EDLI: How to make insurance claim under Employees’ Deposit Linked Insurance Scheme, documents needed

Employees Deposit Linked Insurance Scheme (EDLI) is intended specifically for salaried workers in the private sector offered by the EPFO..

Further Para 22(3) of EDLI Scheme states" On the death of an employee, who is a member of the Fund or of provident fund exempted under Section 17 of the Act, as the case may be, who was in employment for a continuous period of twelve months, preceding the month in which he died, the persons entitled to receive the provident fund accumulations of the deceased shall in addition to such accumulations to be paid an amount equal to:-..

[(I) the average monthly wages drawn (subject to a maximum of fifteen thousand rupees), during the twelve months preceding the month in which he died, multiplied by thirty five times plus fifty percent of the average balance in the account of the deceased in the fund or of a provident fund exempted under Section 17 of the Act or under Paragraph 27 or 27A of the Employees' Provident Funds Scheme, 1952, as the case may be, during the preceding twelve months or during the period of his membership, whichever is less subject to a ceiling of one lakh and seventy five thousand rupees;..

It is to be noted that when the member dies after leaving employment he/she ceases to be an "employee" as defined in Section 2(f) read in conjunction with Section 6C (1) of the Act in an establishment covered under the Act the condition for release of EDLI benefits ceases to be in operation and the benefits would not be admissible.. 5 key features of the EDLI schemeA maximum assured benefit of Rs 7 lakh would be paid to the nominee or legal successor of an EPF member who dies while in service.The.

minimum guarantee benefit under the EDLI scheme 1976 is Rs 2.5 lakh if the deceased member remained in continuous employment for 12 months prior to his or her death.This life insurance benefit provided to EPFO members is provided at no cost to PF/EPF account holders..

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