ATTENTION EMPLOYERS EXEMPTED UNDER SECTION 17(2A) OF THE EPF & MP ACT,1952 UNDER EDLI SCHEME 1976

ATTENTION EMPLOYERS EXEMPTED UNDER SECTION 17(2A) OF THE EPF & MP ACT,1952 UNDER EDLI SCHEME 1976

The Govt. of India. Ministry of Labour & Employment vide Notification No.GSR 9 (E) dated 08.0 1.2011 has amended the EDLI Scheme, 1976 as fòllows:

In the Employees’Deposit Linked Insurance Scheme.1976, in paragraph 22, after sub-paragraph(2), the following sub-paragraph shall he substituted, namely

‘0n the death of an employee, who is a member of the Fund or of a Provident Fund exempted under Section 1 7 of the Act, as the case may be, who was in the employment of the same establishment for a continuous period of twelve months, preceding the month ¡n which he died, the persons entitled to receive the Provident Fund accumulations of the deceased shall,in addition to such accumulations be paid an amount equal to:- (I) the average monthly wages drawn( Subject to a maximum of rupees six thousand five hundred) during the twelve months preceding the month in which he died, multiplied by twenty times or (ii) the amount of benefit under sub
paragraph( 1) whichever is higher”.

Consequent to the enhanced benefit under EDLI Scheme, 1976, all the  proposal fòr grant of exemption / extension of exemption already granted will be examined afresh. You are advised to modify the Master Policy if required for enhanced amount, which is more favorable than the existing /enhanced benefits paid under [DLI Scheme, 1976 by this office. The enhanced benefits should be paid or payable by the Insurance Agency who is issuing the Master Policy from the date of Notification. A copy of the renewal documents indicating the enhanced benefit may be submitted to this office immediately for considering your proposal for grant of exemption / extension of exemption.

The grant of exemption under Section l7(2A) in respect of your establishment will be considered afresh from 08.01.2011.

source-http://www.epfochennai.tn.nic.in/default.asp