DLI - Deposit Linked Insurance Scheme

 

DLI   - Deposit Linked Insurance Scheme

• DLI stands for Deposit Linked Insurance  
• Introduced w.e.f.,  08.01.1975 
• Revised vide RBE 221 of 2009 (Letter No. E(W)2009/WE-1/10 dated 14.12.2009) - These orders are effective from 06.06.2009  Click for RBE 221
• Objects: 1. To provide extra social security to the families of subscribers to SRPF  2. A positive incentive to Railway employees who save more (in their PF Account) 
• Payment of Premium is not required. 
• Minimum Service: 5 Years
• Minimum qualifying balance is as follows: 

Grade Pay	Minimum qualifying balance in the last 3 Years at the credit of the PF account of the deceased employee.
Grade Pay Rs 4,800 and above	Rs. 25000
Grade Pay Rs 4,200 but less than 4,800	Rs. 15000
Grade Pay Rs 1,400 but less than 4,200	Rs. 10000
Grade Pay Rs 1,300 but less than 1,400	Rs. 6000

• Payment: The minimum balance available in PF account during the last 36 months subject to the ceiling limit of Rs. 60,000 will be paid to the heir of deceased employee. 

Example 1

• Mr. A, whose Grade Pay is ₹4200, passed away on 05.01.2022.
• The minimum balance in his Provident Fund (PF) account during the 36 months preceding January 2022 was ₹16,000.
• Hence, the DLI (Deposit Linked Insurance) payment payable to the heir of Mr. A is ₹16,000.

---

Example 2

• Mr. B, whose Grade Pay is ₹1300, passed away on 05.01.2022.
• The minimum balance in his PF account during the 36 months preceding January 2022 was ₹5,900.
• Since the minimum balance (₹5,900) is less than the required minimum of ₹6,000, the heir of Mr. B is not eligible for DLI payment.

---

Example 3

• Mr. C, whose Grade Pay is ₹4800, passed away on 05.01.2022.
• The minimum balance in his PF account during the 36 months preceding January 2022 was ₹72,000.
• Therefore, the DLI payment payable to the heir of Mr. C is ₹60,000, which is the maximum amount admissible under the DLI Scheme.

---

 Key Points for MCQ - DLI

1. Maximum DLI to be paid is Rs.60000
2. Payment of DLI is minimum balance in last 3 Years subject to maximum of Rs.60000
3. Qualifying period is 3 Years
4. Minimum Service is 5 Years
5. DLI stands for Deposit Linked Insurance
6. Introduced in the year 1975 
7. Applicable to the SRPF subscribers only
8. SRPF stands for State Railway Provident Fund
9. Authority: RBE 221 of 2009

 

  —-End—-