Employer contribution calculation for the Deposit Linked Insurance Fund follows wage-based computation, notified rates, and rupee rounding rules. Employer contributions to the Deposit Linked Insurance Fund are calculated on the basis of wages, subject to the applicable wage ceiling. The contribution rate is to be notified by the Central Government in consultation with the Central Board, having regard to actuarial valuation of the Insurance Fund. Each contribution is rounded to the nearest rupee, with fifty paise or more counted as the next higher rupee and fractions below fifty paise ignored.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Employer contribution calculation for the Deposit Linked Insurance Fund follows wage-based computation, notified rates, and rupee rounding rules.
Employer contributions to the Deposit Linked Insurance Fund are calculated on the basis of wages, subject to the applicable wage ceiling. The contribution rate is to be notified by the Central Government in consultation with the Central Board, having regard to actuarial valuation of the Insurance Fund. Each contribution is rounded to the nearest rupee, with fifty paise or more counted as the next higher rupee and fractions below fifty paise ignored.
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