What is Employee Deposit Linked Insurance (EDLI) Scheme?
What is EDLI Scheme? What are the EDLI Scheme Benefits? What is EDLI contribution in PF? I recently came to know about this EDLI Scheme that it is related to your PF account. Can you please explain me in detail.
What is the contributions made by employee to this EDLI scheme? Does this is paid from the 12% contribution made for EPF account?
Hi Jaya, this is an answer for your question. Hope below details will clear all your doubts. Do share us your feedback, if this information was useful to you!
Contributions to the EDLI scheme:
While the employee enjoys the benefits of coverage in EDLI (Employees Deposit Linked Insurance) scheme, a person does not contribute to that it directly. Contributions are built by just their employer.
1. Contributions have always been complete according to formula of the fixed percentage of DA and income.
2. EPF / Employee’s Provident Fund contribution through employer: 12% minus EPS share.
3. EPS / Employee’s Pension Scheme contribution with employer: 8.33% (subject to your maximum concerning Rs.1,250).
4. EPF / Employee’s Provident Fund share simply by employee: 12%.
5. EPS / Employee’s Pension Scheme participation simply by employee: none.
6. EDLI / Employees Deposit Linked Insurance Scheme contribution through employee: none.
7. EDLI / Employees Deposit Linked Insurance Scheme contribution with employer: 0.55% (subject to the maximum concerning Rs.75)