eOpeO Wnt eGugat 2c Udamwsapad The Tamiinadu Dr.Ambedkar Law University Name:LAXMI SREE.M Register no:HC18066 Class:B.B.A,LL.B IV YR Sec:’B’ Subject:LABOUR LAW-II Topic:AN ANALYSIS OF EMPLOYEES’ DEPOSIT LINKED INSURANCE SCHEME,1976 WITH RECENT AMENDMENTS AND ITS BENEFITS DURING THE PANDEMIC Xasm freee ot Students’ sign Faculty’s signlndex Trtle % “ Ano duction | ao: Whar f¢ EDLY dd 3 ‘Kovition, dor FOL iW ht EPF and MP Ack, lat 4 Appicabitty ound etiqibilhy 7 fo claim FDL\ St “Documents veotred Lo claim Fou 1 6 Colewlation of EDN charge Q 7: Contribuctiins 0 ; Hocedure to claim €D11 benefits © 4: Default ( 10° Exemption Hom tel scheme 12 N. EDLY (Arnendmend) Stheme 2p 3! ~ (BAK IQ. How it ewpoorte people amicl pandome \S-[b 15; Advarrtages of FDL 7 Ns Conelusion 8 1S Reference \9ntieduction Uneertornities of Kife in the modern world have Mare qt ade ant 2 INL YUYONLe cOVver iperariv@ Aor Olu Tadividual. Thus 18 cepecially poy b Ong for private-sector employers who do Nok eroy thesarné Qocig| Securtty benefits as bulplic Sector employees. To extend the benefits of Ate ‘surance fo privat 4 Sector om Ployett , tne government das fndyodweed +e erp ines Deposit inked Incwane Scheme CEDLD ta Tb: G4 Te Oy WSUALLE Lover provided. dy EPFO for povake doctors Salaried erp loy eu . EDL apples ¢0 all prganieations wegistere Unde, Fhe Era ploy’ Provident” Fund and — Niecatlancous Povisions Ake mn 40 Are acheme and Orfey life Incurance L euch ow anications must subscriber benefits bo thelt employs ,Wiiat ts EDL? © The Employees Proviclent Fund A Mrscallancou® “Provicfons Ack , 18a paovided i OL provident une and oo forntly pension acherne fox employees from lati mrwards +However if was felt, that Problew arising out of carly death of employee wore Aeft unaddressed: In view ofthis, the Ack was oumended td Fneovporate an fnewance scheme Called Erp loyess” Deposit ofnked Jnswrance Coane tn yar. St fe an Tnsuvance polity tO qi? Rife cover +O the employees OF pyqaniced C 2cFOR > AL fs 0. grou? Lum tnsuvane The founly of eynployee ae the Sun agewed Han employee Ares curt m4 a.pplicarle to alh the LU Vvice period. The Scheme 7s gana LOnich are part Of EPF.‘Vhe wmnplorjces “provi dent Dund Act, aa olllows Some Drqanisa-tons to OPk oukfrom EDL scheme Provided Tay Meek Soo tondirions 4 tornpant es Chow Aife policies jor thelr &mployers dior Other inguy Lt ‘nak are more ativacttye ‘than —DH, em ployee of such ectablichmenk, without any Cepavate —coretyfbutton OY Oay nent OF premiun, Can enjoy those benefPts what EDU . Tims tat opt ov qr oup dorm Inguran ce plans tend 40 OFF Out Of the EPPO? EDU Scheme. On the unfortynote event Of death PFan employe who 1s & mornber Of EDU Scheme, foarnity member $ cpecewve ascured lpenctits The benel tf unde nics ochrerne ie aged on morerhly wanes Cbaste dean piiowanid and/or average balan fr meter s PF gown, gubfeck {0 MurumUM, Wroveii tury. Nails a (ros also rece Aniked the cleath tnswrance {\¥ rf orrbseribas Under Frmoployecs Ve pa pene ‘id 7 | | " \eody Gnsulan CL charm ———— ——~ : ——“i— Dense OOVISIOn {0¥ FDL) fry eopanipncdys Section, bC of Fvployees ‘Provident fund ancl Mis Calloureous Proviaions Ack 185d provides ov the EDL | echeme Setrfon sti)» The central any b oP. ys ee niment may, by nobifica bio7 in bf ficial qarette, frarne EDL Lchorne ox providing ffe inevvanee benefits do the employers of any establichment oy tlass of establishroent 4p which thrs Ack cep plies: 6 (Ca) -There Chall be established, ac coon as mo be OE framing Of qmcurance J$chemne, an t0l fund into whith ghall be pala by employer por deme to Lime tn relovion +p whom Aeic employer such oivour F, not being morethan, 1 pacent of agqreqxate of paste woqess clearest allowance and setaining allowance if any’) for dfrne- being paycuble m Yelation Io such omployee aS gazette I pecifi et” .- Section WO of Empbyees providlertttund & Miscallaneous Yous! Act AseGLYCO » The employer shall pay into the Gnsurance Fund Such further cums of money , noF Cueeding one-fowsh of conitbudfon which he fs Veautred fo make uncer cub-gectio 2% fron time to five, determine to meet alt LXPC hrs es tt Connectiom With administration of the insurance Scheme other than the erpenses towards cock Of any benefiks Provided by of unde that scheme - (5) The fnewrance fund shall vest in central board and be adminis tered by tin such manne as may be Speciffed tn tnsurance {hrenre (2 The insurance scheme ray Provide fov all vv any OF dhe vyiarkbers specified fn &chedulé ly - (=) ‘The ercuvanee scheme may Provide that any of tks provistor ghalt take effect etthes Dios pectively OY yebro spective on ouch date as Miley be Opecifre? iv echeme: | These Ove the Provisions tn selaton tO EDL ocheme.Ap Plicabt re Lo claémn EDL Following persons aye ulmtole fo apply dor this FDU gcheme- 7 Subject 4o erovition: of lola) , mCaA) of Employees “Koviolent finds and Mfecallaneous “Vrovicions vack,'%52_ Anis Scherne Shell apply fo employees of all actortes ond Ohner establichment to which anid Mel applies. a, Nommes made by Own enploy 22 yndles EPF ACE: 3, 41 no nom*natio. subsists, Whole Amount Doid to Members of luis fomily fin equal shpves ' 1, No Shove 16 paid £0 sons Who ave majors > sons ok deceas son who are major >mawied cag hatevs with alive spouse rmarrfed daughtas of deceaced fons whose husbande ave ave: SC if a _ ; e q he : a- section @) of Employers deposit linked, inswvanee CNewme,|aTbTe —sCCS 5) widow and child Ot Adeceased ton worl The amount tn haunt Dorks : yecetve by legal lhefrs Can elofi amount if there ig NO tantly membus and no nominee wept TAN case bt nominee ie mrnov, junta of mtnoy Pevgor tan Clatm amount. I) OCUMents vequived to claim €D TO clafm EOL amount, {following documents have to be ewbmitked - > Orpplicaciovy oven in Prescribed ard suqqested over > death, coveitieaFe Of employe 79 Uardionghip cevtificare ‘ Cyc ess lorv covtif reore — Gn case of claire befing inic.aé bY A lego het of dhe employe & S Bank occow™ detatie tn yohich the clatm unde aye FO be depositedCalculation Of FDL! Chavge We ate nominee will yvecePve a Aun p-sum Pay Or tr event of death OF Ingured peyS0" St NO nommee -rhen other uliaivile bersons WILl Yecei ve t . 4 With effeck from ge-0n-a0al, the payout +0 be Awarded wrt be Calculated as uUndey . EDD charge - q Average monthly tohaxy O¢ Whe ernployee tov Aast 12 months (capper At Ro: ts,000]- p-re) X80 J+ bonus ( Rs.gco00d/-) Thus the maximum poyput under Eel te capped at Rs. 7,00, 000}- with o bast & ac tp All areplayes Wr » EDL apple f und Y C:I ,00 , l ‘L : LL: benef! capped q peu gots adv ivy 5. opfividsa. gov-irthe time of inception OF FDUS, LOntri bution s Were mmacde by both emAoye and central aoverrment! The Ack Cpecitied Mat employer chal con-trbutbe ot VVOVe than ys Of len ale Of basic Wales. Aeonnrese Allow avice includrng cach yolue of fooal toneession and retaining allowance “Gn ian te wad decicled +hot employer would wonhibube. bcs Of Above Mentioned Ooareq vate Pay, Subject to a ceiling of Re-b500° The central pv contyrbured o-at/. OF pay iN PEs DUCE of Lovered umployees. The PY sropped conyibuting 1 «1498- > contribution of employee > none ? contribution of erngoyer > D0 vy max Kyte} Ait these tovdn'butfors are as under the asppropr iat provisions of the Act. B,- section (7) Of Employ ees’ dlepotit Avinked Fnewvan ce echeme 476 ©10 4 Dced ure 40 Claina bens of EDL The po t0 be Followed by nominee or cla?mant Lo Yicetye Qmount unde EDL ae follows > The benefees can be claimed, by nominee. Specified by fnsured person : > The deceated person Should have been an activ ¢ Contribubot to FPF scheme at Afme of hte /her death. 2 EDU fon SIF Mat to be duly completed and Sulpmit bed by Claimant. > Claim has to be signed ancl certifted by em ployer. > there Fs no ernpoyex oy cknadure of employes can't be Oblained , the form mutt be attecbed by ant one bf the followirg x bank manager focal MPO MLA, Gazebted Offices, Magistrate, members /Chatrwan /s ecretary pt Ada! municipal board , post master OY SUb post mactes | ees |” The claimant must cubmié all the document $ long With compteted iam vith vegional £PF LCOMMisefoners Office fox Processing of claim . documents are Provided and claim rs ACtepkea, EPE tommiogfoner must oebtle claim within > One att 30 Adwys torn yecet pk OF clai~n. Othernese - Clatrmant IS endfeled to Infereck @ ALD.a TM date ot actual disburcal ® Def aut VLefod of default Ababec of damages (/: Of arrears per annun Bese than amontie tive (5) clmonkhs ane above but ben (1D) Ress +tyron 4 months four monens ana above fiLteen [ts > hess than b months Las) twenty {ive Orr months A above 5 cleavtaxrty b- cection @-A “of FOL Scheme NATL\W CkemPtion from EDL| Scheme “Wht exemption ts granted lo an ectabli¢hmnent - voheve the ernployees are, yanking any cepararé Covttiiiloution ov payment of premium , tr erfoyrnent OF benefits in noruse of die Insurance wluthes Linked *0 thelr Chepesits tr cproviden* fund or hor and guch benefik admicsilte uncer Nhewyance g creme 9 is vont ee by Certyat provident fund COYNE (oneY by notiffeatAt wm offietal qarerte and fe gubect +o Conctions that may be speyi et in notification Oe fe qvanted etthor YOSP active 1 Ov retrospectively “Rendi ng a OF excmmptim =o An ecrobliShimenk wtaxator oxCey may be eeucd Unde pare. ne(7) SF EDL) ochevne 1476. Theron 17 Cad) of EDN Scher NAT_—_ DL) CAmendment) Scheme Qoal a Hancenuc | The pL (Amendment) Scheme fe effec tive fromm ast Aprtl doat. The cental QP vernment hos wsevrsed the DE! scheme fo fnereate monetary benefits +o claimant ‘Important changes > maximum aAceurance benéfit pyrex para 2a(2 CO EDN echerve ehhanced +o Re-tdakh Srom Rs-blakh ys minimum assurance benefit under fora aala) Arred as Re-raefakh wef. i aagorw > The power-ba rant exemption +0 a Class of emnployces for Provisions OF scheme has beer de leq ocled to = Ae (zone).® Ss monetary tine payable uneler para 29 - Ko-ar 000 , g- para asl) OF EDL schemeAecrosed employer Wag WMnd evemozed vou ag ht prod ~ Widey EPFEMP Acts Provieion Vane W a LMP\04 ment qov (a months “respective of chore of rior +0 death! month OStADIS hrncnt duxing said parict. ” Arwording +o tne Wazetke nowy fecrtion. ; the ner. Xebour minishy Ahad Wweeveoeed mint ceoth msuronce to Rs-ay lakh fom Rs-a lakh fr aoe ; but omy dov ‘Wo years and expired ov (hy. 0: RO XD ° > The reste amendment and notiticatfon will elow tae tontinuation of previous cleciaron with dasnew also aot dp proval Of £PFO Loard- + The Ap per Rent } however nN gory 46) henrefrt as tk ix beng clone for {isk dire: many q- Section MI of EPF and MP Ack, 14aAMA Pandemic ? Te combat financial aifCieultres faced by the founities Of ackiye employees, woho Arave Lock they Aives due £0 (pvideia , the employees provident Tuund prqamication CEPEO) will now provide He Overall maximum death trswiance benelits of R¢-7lakh under employees ‘Clepostt olfrked ins wrance (Cay echerne. The achomes purpose fs #0 ensue tatdane dannily q cs Sinancal aectetance tyLease OF the members acath: “ ELI Scheme available +o all members who are confributi to provident fund - The coverage Wncludes eftablighrmen’s that have sate own provider fundast a we “The aja uous Service Of one one 1S cEntin met to oCheme | wv WW ainen yen not “sostiicked +0 one ettablighment : \ ey, geirior CONS tans, Mercer qo. Jntewwin ith Vishwanath B:‘Prine Mintetey Navendyva Mod? eatd these step will help mii gate tenanctal aiff feulHes daced by Tnese fosrniliee Modr card his Josie (tands iA Goliclarity worth nee farvilies : To hetp these family es Nive odife of dignity and maintain a good Standard of Aivtrg, +e ochene for employ ment- ecic and FPFO- Employees” \ ; ; Family Pension Uren I Provide Depostt kinked aneurane Scheme wi (V Hinoneral aniltes who have Lock their earning mem bei The Goverrmen of 4ndia stands in bolic wit «nese farnilres.” v ne EDL ocheme ;+the offal card the oted that oAtpt ble faraily membus cushion +0 +ose Aue +o COVID- 14. Lariry About * ncEUaYY ~Nae ection yorl = ge an additfonal benefte Rea ies crore fro" EDL Jund ta he iprning three yeas p- dyottker-tom Mnoverctamedt’ , 27 Sort.- - . Advantages oF EDL Advantage Lo Cm plo ev > The premium pay abe by emoloyer fs usually hess than total cevitvibution being paid by employes to RPC pparticutarly when ay) Aevel fe nigh ANd Overag e ane of qroup fe low: ? Seeblement of claim ig qutc key Advantage to tne ermployee DFOeh einployce H covered dor Acum ef money Akperding On Current Glory and service puF mn frown AQ 1 Ferespective Of attual balancein provident fund 7 9A \ERV Ov ely Otere Employce/worke can be Covered fo" a inion Sum oseured vohich W) PU be Clecfded Cepending On qroUup oP. Aecfdunt benefit SDoulle acePdent benelit Con he Allowed +o extertt eo tum Aseuved — tor CurLextya bremium.oriclugon The Covicl \A Daxidemic PS wren King havoc Ccvoss Gndfa. the vou e. eanvertely battling We Lewnd ware pf Pandemic with a Cheep. Werense Ir wzsuthand cleaths- Teisng into actount dine gorvows & Poles Faced by exizens 2covlom cally ona Hrowuta hy the certral enerne ryrervr Ams come Outs wrth the yevenk oyviendwvent th EDL &cheme~ These Arnenchments surely clo promise fo = tempnay nye \Tef 40 te ernployece’ Four Thre move nos wielened the social Security to employees owid the pandentc and Aras beer accep oY people postavely. We CPuspose of scheme is being Sully acheived trough prepe’ rmplenn entation Of the eprocelueq e\eVv[e$ Bipliogiaphy » KD- Srivastava The Employers Vowd unk Finds and Miscellane us Provisions Ack 46 > Madhovan Pillat - labor and Ind wetttal Law >V tn Goswarn ~ torboy Jaw > olfabour and Gnclus ial daw « tL kway Webliogaph Www * opfincia qr www tatagi ingstor www: cleartcux-tovvl www: Goad atociay to Ww: jndiA-Lr-