There are many benefits of taking Employee Deposit Linked Insurance Scheme for employers as well as employees.
Benefits for Employers
1. Premium payable under this scheme is lower than the statutory contribution to be made in R.P.F.C
2. Premium can be accounted as normal business expense for the company
3. Settlement of claims is quicker as insurance companies require minimal documentation at the time of claim
Benefits for Employees
1. Employees are covered for a higher Sum Insured
2. Employees or their dependents have to follow few steps to get the claims settled