EDLI Calculation is very different from other scheme calculation. As it is a Deposit linked scheme, the average progressive balance or APB is one importtant factor.
APB is average of total balance in 12(n) months prior to date of death(-any withdrawals).
The other factors are decided based on circulars issued from time to time and the applicability of the circular is based on date of death.
Hence, two major variables in EDLI calculation are Average Progressive Balance and Date of Death.
Based on Date of death many factors are decided such as Minimum, Maximum, percentage of APB to be taken etc.
What are the parts - Part A and Part B?
EDLI amount calculation is done by two formulas and the member is eligible for the amount whichever is greater. You may check the table and relevant circulars by clicking link given in input form.
Part A = Proportional amount+ Percent*(APB-Proportional)[subject to Maximum]+Additional_Percent*Amt if maximum not reached
Part B (If Continuous service conditions are satisfied) = Avg. wages up to ceiling*Factor based on Date of death+ Percent*APB[subject to Maximum]... Subject to minimum amount in case of continuous service conditions"