2. EFFECTIVE DATE : 01.08.1976 APPLICABLE TO : Employees of all establishments contributing to Employees’ Provident Fund EMPLOYEES DEPOSIT LINKED INSURANCE SCHEME

3. pInsurance Amount payable is equivalent to the last 12 months average balance in the Provident Fund Account pWhere such balance exceeds Rs.35,000/-, the Insurance amount payable will be Rs.35,000/- Plus 25% of the balance in excess of Rs. 35,000/- subject to maximum of Rs.60,000/- EDLI BENEFITS ARE E D L I SCHEME

4. CONTRIBUTION UNDER EDLI IS: 50 Paise per Rs. 100 wages under Challan No. 21 and 1 paisa per Rs. 100 wages under Challan No. 22 WHO PAYS WHO PAYS  EMPLOYER ONLY E D L I SCHEME

5. PROVISION FOR EXEMPTION UNDER SECTION 17(2A) OF E.P.F. AND M.P. ACT, 1952 EXEMPTION E D L I SCHEME

6. TWO TYPES Uniform Cover of Rs. 62,000/- to each employee Uniform Cover of Rs. 62,000/- to each employee Graded cover varying between Rs. 5,000/- and Rs.62,000/- depending on employee’s salary and serviceGraded cover varying between Rs. 5,000/- and Rs.62,000/- depending on employee’s salary and service. DOUBLE ACCIDENT BENEFIT MAY BE INCLUDED E D L I SCHEME

7.  PREMIUM PAID BY EMPLOYER  PREMIUM RATES ARE BASED ON THE AGE DISTRIBUTION OF THE MEMBERS E D L I SCHEME

8.  Higher Insurance Cover  Special premium rates which are lower than the usual premium rates. Cost under LIC’s Scheme may be low  Claim settlement by LIC is quick and procedures are simple E D L I SCHEME

9.  Under EDLI Scheme is likely to increase due to increase in wage bill  Under LIC’s Scheme, it may remain usually unchanged (If average age of employees remains around the same) E D L I SCHEME FUTURE COST

10. LIC’s Scheme is approved by C P F C However, Employer has to apply to the Central Provident Fund Commissioner through the Regional Provident Fund office for relaxation from EDLI Scheme Employer will be required to deposit with R P F C only 1/2 paise per Rs. 100/- monthly wage bill towards inspection charges E D L I SCHEME PROCEDURE FOR INSTALLATION OF LIC’s SCHEME