{"id":20286,"date":"2022-04-19T07:52:29","date_gmt":"2022-04-19T07:52:29","guid":{"rendered":"https:\/\/insuropedia.in?p=20286"},"modified":"2026-01-09T09:18:36","modified_gmt":"2026-01-09T09:18:36","slug":"all-you-need-to-know-about-employee-deposit-linked-insurance","status":"publish","type":"post","link":"https:\/\/securenow.in\/insuropedia\/all-you-need-to-know-about-employee-deposit-linked-insurance\/","title":{"rendered":"All you need to know about Employee Deposit Linked Insurance"},"content":{"rendered":"
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Employee Deposit Linked Insurance (EDLI\u00a0 )was introduced by the Government in the year 1976 for private-sector employees. However, it was intended to offer financial support to the employee and their family in the happening of an unforeseen event.<\/span><\/p>\n

Under the Employee Deposit Linked Insurance, <\/span>\u00a0the insured employee will have life coverage. So, in the untimely death of the employee, the dependents of the deceased will receive the death benefit as financial support.<\/p>\n

Understanding the nuances of Employee Deposit Linked Insurance<\/b><\/h3>\n

Under the scheme, the Employee Provident Fund Organisation (EPFO) offers life insurance coverage to private sector employees. Thus, all registered companies under the EPF and miscellaneous Act, 1952 are eligible to apply for Employee Deposit Linked Insurance; and have to apply for the same.<\/span><\/p>\n

Correspondingly, all registered organizations need to subscribe to this scheme and provide life insurance coverage to their employees.<\/p>\n

Calculating the eligibility\u00a0<\/b><\/h3>\n

The last drawn salary of the employee will determine the quantum of life cover that the employee will be eligible for. In the event of the eventuality of the employee, the beneficiary received the benefit.\u00a0<\/span><\/p>\n

Thus, you can calculate the quantum of Employee Deposit Linked Insurance as below:<\/span><\/p>\n