Which of the following is correct relating to the amount of claim under EDLI?

Following the 2021 amendment to the Employees' Deposit-Linked Insurance (EDLI) Scheme, 1976, the maximum assurance benefit payable in the event of an employee's death while in service is '35 times the average monthly wages in the past 12 months, subject to a maximum rupees 7 Lakh' (including a ceiling of Rs. 15,000 on monthly wage plus a bonus of Rs. 1.75 lakh, capped at Rs. 7 lakh).