Life Insurance
The existing wage-limit for coverage under the Act, is Rs. 21,000/- per month (with effect from 1.01. 2017).
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PF & ESIC Compliances
Speaking on EPF Compliance, Solanki said, “All members contributing to Provident Fund are automatically insured for their life during their service period. Employer’s contribution to the Insurance Scheme is 0.5 per cent. The maximum amount payable to the nominee in case of death of an employee is Rs 1 lakh.”
