TaxTMI 
TaxTMI 
Employees' Deposit-Linked Insurance Scheme, 2026
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.... (b) "assurance benefit" means a payment linked to the average balance in the Provident Fund Account of an employee, payable in the event of death of the employee while being a member of the Provident Fund; (c) "Insurance Policy" means a Group Insurance policy issued by an Insurance Service Provider; (d) "Commissioner" means the Central Provident Fund Commissioner, Additional Central Provident Fund Commissioner, Deputy Provident Fund Commissioner, Regional Provident Fund Commissioner and Assistant Provident Fund Commissioner appointed under section 14 of the Code; (e) "member" means a member of the Employees' Provident Funds Scheme, 2026 or of a Provident Fund exempted under section 143 of the Code, who is required to become a member of this scheme; (f) "nominee" means a person nominated in paragraph ^1[44] of the Employees' Provident Funds Scheme, 2026; (2) All words and expressions used herein but not defined shall have the meaning respectively assigned to them in the Code or the rules framed thereunder or the Employees' Provident Funds Scheme, 2026. 3. Administrative and financial powers of Commissioner.- The Commissioner may....
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.... at the rate] specified in the Employees' Provident Funds Scheme, 2026. (2) The damages shall be calculated to the nearest rupee, fifty paise or more to be counted as the nearest higher rupee and fraction of a rupee less than fifty paise to be ignored. 8. Employer's contribution not to be deducted from wages of employee. - Notwithstanding any contract to the contrary, the employer shall not deduct the employer's contribution payable by him under this scheme from the wages of the employees or to recover it from them in any other manner. 9. ^5[Duties of employers]. - (1) Every employer shall send to the Commissioner, within fifteen days of the commencement of this scheme, a consolidated return, of the employees who are entitled and required to become members of the Insurance Scheme as per provisions of Employees' Provident Funds Scheme, 2026 or in case of exempted establishment under section 143 of the Code or under the rules of the provident fund of the establishment. (2) Every employer shall, within fifteen days of the close of each month, upload electronically on the designated portal, details of the employees qualifying to become members of the Fund for the f....
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.... all monies credited into the Insurance Fund hereinafter shall be invested in accordance with the Employees' Provident Funds Scheme, 2026. (3) Notwithstanding sub-paragraph (2), the Central Government may provide for specific investment pattern for the Insurance Fund. 14. Interest. - All interest, rent and other income realised and net profits or losses, if any, from the sale of investments, not including therein the transaction of the Insurance Fund Central Administration Account, shall be credited or debited, as the case may be, to the Insurance Fund. 15. Disposal of Insurance Fund.- (1) Subject to the provisions of the Code and the Insurance Scheme, the Insurance Fund, not including therein the Insurance Fund Central Administration Account, shall not, except with the previous sanction of the Central Board, be expended for any purpose other than the payment of the benefits in accordance with the provisions of this Scheme. (2) The Insurance Fund shall be operated by such officers as may be authorised in this behalf by the Central Board. 16. Administrative expenses. - All expenses relating to the administration of this Scheme shall be met out of the Insurance Fund Ce....
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....very re-appropriation so made shall be reported to the Central Board at its next meeting. (5) The Central Provident Fund Commissioner shall place before the Central Board, a supplementary budget for a financial year giving detailed estimates and reasons of inescapable expenditure which is likely to be incurred during the year for which no provision has been made in the sanctioned budget and which cannot be covered under the provisions of sub-paragraph (4). (6) Any expenditure incurred by the Central Provident Fund Commissioner over and above the sanctioned budget of the financial year not covered under the provisions of sub-paragraphs (4) and (5), shall be reported to the Central Board at the earliest after the excess is established for its consideration and for obtaining sanction of the Central Government. 21. Scales of assurance benefit and minimum average balance maintained by employee.- (1) On the death of an employee, who is a member of the Fund or of a Provident Fund exempted under section 143 of the Code, as the case may be, the person/(s) entitled to receive the provident fund accumulations of the deceased shall, in addition to such accumulations be paid an amount,....
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....n addition to such accumulations to be paid an amount, equal to: - (i) the average monthly wages drawn (subject to a maximum of the wage ceiling notified by the Central Government), during the twelve months preceding the month in which he died, multiplied by thirty-five 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 143 of the Code, as the case may be, during the preceding twelve months subject to a ceiling of one lakh and seventy-five thousand rupees: Provided that the assurance benefit shall not be less than two lakh and fifty thousand rupees and shall not exceed seven lakh rupees; (ii) the amount of benefit under sub-paragraph (1), whichever is higher: Provided that for the purpose of determination of continuous period of twelve months required for eligibility of minimum assurance benefits payable under sub-paragraph (4) of this scheme, the gap of sixty days between two spells of employment shall be ignored and such multiple services shall be added being treated as continuous service. Explanation.- In the case of a part-time employee who is a m....
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....he murder or abetting the murder of the member, he shall be debarred from receiving his share of deposit linked assurance benefit which shall be payable to ^14[other eligible members of the family or nominee, as the case may be,]; or (b) acquitted of the charge of murder or abetment in the murder of the member, his share shall be payable to him. Explanation: For the purpose of this paragraph, a member's posthumous child, if born alive, shall be treated in the same way as a surviving child born before the member's death. 23. Mode of payment of assurance amount. - (1) Every claimant shall file a claim to the Commissioner in the form and manner specified by the Central Provident Fund Commissioner, either online or offline, to claim payment under this Scheme. (2) The payment shall be made to the person through electronic funds transfer system in savings bank account of any scheduled bank or co-operative bank (including an Urban Co-operative Bank) or in any post office as specified in the Employees' Provident Funds Scheme, 2026. (3) The claims, complete in all respects submitted along with the requisite documents shall be settled and benefit amount paid to the benef....
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....cheme may be granted subject to the following terms and conditions, namely:- (i) the establishment making such an application for grant of exemption shall submit consent of majority of employees; (ii) an establishment seeking exemption or extension of exemption from the ^16[Employees' Deposit-Linked] Insurance Scheme shall purchase Insurance Regulatory and Development Authority of India approved Group Insurance Policy for all its employees and employer shall certify in writing that the benefit is more beneficial than that is available in this scheme and that employees are not making any separate payment of contribution or premium; (iii) an establishment seeking exemption or extension of exemption from the ^17[Employees' Deposit-Linked] Insurance Scheme shall apply at least six months in advance from the proposed date of exemption or expiry of exemption; (iv) the exemption granted under section 143 of the Code shall come into effect prospectively; (v) all employees, who were eligible to become members of the Provident Fund or Provident Fund granted exemption under section 143 of the Code, shall be enrolled as members of ....
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.... of exemption continue to be satisfied by the establishment or till such time that the establishment makes an application for cancellation or surrender of exemption ^20[and the same] is accepted or the Appropriate Government issues an order giving reason therein specifying a date beyond which the order of renewal shall cease to operate and shall be void. 29. Special provisions in respect of Employees' Enrolment Campaign, 2026.- The Employees' Enrolment Campaign, 2026 specified in the Employees' Provident Funds Scheme, 2026 shall mutatis mutandis apply to this scheme. 30. Transition provisions. - (1) The establishments granted exemption under the Employees' Deposit-Linked Insurance Scheme, 1976 shall continue to be valid and such establishments may file an application for renewal. (2) The establishments which do not fall under sub-paragraph (1) shall start complying as un-exempted establishment and start depositing monthly contributions from the 1st day of the month following the expiry of validity of the exemption or from the date of commencement of this scheme. 31. Writing off of losses. - The Central Board, where it is satisfied that the amount of contribution, c....
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....Policy number (UIN) Data entry 6. Validity Data Entry From ________ to _________ 7 Assurance benefit Minimum Data entry Maximum Data entry 8 Policy exclusion, if any. Data entry Part C: (i). EMPLOYEES DETAILS (Monthly) SI. No. Field Name Field Type Remarks 1. Number of employees as on close of previous month Data entry One-time data entry (only in the first return). On the next month the number of employees as on close of previous month is automatically displayed. 2. Number of employees who joined in the current month Data entry To be same as per ECR 3. Number of employees who Exited/left during the current month Data entry To be same as per ECR 4. Number of employees as at the end of current month Display Sum of ^21[(1+2-3)] All types of employees are included. 5. From Sl. No. 3 above, Number of Employees who died while in service. Data entry 6 Opening Balance of Claims One time data entry No of Claims received Data entry ....
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....it was read as, "Deposit Linked" 4. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "from the employer by way of penalty, damages at the rate and" 5. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "Duty of employer" 6. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "Deposit Linked" 7. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "Deposit Linked" 8. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "Deposit Linked" 9. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "Provident Fund during preceding twelve months" 10. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "Provident Fund exempted together" 11. Corrected vide Corrigenda No. G.S.R. 705(E) dated 04-08-2026 before it was read as, "Provident Fund during the preceding twelve months" 12. Corrected vide Corrigenda No. G.S.R. 705(E) ....