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Due minimum benefit to be paid from EDLI Fund to the eligible family members – Gazette Notification No. GSR 299 E dated 24/8/2021 in EDLI Scheme
Contents News/Article Date: 2nd January 2023
Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952
Type: EPFO Head Office, Ministry of Employment & Labour, Government of India, Circular No. E File No. 52780 issued by Regional PF Commissioner I – Pension & EDLI
Pertains to Establishments covered by PF and employee members
Relevance of this news: As we all know that under the Provident Fund and Employee State Insurance Corporation Act, it is mandatory to provide some contributory and health care benefits to employees for which there is some percentage contribution on the part of the employer towards each and every employee who is eligible for this purpose in the immediate and long-run while in tenure of service. These are also known as social security benefits that are governed and managed by Government bodies as per rules and regulations laid down and understood by all employers applicable by these Acts.
Karma Global does a lot of work on PF & ESI and especially under the PF act, there are a lot of chapters and sections, and sub-sections against which obligations are required to be fulfilled by employers and employees. Karma Global takes care of all the obligations for the establishments as well as members of the Fund.
In this instance, it is related to EDLI – that is assurance benefits payable to a member on the death of the member. It has been notified to all the Officers that a minimum assurance benefit of Rs.2.5 lakhs has to be paid to the beneficiaries where the deceased member may have died but was less than Rs.2.5 lakhs and to identify all such EDLI claims settled and where the minimum may not have been paid.
Subject: Due minimum benefit to be paid from EDLI Fund to the eligible family members – Gazette Notification No. GSR 299 E dated 24/8/2021 in EDLI Scheme
For greater details, attached is the notification