WEB CIRCULATION

Employees’ Provident Fund Organization
Ministry of Labour & Employment, Government of India
Bhavishya Nidhi Bhawan
Bhikaiji Cama Place, New Delhi 110066
www.epfindia.gov.in

No. EDLI/Actuarial/18 (3)/2014/26694

Date: 21 FEB 2018

To

All ACCs (Zones)

All RPFC (In-Charge of the Region)

Sub:  Employees’ Deposit Linked Insurance (Amendment) Scheme 2018. The Gazette notification G.S.R. No. 170 (E) on assurance benefits shall not be less than two lakhs and fifty thousand rupees under para 22 (3) of EDLI Scheme, 1976 dated 15-02-2018- Reg.

Sir,

The Gazette Notification issued by the Govt. of India referred above has brought important amendments whereby the assurance benefits shall not be less than two lakhs and fifty thousand rupees and further that the assurance benefit shall not exceed six lakhs under para 22 (3)of EDLI Scheme,1976.

2. In order to ensure uniformity in the application of the Amendments, all offices may note the following:-

“(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 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 fifty thousand rupees:

Provided that the assurance benefit shall not be less than two lakh and fifty thousand rupees:

Provided further that the assurance benefit shall not exceed six lakh rupees:

3. The provisions of the first proviso of clause (i) of sub-paragraph (3) of paragraph 22 shall be in force for a period of two years from the date of publication of this Scheme in the Official Gazette”.

The copy of the gazette notification G.S,R.170 (E) dated 15.02.2018 is enclosed for necessary action.

Yours faithfully,

(R. M. Verma)

Addl. Central P. F. Commissioner-II (Pension)

REGD. NO. D. L.-33004/99

 

MINISTRY OF LABOUR AND EMPLOYMENT

NOTIFICATION

New Delhi, the 15th February, 2018

G.S.R. 170(E).—In exercise of the powers conferred by section 6C read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following scheme, further to amend the Employees’ Deposit Linked Insurance Scheme, 1976, namely:-

(1) This Scheme may be called the Employees’ Deposit Linked Insurance (Amendment) Scheme, 2018.

(2) It shall come into force from the date of its publication in the official gazette.

2. In the Employees’ Deposit Linked Insurance Scheme, 1976, in paragraph 22, –

(1) in sub-paragraph (3),for clause (i), the following shall be substituted, namely:-

“(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 times plus fifty per cent, 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 petit—, hi, membership, whichever is less subject to a ceiling of one lakh and fifty thousand rupees:

Provided that the assurance benefit shall not be less than two lakh and fifty thousand rupees: Provided further that the assurance benefit shall not exceed six lakh rupees:

3. The provisions of the first proviso of clause (i) of sub-paragraph (3) of paragraph 22 shall be in force for a period of two years from the date of publication of this Scheme in the Official Gazette.”

[F. No. S-3501218/2017-SS-II]

R. K. GUPTA, It. Secy.

Note: The Employees’ Deposit Linked Insurance Scheme, 1976 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 488(E), dated the 28th July, 1976 and was last amended vide number G.S.R. 438(E), dated the 4th May, 2017.

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Category : Corporate Law (3819)
Type : Notifications (15712) Notifications/Circulars (31533)
Tags : EDLI (8) EPF (279) EPFO (249) Provident Fund (213)

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