1. What is EDLI?

Definition: EDLI (Employees' Deposit Linked Insurance) is an insurance scheme linked to the Employees' Provident Fund (EPF) in India.

Purpose: It provides life insurance protection to members of the EPF scheme.

2. How Is EDLI Calculated?

The calculator uses the formula:

Where:

• \( EDLI \) — Insurance benefit amount
• \( \text{Average Salary} \) — Average monthly salary of the employee

Explanation: The insurance benefit is calculated as 35 times the average monthly salary of the employee.

3. Importance of EDLI Calculation

Details: Understanding EDLI helps employees know their insurance coverage and beneficiaries understand potential benefits.

4. Using the Calculator

Tips: Enter the average monthly salary in dollars. The value must be greater than 0.

5. Frequently Asked Questions (FAQ)

Q1: What is the maximum EDLI benefit?
A: The maximum benefit is typically capped at a specific amount set by the government.

Q2: Who is eligible for EDLI?
A: All employees enrolled in the EPF scheme are automatically covered under EDLI.

Q3: How is average salary calculated?
A: It's typically calculated as the average of the last 12 months' salary.

Q4: Is there a minimum EDLI benefit?
A: Yes, there is usually a minimum guaranteed benefit regardless of salary.

Q5: Who receives the EDLI benefit?
A: The nominee or legal heir of the deceased employee receives the benefit.