Employees Deposit Linked Insurance (EDLI)
This scheme provides a lump sum payment to the employee’s nominee / beneficiary in the event of his/her death due to natural causes, illness, or accident. Buy this policy to provide your employees’ families with income security in the event of unfortunate death of the employee.
The scheme is applicable to all the organisation which are part of the EPF. The term and condition of this scheme is set by the employees provident fund organisation.
Contribution to Employee Deposit Linked Insurance Scheme :-
- The employee does not contribute to this scheme directly. Rather, the contribution to this scheme is done by the employers.
- The contribution to EDLI is also clubbed with the EPF contribution. The contribution to these three schemes is done according to a formula. The fixed percentage of salary plus DA is routed for this scheme.
