Invalid system path in index.php

Guys,

I'm new to CI and this forum but not to programming and server admin.

I have installed (uploaded) CI v3.1.0 to a shared server.
The CI server and application folders are located in my server root (above my web root (public_html)) in a folder named CI. The index.php file is located in a folder below public_html. I have updated the index.php file with the following paths:

$system_path = '/home/eidus/CI/system'
$application_folder = '/home/eidus/CI/application'

However, when I run index.php from a browser, I receive the following error:

Your system folder path does not appear to be set correctly. Please open the following file and correct this: index.php

What am I missing?