Form - Lic Efeap Full

Since LIC is a profit-making entity, the corporation often declares loyalty additions or terminal bonuses on the EFEAP corpus based on the employee’s length of service and the fund’s performance.

Traditionally, it is a multiple of the employee’s average monthly emoluments (basic + DA + qualifying allowance). For many years, it was 5 to 10 times the monthly salary, but LIC revises this periodically through internal circulars. lic efeap full form

You will receive only your own contributions (without the employer’s share) plus a nominal interest. The risk cover ceases immediately upon resignation. Since LIC is a profit-making entity, the corporation

Full Form: Employees’ Family Advance/Assistance Plan (Commonly referred to as the Employees' Family Benefit Scheme). Since LIC is a profit-making entity