EDLI scheme calculation and details

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1

Hi Community,

I am looking for more details on EDLI scheme and details. How it’s calculated ? How are claims done?

Please guide

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2

Hi Gowri,

Calculation goes like this-
With effect from 28.04.2021, the pay-out to be awarded will be calculated as under:

{Average Monthly Salary of the Employee for the last 12 months (capped at Rs.15,000/- p.m.) x 30 } + Bonus Amount (Rs.2,50,000/-)

Therefore, the maximum payout under EDLI is capped at Rs. 7,00,000/-.

A clear article will guide you with the details.

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