO of the country. Because through this, after the death of the employee, his family members do not have to face financial crisis.
EDLI Form 5 IF
After the death of the employee, the family members or legal heirs have to fill the offline EDLI Form 5 IF to claim the sum insured. Each person claiming this form has to fill it separately. If the nominee is a minor then the guardian will fill the form. If there is more than one minor nominee in a family, then in this case the parents will have to fill only one form.
- After entering all the information asked in EDLI Form 5 IF, the required documents are to be attached to the form and submitted to the office of the Regional EPF Commissioner.
- Insurance claim is settled within 30 days. If for any reason the EPF commissioner does not settle the claim within 30 days, then he has to pay an interest of 12% per annum till the date of claim status.
E-Nomination Of Facility Of Went Ongoing
Now the Management Employees Provident Fund Fund (EPFO) has released the facility of e-nomination to give information about the nomination. Those who are not enrolled in it are being given the opportunity. Then the information like name of the nominee, date of birth can be updated online.
EDLI Scheme 2022 Of Properties
- In 1976 under the EPFO by the Government of India Staff Deposit Relation Insurance Scheme (EDLI) was initiated.
- EPFO members themselves EDLI Scheme are linked under.
- Under this scheme, insurance facility is provided to the active employees/members of Employees’ Provident Fund Organization.
- This insurance facility is provided to the family members/legal heirs of the employee after his death.
- EDLI Scheme 2022 Under this, the sum assured is 35 times the monthly salary received in the 12 months preceding the death of the employee.
- Apart from this, a bonus of Rs 175000 is also provided.
- Under this scheme, a total amount up to a maximum of ₹ 700000 is provided in the form of insurance.
- Under the Employees’ Deposit Relations Insurance Scheme, the minimum contribution is made by the employer at the rate of 0.5% of the monthly salary of the employee. No amount is deducted from the salary of the employee.
- The company can opt out of Employer Deposit Linked Insurance if the company avails the facility of Best Payment Life Insurance Plan for Employees under Section 17(2A).
Insurance claim to do Of For Qualification terms
- The member of the claiming family should be a nominee under EPF.
- In case of non-nominee, all family members (except principal sons and married daughters and married grandchildren)
- If a nominee/family member/legal heir is a minor then his/her guardian
Necessary Document
The following documents are required to be submitted while filling the EDLI Form 5 IF for making an insurance claim.
- death certificate of employee
- Guardianship certificate if the claimant is a minor
- Succession certificate (claimed by legal heir)
- bank canceled check
Note- If the employee used to work in a company exempted under the EPF scheme 1952 in the last days. In this case, the employer of such company will have to provide the PF details of the last 12 months and a verified copy of the nomination form as proof.
EDLI Scheme 2022 Of under Insurance claim to do Of For application How do?
- EDLI Form 5 IF is to be obtained to apply for insurance claim under Employees Deposit Relations Insurance Scheme 2022.
- After this, all the important information asked in the form has to be entered.
- Now you have to submit this form to that company or institution. Where the employee was working in his last days.
- EDLI Form 5 IF will be verified by the companies/institutions.
- If the company considers you an eligible person, then you will be provided the benefit of this scheme.
- If there is no registered company then you can get the form verified by any one of the following.
- gazetted officer
- magistrate
- gram panchayat president
- Postmaster/Sub Postmaster
- MP/MLA
- Member of Regional Committee of CBT EPS
- Chairman and secretary and member of municipality or district local board
- The manager of the bank in which the employee’s account was maintained.
