Hi Friends, Here with i am attaching the GO copy of amendment in enhancement of EDLI benefit. Hope it will be useful for all.
From India, Madras
5From India, Madras
Can any one can provide me the copy of latest amendment in Workmens Compensation Act,1923 now known as " Employees Compensation (Amendment ) Act ,2010.
I require the soft copy urgently in order to settle the issue .
Regards,
AK Sharma
email id :
From India, Pune
I require the soft copy urgently in order to settle the issue .
Regards,
AK Sharma
email id :
From India, Pune
Dear All
Please tell me about VAT refund rules, if last year invoice missing to entering in accounting than we can get VAT benefit, please say me rules and details information about this doubts.
Thanks.
Nagesh S Surwase
From India, Pune
Please tell me about VAT refund rules, if last year invoice missing to entering in accounting than we can get VAT benefit, please say me rules and details information about this doubts.
Thanks.
Nagesh S Surwase
From India, Pune
I went thru the GO but I am unable to understand the contents. As I understand, members nominee gets a fixed amount (Rs. 57000???), in case of a death of the member.
I would like to know: What would be the exact effect or impact of this amendment. Seniors please respond.
From India, Pune
I would like to know: What would be the exact effect or impact of this amendment. Seniors please respond.
From India, Pune
Dear Mr. Anil Sharma,
In reference to your query, please find herehre the desired information,
Parliament has passed Workmen's Compensation (Amendment) Bill 2009 which mainly provides for the following:
a) Change of name of the Act to Employees Compensation Act 1923
b) Enhancement in minimum compensation payable from Rs.80,000 to Rs.1,20,000 (in case of death) and from Rs.90,000 to Rs.1,40,000 (in case of permanent disability) and funeral expenses from Rs.2,500 to Rs.5,000.
c) Reimbursement of actual medical expenses incurred during treatment of injury caused during course of employment.
d) Increase in coverage by omission of restrictive clause in Schedule-II and inclusion of additional hazardous activities
e) Disposal of cases of compensation by Commissioner within 3 months
f) Empower Central Govt. to specify monthly wages for the purpose of compensation and enhance minimum rates of compensation from time to time.
Copy of the Bill is attached for your ready reference. It will become Act after getting the assent of the President and will come into force on such date as may be specified in the notification to be issued by the Govt.
With Regards,
Ashish K Sharma
Sr. Manager-HR & Admn
DSC Limited
9990590444
From India, Gurgaon
In reference to your query, please find herehre the desired information,
Parliament has passed Workmen's Compensation (Amendment) Bill 2009 which mainly provides for the following:
a) Change of name of the Act to Employees Compensation Act 1923
b) Enhancement in minimum compensation payable from Rs.80,000 to Rs.1,20,000 (in case of death) and from Rs.90,000 to Rs.1,40,000 (in case of permanent disability) and funeral expenses from Rs.2,500 to Rs.5,000.
c) Reimbursement of actual medical expenses incurred during treatment of injury caused during course of employment.
d) Increase in coverage by omission of restrictive clause in Schedule-II and inclusion of additional hazardous activities
e) Disposal of cases of compensation by Commissioner within 3 months
f) Empower Central Govt. to specify monthly wages for the purpose of compensation and enhance minimum rates of compensation from time to time.
Copy of the Bill is attached for your ready reference. It will become Act after getting the assent of the President and will come into force on such date as may be specified in the notification to be issued by the Govt.
With Regards,
Ashish K Sharma
Sr. Manager-HR & Admn
DSC Limited
9990590444
From India, Gurgaon
The notification mentions that the scheme shall come into force from the date of its publication in the Official Gazette. Any idea when the scheme is effective.. also if you could share the circular
From India, Mumbai
From India, Mumbai
I went thru the GO but I am unable to understand the contents. As I understand, members nominee gets a fixed amount (Rs. 57000???), in case of a death of the member.
I would like to know: What would be the exact effect or impact of this amendment. Seniors please respond.
From India, Pune
I would like to know: What would be the exact effect or impact of this amendment. Seniors please respond.
From India, Pune
Dear Thanks for good information but I have one ? if employer take EDLI in LIC SCHEME so this employer entitle or not this amendment. Thanks Harish shah
From India, Ahmadabad
From India, Ahmadabad
Dear vkokamthankar,
EDLI is the abbreviation of Employees' Deposit Linked Insurance Scheme. Here deposit means average deposit in EPF. When an employee dies while in service, family will get some compensation based on his/her deposit. To get the claim, the employer has to pay 0.5% as its premium.
1. Determination of Deposit.
Average of deposit of last twelve months as well as total service, will be calculated and whichever is less being taken for the calculation.
2. Determination of Compensation.
Upto Rs. 50,000/- he will get actual. Beyond first 50,000/- he will get 40% of the rest; subject to ceiling of Rs. 100,000/-.
Eg. a) Deposit Rs. 100,000
For 1st 50000 - 50000, Next 50000 - 20000
Total - Rs. 70,000 (will get full amount as it is not more than 100,000).
Eg. b) Deposit Rs. 200,000
For 1st 50000 - 50000, Next 150,000 - 60000
Total - Rs. 110000 (will get Rs.100,000 only as it ecxeeds 100,000).
Eg. c) Deposit Rs. 300,000
For 1st 50000 - 50000, Next 250,000 - 100,000
Total - Rs. 150,000 (will get Rs. 100,000 only as it exeeds 100,000/-)
But there is better Insurance schemes with the same premium, even without cosidering the deposits. With this type of better benefits, some of the organisations are exempted from EDLI. Instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Abbas.P.S, ITI Ltd, Palakkad 678 623.
Ph. +91 9447 467 667
From India, Bangalore
EDLI is the abbreviation of Employees' Deposit Linked Insurance Scheme. Here deposit means average deposit in EPF. When an employee dies while in service, family will get some compensation based on his/her deposit. To get the claim, the employer has to pay 0.5% as its premium.
1. Determination of Deposit.
Average of deposit of last twelve months as well as total service, will be calculated and whichever is less being taken for the calculation.
2. Determination of Compensation.
Upto Rs. 50,000/- he will get actual. Beyond first 50,000/- he will get 40% of the rest; subject to ceiling of Rs. 100,000/-.
Eg. a) Deposit Rs. 100,000
For 1st 50000 - 50000, Next 50000 - 20000
Total - Rs. 70,000 (will get full amount as it is not more than 100,000).
Eg. b) Deposit Rs. 200,000
For 1st 50000 - 50000, Next 150,000 - 60000
Total - Rs. 110000 (will get Rs.100,000 only as it ecxeeds 100,000).
Eg. c) Deposit Rs. 300,000
For 1st 50000 - 50000, Next 250,000 - 100,000
Total - Rs. 150,000 (will get Rs. 100,000 only as it exeeds 100,000/-)
But there is better Insurance schemes with the same premium, even without cosidering the deposits. With this type of better benefits, some of the organisations are exempted from EDLI. Instead they are providing in lieu of EDLI. There are schemes which specifies more than 100,000/- for natuaral death and double benefits for accidental death.
Abbas.P.S, ITI Ltd, Palakkad 678 623.
Ph. +91 9447 467 667
From India, Bangalore
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