Don't like this setup because you don't have latching safety circuit. How you have it now soon as you release the E-stop the system becomes active again regardless if the fault is cleared or not.

Personally, I would run the E-Stop thru Master relay wired so forms latch. This then controls the Killing of power to high powered devices like Drives, Vfd etc. Then informs PMDX E-stop occurred which then does the Rest and turns off its Outputs. The Master Relay can only be Reset by pressing Momentary Button and will only allow the Relay to reset if all faults are clear.
The E-stop circuit can then be run using 24V giving better noise immunity.