The employees provident fund and miscellaneous provisions Act , 1952

1. Institute of social sciences
DEPARTMENT OF SOCIAL WORK
SUBMITTED TO
Dr. R.K BHARTI
(Prof. Department of social work.)
SUBMITTED BY
AVKESH NIGAM
MSW 3RD SEMESTER
ROLL :- 08
ASSINGMENT ON
THE EMPLOYEE’S PROVIDENT FUND AND
MISCELLANEOUS PROVISIONS ACT, 1952

2.  With the industrial growth of big employers had introduced
schemes of PROVISION FUND the welfare of their workers.
But all these schemes were PRIVATE & VOLUNTEER…
 In 1946 committee known as the LABOUR INVESTIGATION
COMMITTEE was formed to investigate the function of the
provident fund..
 On 11TH faburary 1948 a private bill was introduced in the
CONSTITUTION ASSEMBLY OF INDIA…
 In November 1950 the STANDING LABOUR COMMITTEE
discussed the subject of provision fund for industries ..
 On 15th november 1951 the government of India greed
promulgated THE EMPLOYEES PROVIDENT FUND

3.  THE EMPLOYEES PROVIDENT FUND BILL
WAS PASSED BY BOTH HOUSE OF
PARLIAMENT AND IT WAS ASSENTED BY
PRESIDENT ON 14TH MARCH 1952 ..
 It come on the STRACTURE BOOK as THE
EMPLOYEES PROVIDENT FUND ACT, 1952
 NOW its stands as ‘’THE EMPLOYEE’S
PROVIDENT FUND AND
MISCELLANEOUS PROVISION ACT
1952’’
 This ACT extend to whole of india, expect STATE
JAMMU AND KASHMIR

4.  BASIC WGES :-
 All the emoluments
which are earned by an
employees while on
Duty…
 CONTRIBUTION :
 A CONTIBUTION PAYBLE IN
RESPECT OF A MEMBER
UNDER THE SCHEME..
 FUND
 the provident fund
establishment under a
scheme..

5. DEFINITIONS
EMPLOYER:-
in retletion to an establishment
which is a factory, the OWNER or
OCCUPIER of the factory in
industrial institution and company..
EMPLOYEE :-
any person who is employed for
wages in any kind of work manual.
Or
The connection with the work of
an establishment..

6.  THE EMPLOYEE’S
PROVIDENT FUND
SCHEME,1952
 THE EMPLOYEE’S PENSION
SCHEME , 1995
 THE EMPLOYEE’S DEPOSITE –
LINKED INSURANCE SCHEME ,
1976

7.  Any worker who employed for work in
factory or establishment…
 Basic wages 15,000 rupees (DA + RA)
APPLICABILITY
TO EVERY FACTORY OR ESTABLISHMENT
WHICH IS ENGAGED 20 OR MORE EMPLOYEES
ARE EMOLOYED

8. ACCOUNT
HEAD
CONTRIBUTION
HEAD
% OF
CONTRIBUTION
CONTRIBUTION
ON Maxm. Rs
15,000 EPF Wages
ACCOUNT -1 EMOLOYER
SHARE
3.67% OF EPF
WAGES
550/-
ACCOUNT -1 EMOLOYEES
SHARE
12% OF EPF
WAGES
1800/-
ACCOUNT-2 ADMNT
CHARGE
1.085 % EPF
WAGES
165/-
ACCOUNT- 10 PENSION
FUND
8.33% OF EPF
WAGES
1250/-
ACCOUNT- 21 EDLI 0.5 % OF EPF
WAGES
75/-
ACCOUNT -22 EDLI ADMNT
CHARGES
0.5% OF EDLI
WAGES
75/-
RATE OF CONTRIBUTION

9. BENEFITS
1. RETIRMENT BENEFIT
2. HOUSING
3. CERTAIN FAMILY
OBLIGATIONS
4. EDUCATIONS OF CHILDRENS
5. FINANCIAL OF INSURANCE
POLICIES
6. INCOME TAX BENEFITS
7. MEDICAL CARE
8. INTEREST PAYBLE (8.55) % p.a

10. WITHDRAWAL CONDITIONS
1.FOR MARRIAGE EXPENSIVES
2.FOR EDUCATIONS FEES
3.FOR MEDICAL TREATMENT
4.FOR PURCHASE OF HOUSE OR
PLOT
5.REPAYMENT OF HOME LOAN
6.REPAIRS AND RENOVATION OF
HOUSE

11. REASON EPF WITHDRAWAL
LIMIT
Min Years of
Service REQUIRED
MARRIAGE UP TO 50% 0F
EMPLOYEES SHARE
7 YEARS
EDUCATION UP TO 50% OF
EMPLOYEES SHARE
7 YEARS
PURCHASE OF
LAND
/CONSTRUCTION
HOUSE
UP TO 36 TIMES OF
MONTHLY PAY + DA
5 YEARS
HOME LOAN
REPAYMENT
Up to Max. 90% from both
contribution
10 YEARS
RENOVATION OF
HOUSE
UP TO 12 TIMES OF THE
MONTHLY WAGES
5 YEARS
AFTER 57 OF
AGE
UP TO 90% OF
ACCULIMATED
BALANCE WITH
INTEREST
57 YEARS OF AGE
LOCK OUT 50 % OF EMPLOYEES
SHARE
CLOSE FOR 15 DAYS/
NO WAGES FOR 2

12. AMMOUNT TIME OF
WITHDRAWAL
TDS
EPF
WITHDRAWAL
AMMOUNT LESS
THAN
RS 50,000 /- RS
BEFORE 5 YEARS
OF OPENING EPF
ACCOUNT
――――――――――――
AFTER 5 YEARS
WITH PAN :- TDS
@10%
WITHOUT PAN:-
@34.6%
―――――――――――――
NO TDS
EPF WITHDRAWAL
AMMOUNT
GREATER THAN
RS 50,000/- RS
ANYTIME NO TDS
TDS CONDITIONS

13. Sr Num
PERIOD OF DAMAGES
RATE OF
DAMAGES
ARREARS (PER
ANNUM)
1. LESS THAN 2 MONTHS
5%
2. TWO MONTHS AND ABOVE
BUT
LESS THAN FOUR MONTHS
10%
3. FOUR MONTH AND ABOVE
BUT
LESS THAN SIX MONTHS
15%
4. SIX MONTHS AND ABOVE
25%

14.  ANY EMPLOYERS LIABLE TO BEING
ARRESTED WITHOUT WARRANT TO
BEING A ORGANISABLE OFFENCES….
 ANY EMPLOYERS AVOID SUCH
PAYMENT COUSE TO BE FALSE
STATEMENT OR FALSE
REPRESENTATIVES
 ANY EMPOLOYERS MAKE ANY
DEFOULTS Like PAYING
CONTRIBUTIONS OR INSPECTION /
ADMINISTRATIVE CHARGES
 ATTRACT IMPRISONMENT UP TO
3 YEARS
 AND FINE UP TO 10,000/- RS OR
 BOTH…

15. THANKS YOU.