- 1/3 of pension to receive 100 times of monthly pension

- E.g. Pension Rs. 600

Commuted Value = 1/3 X 600 X 100
= Rs. 20,000
- Balance on monthly basis
- Maximum pensionable salary – Rs. 15,000 per month
Employees’ Deposit Linked Insurance Scheme, 1976:
- EDLI Scheme was notified with effect from 1st August, 1976
- Applicable to all the members of the EPF Scheme
- Except an exemption has been obtained for EDLI, in favour of LIC policy
- Employer is required to contribute @ 0.5% of the wages
- Benefits are payable to the person who is entitled to receive the PF of the deceased
member
- assurance benefit” means a payment linked to the average balance in the Provident
Fund Account of an employee, payable to a person belonging to his family or
otherwise entitled to it in the event of death of the employee while being a member of
the Fund