Deposit Linked Insurance (Amendment)
Scheme 2018
MINISTRY OF LABOUR AND
EMPLOYMENT
NOTIFICATION
New Delhi, the 15th February, 2018
G.S.R. 170(E). - In
exercise of the powers conferred by section 6C read
with sub-section (1)
of section 7 of the Employees' Provident Funds and
Miscellaneous
Provisions Act, 1952 (19 of 1952), the Central
Government hereby makes
the following scheme, further to amend the Employees'
Deposit Linked
Insurance Scheme, 1976, namely:-
1. (1) This Scheme may be called the Employees' Deposit
Linked Insurance (Amendment) Scheme, 2018.
(2) It shall come into force from the date of its
publication in the official gazette.
2. In the Employees' Deposit Linked
Insurance Scheme, 1976, in paragraph 22, -(1) in sub-
paragraph (3), for
clause (i), the following shall be substituted,
namely:-
"(i) the average monthly wages drawn
(subject to a maximum of fifteen thousand rupees),
during the twelve
months preceding the month in which he died, multiplied
by thirty times
plus fifty per cent. of the average balance in the
account of the
deceased in the Fund or of a provident fund exempted
under section 17 of
the Act or under paragraph 27 or 27A of the Employees'
Provident Funds
Scheme, 1952, as the case may be, during the preceding
twelve months or
during the period of his membership, whichever is less
subject to a
ceiling of one lakh and fifty thousand rupees:
Provided that the assurance benefit shall not be less
than two lakh and fifty thousand rupees:
Provided further that the assurance benefit shall not
exceed six lakh rupees:
3. The provisions of the first proviso
of clause (i) of sub-paragraph (3) of paragraph 22
shall be in force for
a period of two years from the date of publication of
this Scheme in
the Official Gazette."
[F. No. S-35012/8/2017-SS-II]
S/d,
R. K. GUPTA,
Jt. Secy
R. K. GUPTA,
Jt. Secy
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