EDLI (Employees’ Deposit Linked Insurance Scheme) Admin Charges are payable by the employer to the Govt. for the administration of EDLI. EDLI scheme is eligible for all the organizations registered under EPF and Miscellaneous Provisions Act, 1952. EDLI admin charges are waived from 1st April 2017.
EDLI meaning– Employee Deposit Linked Insurance, which is a scheme offered by the Employees’ Provident Fund Organization (EPFO) to provide life insurance coverage to private sector salaried employees who are members of the Employees’ Provident Fund (EPF). The EPFO is a statutory body under the Ministry of Labour and Employment, Government of India, responsible for administering and regulating the EPF scheme, which is a retirement benefit scheme for employees in India.
The EDLI scheme is mandatory for all private sector employees who are members of the EPF scheme, and the premium for the insurance coverage is paid by the employer on behalf of the employee. The EDLI scheme provides financial security to the family members of the employee in case of the employee’s untimely demise while in service.
Solving Real Business Challenges with a Robust & Impeccable System