The document outlines the key aspects of the Employee Provident Fund (EPF) scheme in India, including eligibility, contributions from employers and employees, investment patterns, withdrawal procedures, settlements on retirement or termination, exemptions from tax, and benefits. EPF is a mandatory savings program for employees in India that provides tax-deferred savings and a lump sum payment on retirement. Non-compliance by employers can result in penalties like fines and imprisonment.
The document summarizes the key aspects of the Employees' Provident Fund Scheme in India. The scheme applies to establishments with 20 or more employees and provides for provident fund, pension fund and insurance benefits. It requires monthly contributions from employers and employees and entitles members to benefits such as partial withdrawals for purposes like housing, education, marriage, or full withdrawal upon retirement after age 55.
The document provides an overview of the Employee Provident Fund Act of 1952 in India. It discusses key aspects such as scope, eligibility, contributions, withdrawals, settlements, forms and returns, benefits, and penalties. The EPF is a mandatory savings program for employees in India that aims to provide social security benefits. Both employers and employees contribute equally to the fund at a rate of 12% each, and the accumulated savings can be withdrawn at retirement or under other circumstances.
The Employees Provident Fund and Miscellaneous Provisions Act, 1952 provides for provident funds, pension funds, and insurance for employees in factories and establishments with 20 or more workers. It applies to all of India except Jammu and Kashmir. The key schemes under the Act are the Employees Provident Fund, Employees Pension Scheme, and Employees Deposit Linked Insurance. The Act requires employers to make contributions to funds for employees and provide various benefits like provident fund savings, pension, and death benefits.
The document discusses three key schemes under the Employees' Provident Fund Act of 1952:
1) The Employees Provident Fund Scheme provides retirement benefits including a provident fund and pension funded by equal monthly contributions from employers and employees. It applies to most private establishments with 20 or more employees.
2) The Employees Pension Scheme provides pension benefits to members who retire after 20 years of service or at age 58.
3) The Employees Deposit-Linked Insurance Scheme provides life insurance benefits funded by a 0.5% contribution from employers, providing a ₹600,000 payout to families upon an employee's death while in service.
The Employees Provident Funds & Miscellaneous Provisions Act, 1952 provides retirement benefits to employees in India, including a lump sum amount at retirement and a pension. It applies to establishments with 20 or more employees. The Act established three schemes - Employees' Provident Fund Scheme, Employees' Pension Scheme, and Employees' Deposit Linked Insurance Scheme. It is managed by the Central Board of Trustees for the Provident Fund with representation from central and state governments, employers, and employees.
The Employee Provident Fund (EPF) established in 1952 provides benefits like provident fund, pension, and death benefits to members. Members receive partial contributions from their employers at 12% annually along with guaranteed interest rates set by the government. Upon resignation, members can settle their account to receive their own contributions plus employer contributions and accrued interest.
This document summarizes key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 in India. It applies to establishments with 20 or more employees and can be extended to those with less than 20 by the central government. The appropriate government is the central government for certain establishments and the state government for others. The act covers employees earning less than Rs. 6,500 per month. It is administered by the Central Provident Fund Commissioner and establishes rules around employee and employer contribution rates, interest rates on provident funds, and conditions for withdrawal of funds for purposes like housing, education, illness, and more.
The document outlines the key aspects of the Employee Provident Fund (EPF) scheme in India, including eligibility, contributions from employers and employees, investment patterns, withdrawal procedures, settlements on retirement or termination, exemptions from tax, and benefits. EPF is a mandatory savings program for employees in India that provides tax-deferred savings and a lump sum payment on retirement. Non-compliance by employers can result in penalties like fines and imprisonment.
The document summarizes the key aspects of the Employees' Provident Fund Scheme in India. The scheme applies to establishments with 20 or more employees and provides for provident fund, pension fund and insurance benefits. It requires monthly contributions from employers and employees and entitles members to benefits such as partial withdrawals for purposes like housing, education, marriage, or full withdrawal upon retirement after age 55.
The document provides an overview of the Employee Provident Fund Act of 1952 in India. It discusses key aspects such as scope, eligibility, contributions, withdrawals, settlements, forms and returns, benefits, and penalties. The EPF is a mandatory savings program for employees in India that aims to provide social security benefits. Both employers and employees contribute equally to the fund at a rate of 12% each, and the accumulated savings can be withdrawn at retirement or under other circumstances.
The Employees Provident Fund and Miscellaneous Provisions Act, 1952 provides for provident funds, pension funds, and insurance for employees in factories and establishments with 20 or more workers. It applies to all of India except Jammu and Kashmir. The key schemes under the Act are the Employees Provident Fund, Employees Pension Scheme, and Employees Deposit Linked Insurance. The Act requires employers to make contributions to funds for employees and provide various benefits like provident fund savings, pension, and death benefits.
The document discusses three key schemes under the Employees' Provident Fund Act of 1952:
1) The Employees Provident Fund Scheme provides retirement benefits including a provident fund and pension funded by equal monthly contributions from employers and employees. It applies to most private establishments with 20 or more employees.
2) The Employees Pension Scheme provides pension benefits to members who retire after 20 years of service or at age 58.
3) The Employees Deposit-Linked Insurance Scheme provides life insurance benefits funded by a 0.5% contribution from employers, providing a ₹600,000 payout to families upon an employee's death while in service.
The Employees Provident Funds & Miscellaneous Provisions Act, 1952 provides retirement benefits to employees in India, including a lump sum amount at retirement and a pension. It applies to establishments with 20 or more employees. The Act established three schemes - Employees' Provident Fund Scheme, Employees' Pension Scheme, and Employees' Deposit Linked Insurance Scheme. It is managed by the Central Board of Trustees for the Provident Fund with representation from central and state governments, employers, and employees.
The Employee Provident Fund (EPF) established in 1952 provides benefits like provident fund, pension, and death benefits to members. Members receive partial contributions from their employers at 12% annually along with guaranteed interest rates set by the government. Upon resignation, members can settle their account to receive their own contributions plus employer contributions and accrued interest.
This document summarizes key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 in India. It applies to establishments with 20 or more employees and can be extended to those with less than 20 by the central government. The appropriate government is the central government for certain establishments and the state government for others. The act covers employees earning less than Rs. 6,500 per month. It is administered by the Central Provident Fund Commissioner and establishes rules around employee and employer contribution rates, interest rates on provident funds, and conditions for withdrawal of funds for purposes like housing, education, illness, and more.
Employees’ provident funds and Miscellaneous Provisions Act, 1952kushnabh chhabra
Useful for industry practitioners and students. Crux of the act has been assembled and presented in plain and lucid manner.
Consists of operational part of the act and can be very handy for auditors as well.
The Payment of Gratuity Act of 1972 requires employers in factories, mines, ports, and other establishments employing 10 or more persons to pay gratuity to their employees. Gratuity is payable when an employee has 5 years of continuous service and is terminated due to superannuation, retirement, death, or disability. Gratuity amount is calculated as 15 days wages for every completed year of service, with a maximum of 3.5 lakhs. Employers must make payment within 30 days of application, and interest is payable for delayed payments. Disputes can be appealed to controlling authorities within time limits defined in the Act.
The Payment of Gratuity Act of 1972 provides a scheme for payment of gratuity to employees in factories, mines, oilfields, plantations, ports, railways, shops or other establishments with 10 or more employees. It requires employers to pay gratuity to eligible employees at the rate of 15 days wages for each completed year of service. The gratuity is payable to employees on superannuation, retirement, resignation or death/disability after 5 years of continuous service. If an employer fails to make payment within 30 days, interest is payable for delayed payment. Disputes over gratuity amounts are resolved by controlling authorities through inquiry and appeals.
The Payment of Gratuity Act, 1972 provides for a mandatory gratuity payment by employers to their employees at the time of their retirement or resignation after a minimum of 5 years of continuous service. The Act applies to shops, establishments, factories and other organizations employing 10 or more persons. It requires employers to determine gratuity amounts payable and make payments within 30 days. In case of disputes, the controlling authority determines the gratuity amount after providing an opportunity to both parties. Employers who fail to comply with the provisions of the Act may be punished with imprisonment and fines.
The Employees* Slate Insurance Act (ESI Act) was enacted with the object of introducing a scheme of health insurance for industrial workers. The scheme envisaged by it is one of compulsory State Insurance providing for certain benefits in the event of sickness, maternity and employment injury to workmen employed in or in connection with the work in factories other than seasonal factories. The ESI Act, which has replaced the Workmen's Compensation
Special thanks to all the people who made and released these awesome resources for free:
Presentation template by SlidesCarnival
Photographs by Unsplash
Backgrounds by SubtlePatterns
Useful for Law students, MBA- HR students, CS Students, Employees , Employer.
I have also mentioned a list of forms generally used during gratuity.
Every body should be aware of do's and don't. Knowledge of your rights makes you powerful.
Application of the Act
When gratuity is payable
Amount of gratuity payable
Forfeiture of gratuity
Obligations and rights of the employer
Compliance under the Act
reference: http://blog.simplycareer.net/2013/06/gratuityact.html
I have also refereed other sites and text books.
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 provides social security to Indian workers. It establishes provident funds, pension funds, and insurance schemes that provide benefits like retirement funds, death benefits, education funds, and medical benefits. The Act applies to establishments with 20 or more employees and sets up contribution requirements for employers and employees. It defines key terms, establishes membership eligibility, and outlines the duties of employers to maintain proper accounts and make required contributions. The Act's schemes provide post-retirement income security and protect workers' families in cases of death, disability, or other hardships.
Employee state insurance act 1948 BenefitsYogesh Pawar
The document outlines the various benefits provided under the Employees' State Insurance Act of 1948 in India. It describes 13 types of benefits provided by the Employees' State Insurance Corporation including medical benefits, sickness benefits, disablement benefits, maternity benefits, dependents' benefits, funeral expenses, rehabilitation allowances, unemployment allowances, and vocational training. For each benefit, it specifies the eligibility criteria, duration of benefits, and payment rates to provide social security to insured employees and their families in cases of sickness, maternity, employment injury or death.
The Workmen's Compensation Act of 1923 was India's first social security law. It established a system to provide compensation to workers who are injured or disabled during the course of their employment. The act applies to hazardous occupations like railways, factories, mines, construction, and transport. It requires employers to pay compensation for work-related injuries and occupational diseases. State governments are responsible for administering the act and appointing commissions to settle disputed claims and revise periodic payments to injured workers or their dependents. The act aimed to provide social security to workers in India's developing industrial sector.
The Minimum Wages Act, 1948 aims to protect unorganized workers from exploitation by mandating minimum wages. Key points:
- It allows the government to set minimum wages for scheduled employments where workers are vulnerable to exploitation. Minimum wages must ensure subsistence as well as efficiency.
- Minimum wages are set based on ethics, not economics, and must be paid regardless of industry capacity. Industries unable to pay minimum wages must shut down.
- The Act defines wages and employees covered. It outlines procedures for fixing and revising minimum wages and ensures payment of minimum wages for overtime, piecework, and incomplete workdays.
- Penalties are prescribed for paying less than minimum wages. Compensation of up
The document is the Payment of Gratuity Act of 1972. It provides a scheme for payment of gratuity to employees in factories, mines, ports and other establishments with 10 or more employees. Some key points:
- Gratuity is payable to employees with 5+ years of continuous service on superannuation, retirement, resignation, death or disablement.
- The maximum gratuity payable is Rs. 10 lakhs as per the latest amendment.
- Employers must obtain insurance from LIC or other insurers to cover their gratuity liability.
- Controlling authorities are appointed to administer the Act.
Employee provident fund and miscellaneous act, 1952NeerajUpreti2
Overview, Applicability, Contribution by Employer and Employees', Benefits and Registration process of Employee provident fund and miscellaneous act, 1952
Employees Provident Fund And MIscellaneous Provisions Act , 1952Mohd Zaid
The Employees Provident Funds Bill having been passed by both the houses of the Parliament received the assent of the president of india on the 4th march 1952.
It came on the statue book as the Employees Provident Funds Act , 1952.
Now it stands as The Employees Provident Funds And Miscellaneous Provisions Act , 1952 ( 19 of 1952 )
The Industrial Disputes Act, 1947 governs industrial relations in India. It defines key terms like strikes, lock-outs, lay-offs, and retrenchment. The Act prohibits illegal strikes and lock-outs and outlines penalties for violations. It establishes authorities to deal with industrial disputes through conciliation, arbitration, and adjudication to promote harmonious relations in workplaces.
The Payment of Bonus act, 1965. this PPT has inclusion recent amendments and is done from the view point of students. If anything has been missed out, do let us know through comments.
ThankYou
The Payment of Bonus Act 1965 aims to provide for the payment of bonus to employees in certain establishments based on profits or productivity. It applies to establishments employing 20 or more persons. Eligible employees must have worked for at least 30 days in an accounting year and earn less than Rs. 3,500 per month. The minimum bonus is 8.33% of salary and the maximum is 20%. Bonus must be paid within 8 months of the accounting year in cash. Employers must maintain registers and file annual returns. Non-compliance can result in fines or imprisonment. Bonus is calculated based on available surplus after accounting for profits, taxes, and other amounts as specified in the Act.
The Payment of Gratuity Act of 1972 outlines rules for gratuity payments in India. It applies to companies with 10 or more employees. Gratuity is payable after 5 years of continuous service and is calculated as 15 days of last drawn wages for each completed year of service. Employers must make payment within 30 days of application or face penalties including interest on late payments. Disputes are handled by a controlling authority and there is a process for appeals.
Dear Seniors & Friends,
Sharing the updated PPT on "Provident Fund & MP Act 1952" of India. Kindly have a look on the Same & Share your valuable feedback & suggestion. If you found any mistake kindly update me for the modification the same.
Regards,
Anshu Shekhar Singh
Mob: 9999 844 355
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 provides social security to industrial workers in India. It establishes provident funds, pension funds, deposit-linked insurance and other benefits for employees of covered organizations with 20 or more workers. All employees earning up to Rs. 6,500 per month must contribute 12% of wages to their provident fund, while employers must contribute 3.67% to provident funds and 8.33% to pension funds, as well as administrative fees. The Act mandates timely contribution payments, form submissions for new/leaving employees, and annual returns to ensure employee social security benefits are properly funded and administered.
Employees’ provident funds and Miscellaneous Provisions Act, 1952kushnabh chhabra
Useful for industry practitioners and students. Crux of the act has been assembled and presented in plain and lucid manner.
Consists of operational part of the act and can be very handy for auditors as well.
The Payment of Gratuity Act of 1972 requires employers in factories, mines, ports, and other establishments employing 10 or more persons to pay gratuity to their employees. Gratuity is payable when an employee has 5 years of continuous service and is terminated due to superannuation, retirement, death, or disability. Gratuity amount is calculated as 15 days wages for every completed year of service, with a maximum of 3.5 lakhs. Employers must make payment within 30 days of application, and interest is payable for delayed payments. Disputes can be appealed to controlling authorities within time limits defined in the Act.
The Payment of Gratuity Act of 1972 provides a scheme for payment of gratuity to employees in factories, mines, oilfields, plantations, ports, railways, shops or other establishments with 10 or more employees. It requires employers to pay gratuity to eligible employees at the rate of 15 days wages for each completed year of service. The gratuity is payable to employees on superannuation, retirement, resignation or death/disability after 5 years of continuous service. If an employer fails to make payment within 30 days, interest is payable for delayed payment. Disputes over gratuity amounts are resolved by controlling authorities through inquiry and appeals.
The Payment of Gratuity Act, 1972 provides for a mandatory gratuity payment by employers to their employees at the time of their retirement or resignation after a minimum of 5 years of continuous service. The Act applies to shops, establishments, factories and other organizations employing 10 or more persons. It requires employers to determine gratuity amounts payable and make payments within 30 days. In case of disputes, the controlling authority determines the gratuity amount after providing an opportunity to both parties. Employers who fail to comply with the provisions of the Act may be punished with imprisonment and fines.
The Employees* Slate Insurance Act (ESI Act) was enacted with the object of introducing a scheme of health insurance for industrial workers. The scheme envisaged by it is one of compulsory State Insurance providing for certain benefits in the event of sickness, maternity and employment injury to workmen employed in or in connection with the work in factories other than seasonal factories. The ESI Act, which has replaced the Workmen's Compensation
Special thanks to all the people who made and released these awesome resources for free:
Presentation template by SlidesCarnival
Photographs by Unsplash
Backgrounds by SubtlePatterns
Useful for Law students, MBA- HR students, CS Students, Employees , Employer.
I have also mentioned a list of forms generally used during gratuity.
Every body should be aware of do's and don't. Knowledge of your rights makes you powerful.
Application of the Act
When gratuity is payable
Amount of gratuity payable
Forfeiture of gratuity
Obligations and rights of the employer
Compliance under the Act
reference: http://blog.simplycareer.net/2013/06/gratuityact.html
I have also refereed other sites and text books.
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 provides social security to Indian workers. It establishes provident funds, pension funds, and insurance schemes that provide benefits like retirement funds, death benefits, education funds, and medical benefits. The Act applies to establishments with 20 or more employees and sets up contribution requirements for employers and employees. It defines key terms, establishes membership eligibility, and outlines the duties of employers to maintain proper accounts and make required contributions. The Act's schemes provide post-retirement income security and protect workers' families in cases of death, disability, or other hardships.
Employee state insurance act 1948 BenefitsYogesh Pawar
The document outlines the various benefits provided under the Employees' State Insurance Act of 1948 in India. It describes 13 types of benefits provided by the Employees' State Insurance Corporation including medical benefits, sickness benefits, disablement benefits, maternity benefits, dependents' benefits, funeral expenses, rehabilitation allowances, unemployment allowances, and vocational training. For each benefit, it specifies the eligibility criteria, duration of benefits, and payment rates to provide social security to insured employees and their families in cases of sickness, maternity, employment injury or death.
The Workmen's Compensation Act of 1923 was India's first social security law. It established a system to provide compensation to workers who are injured or disabled during the course of their employment. The act applies to hazardous occupations like railways, factories, mines, construction, and transport. It requires employers to pay compensation for work-related injuries and occupational diseases. State governments are responsible for administering the act and appointing commissions to settle disputed claims and revise periodic payments to injured workers or their dependents. The act aimed to provide social security to workers in India's developing industrial sector.
The Minimum Wages Act, 1948 aims to protect unorganized workers from exploitation by mandating minimum wages. Key points:
- It allows the government to set minimum wages for scheduled employments where workers are vulnerable to exploitation. Minimum wages must ensure subsistence as well as efficiency.
- Minimum wages are set based on ethics, not economics, and must be paid regardless of industry capacity. Industries unable to pay minimum wages must shut down.
- The Act defines wages and employees covered. It outlines procedures for fixing and revising minimum wages and ensures payment of minimum wages for overtime, piecework, and incomplete workdays.
- Penalties are prescribed for paying less than minimum wages. Compensation of up
The document is the Payment of Gratuity Act of 1972. It provides a scheme for payment of gratuity to employees in factories, mines, ports and other establishments with 10 or more employees. Some key points:
- Gratuity is payable to employees with 5+ years of continuous service on superannuation, retirement, resignation, death or disablement.
- The maximum gratuity payable is Rs. 10 lakhs as per the latest amendment.
- Employers must obtain insurance from LIC or other insurers to cover their gratuity liability.
- Controlling authorities are appointed to administer the Act.
Employee provident fund and miscellaneous act, 1952NeerajUpreti2
Overview, Applicability, Contribution by Employer and Employees', Benefits and Registration process of Employee provident fund and miscellaneous act, 1952
Employees Provident Fund And MIscellaneous Provisions Act , 1952Mohd Zaid
The Employees Provident Funds Bill having been passed by both the houses of the Parliament received the assent of the president of india on the 4th march 1952.
It came on the statue book as the Employees Provident Funds Act , 1952.
Now it stands as The Employees Provident Funds And Miscellaneous Provisions Act , 1952 ( 19 of 1952 )
The Industrial Disputes Act, 1947 governs industrial relations in India. It defines key terms like strikes, lock-outs, lay-offs, and retrenchment. The Act prohibits illegal strikes and lock-outs and outlines penalties for violations. It establishes authorities to deal with industrial disputes through conciliation, arbitration, and adjudication to promote harmonious relations in workplaces.
The Payment of Bonus act, 1965. this PPT has inclusion recent amendments and is done from the view point of students. If anything has been missed out, do let us know through comments.
ThankYou
The Payment of Bonus Act 1965 aims to provide for the payment of bonus to employees in certain establishments based on profits or productivity. It applies to establishments employing 20 or more persons. Eligible employees must have worked for at least 30 days in an accounting year and earn less than Rs. 3,500 per month. The minimum bonus is 8.33% of salary and the maximum is 20%. Bonus must be paid within 8 months of the accounting year in cash. Employers must maintain registers and file annual returns. Non-compliance can result in fines or imprisonment. Bonus is calculated based on available surplus after accounting for profits, taxes, and other amounts as specified in the Act.
The Payment of Gratuity Act of 1972 outlines rules for gratuity payments in India. It applies to companies with 10 or more employees. Gratuity is payable after 5 years of continuous service and is calculated as 15 days of last drawn wages for each completed year of service. Employers must make payment within 30 days of application or face penalties including interest on late payments. Disputes are handled by a controlling authority and there is a process for appeals.
Dear Seniors & Friends,
Sharing the updated PPT on "Provident Fund & MP Act 1952" of India. Kindly have a look on the Same & Share your valuable feedback & suggestion. If you found any mistake kindly update me for the modification the same.
Regards,
Anshu Shekhar Singh
Mob: 9999 844 355
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 provides social security to industrial workers in India. It establishes provident funds, pension funds, deposit-linked insurance and other benefits for employees of covered organizations with 20 or more workers. All employees earning up to Rs. 6,500 per month must contribute 12% of wages to their provident fund, while employers must contribute 3.67% to provident funds and 8.33% to pension funds, as well as administrative fees. The Act mandates timely contribution payments, form submissions for new/leaving employees, and annual returns to ensure employee social security benefits are properly funded and administered.
The document discusses the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 which provides social security to industrial workers in India including provident fund benefits, pension benefits, and family pension benefits. The Act applies to factories with 20 or more employees. It established the Employees' Provident Fund Scheme in 1952, the Employees' Pension Scheme in 1995, and the Employees' Deposit-Linked Insurance Scheme in 1976. These schemes provide retirement benefits like provident fund, pension, and life insurance respectively, funded by mandatory contributions from employers and employees.
The document summarizes the key aspects of the Employees Provident Fund Act of 1991 in Malaysia, including its objectives to provide financial security for retirement, important definitions, employer and employee contribution requirements at a rate of 12% and 11% of wages respectively, and circumstances for withdrawal of contributions such as upon reaching age 55, death, or permanent incapacity. Employers have a duty to register with the EPF and pay contributions on time, with penalties for non-compliance. Unclaimed contributions refer to savings of members aged 65+ who have not contributed or withdrawn for over 10 years.
Employee provident fund & miscellaneous act 1952 abhishek nagreAbhishek Nagre
The document summarizes the key aspects of the Employees' Provident Fund Act of 1952 in India. It discusses that the act established three social security schemes - Employees' Provident Fund, Pension Scheme, and Insurance Scheme. It is managed by the Employees' Provident Fund Organization of India, a statutory body under the Ministry of Labor. The organization has over INR 5 lakh crore in assets under management and covers millions of beneficiaries across India.
The document summarizes the Employees Provident Fund & Miscellaneous Provisions Act of 1952 which establishes provident funds for employees. It covers the Employees Provident Fund Scheme, Employees Pension Scheme of 1995, and Employees Deposit Linked Insurance Scheme of 1976. The schemes provide retirement benefits like lump sums and pensions. Employers and employees contribute 12% each of wages to the provident fund. Appeals can be made to the Employees Provident Fund Appellate Tribunal.
I came across employees who had many queries about their EPF and lacks basic idea which they should have. Idea about EPF can help investment plans as well.
The Employees Provident Funds and Miscellaneous Provisions Act, 1952. Harshali Kotekar
The document summarizes key aspects of the Employees Provident Funds and Miscellaneous Provisions Act of 1952 and related acts and schemes in India. It outlines compulsory and optional coverage, benefits such as pension and insurance, administration through a central board of trustees, obligations of employers, and penalties for non-compliance. Exemptions may be granted by the central government under certain conditions.
The Employees State Insurance Act, 1948 provides for certain benefits to employees in case of sickness, maternity and injury during employment. The act applies to all factories and shops employing 20 or more persons. It does not apply to seasonal factories, mines, railways or government establishments. The act authorizes the Employees State Insurance Corporation to promote health and welfare of insured employees. It provides various benefits like sickness benefit, maternity benefit, disablement benefit, dependents benefit and medical benefit to insured employees. Employers are required to pay contributions towards these benefits at specified rates.
Conference Barcelona 2011 “Connecting people” is the 9th Annual General Meeting and Conference of the European Passengers' Federation
Date: March 12th: 2011. The events will take place in Museu Picasso, carrer de Montcada,15-23, Barcelona, Spain
This document provides an overview of the Eclipse Process Framework (EPF) Composer tool. It includes sections on downloading and installing EPF Composer, downloading method content from various sources, an introduction to key concepts and capabilities of EPF Composer, tutorials for using EPF Composer to explore, author, and publish method content, and explanations of key concepts underlying the EPF methodology framework.
OBJECTIVE :
1. To Provide for fixing minimum rates of wages in certain employments.
2. The provision of the act are intended to achieve the object of doing social justice to the worker employed in the scheduled employment by prescribing minimum rate of wages for them.
3. To achieve to prevent exploitation of labour & for that purpose the authorities under the act have been empowered to take step to prescribe minimum rate of wages in the scheduled industries.
MINIMUM RATE OF WAGE:
The minimum rates of wages may be fixed for different scheduled employments, different classes of work, in the same scheduled employments, adults, adolescents, children & apprentices & for different localities.
The Act is being implemented by the Central & State Government , & such as both are empowered to frame rules.
Minimum rate of the wages fixed or revised consists of the following:-
a basic rate of wages & a special allowance i.e. cost of living allowance;
a basic rate of wages with or without cost of living allowance & cash value of supplies of essential commodities;
an all inclusive rate, i.e. basic rate, cost of living allowance & cash value of concessions.
The Government may fix the minimum rates of wages either by the hour, day, month or by such large wage-period as may be prescribed which may be revised at intervals & reviewed, if felt necessary.
The employer must pay every employee wages so fixed as notified by the Government.
The Employees' Provident Funds and Miscellaneous Provisions Act defines "basic wages" as all emoluments earned by an employee through work, excluding certain cash allowances and presents from employers. The Act defines an "employee" broadly as any person employed for wages, including contract workers.
The Act establishes three mandatory contribution schemes: the Employees' Provident Fund (EPF) with a 12% employee and 3.67% employer contribution, the Employees' Deposit-Linked Insurance Scheme with a 0.5% employer contribution, and the Employees' Pension Scheme with an 8.33% employer contribution. EPF withdrawal is only allowed under certain circumstances like retirement, unemployment, or death.
The document summarizes the Employees' Provident Fund Scheme in India. It is a mandatory retirement benefits scheme for salaried employees earning up to Rs. 6,500 per month. Both employees and employers contribute 12% of wages each month to the fund, of which 8.33% of the employer contribution goes to the Employee Pension Scheme. Employees can take advances or withdraw funds for approved purposes like housing, education, or medical expenses. On retirement after 10 years of service, members are eligible to receive a monthly pension from the Employee Pension Scheme based on their years of contributions and wages.
The document provides an overview and summary of the Employees' Pension Scheme, 1995 in India. Some key points:
- It was implemented in 1995 to replace the previous Employees' Family Pension Scheme of 1971.
- It covers over 3 lakh establishments with over 2 crore members and 8.5 lakh beneficiaries including members, pensioners, and dependents.
- The scheme is managed by the Employees' Provident Fund Organisation under the Ministry of Labour.
- 8.33% of an employee's salary is contributed to the pension fund by the employer, and the central government contributes an additional 1.16%.
- The scheme provides pension and other benefits to members and their families
Food loss and waste accounts for approximately one third of all food produced for human consumption globally each year, equivalent to 1.3 billion tonnes of edible food. It is responsible for 8% of global greenhouse gas emissions and costs nearly $1 trillion annually. Reducing food loss and waste by just 25% could feed over 800 million hungry people worldwide.
The government will launch a unified web portal called LIN (Labour Identification Number) in October 2014 to simplify business regulations related to labour inspections. LIN will assign each employer a unique identification number after registering on the portal. It will allow enforcement agencies to upload inspection reports and employers to file single, harmonized annual returns. The portal is intended to increase transparency and accountability for various agencies that conduct labour inspections under the Labour Ministry.
The document provides information about the Employees' Provident Funds & Miscellaneous Provisions Act of 1952. It discusses the three schemes operated under the act: provident fund, pension fund, and insurance fund. It outlines contribution rates for employers and employees and coverage details. Key points covered include registration requirements, collection of contributions, compliance duties of employers, and services provided to members. Challenges in implementation are also summarized.
This document outlines the major benefits provided under the Employees' Provident Fund (EPF) in India, including provident fund benefits, pension benefits, and death benefits. For provident fund benefits, both employers and employees contribute 12% each to the employee's fund. Members can withdraw funds for financial needs and get back contributions upon resignation. Pension benefits include lifetime pension for members and families. Death benefits provide funds to families or nominees upon death.
The document summarizes the key aspects of The Employee's Provident Fund Act of 1952 in India. It discusses that the Act established a mandatory contributory fund to provide financial security to employees after retirement or for dependents in case of death. Both the employer and employee must contribute 12% of wages each month, with the employer contribution split between the provident fund, pension fund, and insurance scheme. The document outlines eligibility, benefits like tax-free interest and withdrawals, nomination processes, and roles of employers and employees.
The Employees Provident Act,1952.power point presentationpptxshwethaGY3
The document discusses the key aspects of The Employee's Provident Fund Act of 1952 in India. It establishes a mandatory contributory provident fund scheme for employees in organized sectors and applies to establishments with 10 or more employees. Under the Act, both employers and employees must contribute 12% of wages each month to a provident fund account. The contributions provide benefits such as partial withdrawals, pension plans, life insurance coverage, and a lump sum payment at retirement or termination of employment. The Act aims to ensure financial security for employees after retirement or for dependents in case of death.
EPF ACT 1952 act of employee provident fundssusere1704e
The document discusses the key aspects of the Employees' Provident Fund Act of 1952 in India. It outlines the roles and responsibilities of both employers and employees regarding mandatory contributions to provident funds for employees. The main points covered include eligibility criteria for provident fund membership, how contributions are calculated between employers and employees, benefits provided like advances/withdrawals and interest paid, and important forms and monthly/annual returns required. The document also discusses the Employees Pension Scheme of 1995 and Employees' Deposit-Linked Insurance Scheme of 1976 that are linked to the main provident fund act.
The document discusses emerging issues related to the Employees' Provident Fund (EPF) in India, including statutory compliance requirements, contribution rates, withdrawal rules, benefits provided including pension and insurance, and penalties for non-compliance. It also briefly mentions international social security agreements that India has entered into.
The document summarizes the key aspects of the Employees Provident Funds & Miscellaneous Provision Act 1952 in India. It discusses the establishment of provident funds for employees in factories and other organizations. The Act provides for three benefit schemes - provident fund, pension fund, and deposit-linked insurance fund. It outlines the roles and responsibilities of the Board of Trustees, Commissioners, and other administrative bodies involved in managing the funds. The Act also details contribution rates, eligibility criteria, benefits available, and recent amendments to enhance access to healthcare benefits.
This document provides an overview of the Employee Provident Fund (EPF) scheme in India. It discusses key aspects such as eligibility, contributions, benefits, withdrawals, loans, and tax treatment. The EPF is a mandatory savings scheme where equal contributions are made by employers and employees. It provides benefits including a lump-sum payment on retirement, pension through the Employees' Pension Scheme, and life insurance through the Employees' Deposit Linked Insurance Scheme.
HR compliance involves defining policies and procedures to ensure compliance with applicable employment laws and regulations. It is essential for organizations to understand HR compliance to operate successfully in today's legal environment. HR compliance should establish clear behaviors for both individuals and groups to follow the organization's policies and applicable laws. The document then provides an overview of various types of statutory HR compliances in India such as the Employees' Provident Funds and Miscellaneous Provisions Act, Payment of Gratuity Act, Professional Tax, Employee State Insurance Corporation, and Labour Welfare Fund. It discusses the importance, advantages, and risks of compliance and non-compliance.
The document discusses the Employees' Provident Fund (EPF) scheme in India. It provides details on the scope, eligibility, contributions, investment patterns, withdrawals, settlements and benefits of EPF. Key points include: EPF is a mandatory retirement benefit plan where equal contributions are made by the employer and employee. Contribution amounts and rates are specified. Members can withdraw partial or full amounts under certain conditions like retirement, job change or unemployment. The interest rate on EPF is decided annually by the government.
The document provides definitions and information related to the Employees' Provident Fund and Miscellaneous Provisions Act of 1952 in India. It defines key terms like employer, employee, factory, and member. It outlines eligibility criteria for EPF membership. Both employee and employer contributions to the fund are discussed, including contribution rates and how the employer amount is distributed. Interest rates, withdrawal rules, and benefits of the EPF scheme are summarized. The document also notes that all departments and branches of an establishment are to be treated as part of the same establishment under the Act. It briefly discusses the constitution and terms of the Central Board and potential State Boards that oversee the fund.
The document discusses the key aspects of the Employee's Provident Fund Act of 1952 in India. It outlines the employer and employee roles and responsibilities regarding contributions to the provident fund. It also describes the benefits provided by the provident fund, including lump sum payments on retirement, advances for certain needs, and tax benefits. In addition, it discusses the linked Employees Pension Scheme of 1995 and Employees Deposit-Linked Insurance Scheme of 1976 that provide additional post-retirement income and life insurance benefits, respectively.
The document discusses the Employees' Provident Fund (EPF) scheme in India. The EPF is a mandatory savings scheme where both employers and employees contribute 12% of wages each month up to a maximum wage ceiling of Rs. 15,000. The purpose is to help employees save for retirement or periods of unemployment. There are different types of provident funds like statutory, public, and recognized funds which have different tax treatment on contributions and withdrawals. Employees can make partial withdrawals from their EPF for approved purposes like marriage, education, home construction, medical needs, and repayment of loans. The key benefit is that it provides long-term financial security and tax-free savings for retirement or unforeseen circumstances.
This document provides an overview of the Employee Provident Fund (EPF) in India. EPF is a mandatory savings program for employees in the public and private sectors that provides benefits at retirement. It is managed by the Employees' Provident Fund Organization (EPFO). Both employers and employees must contribute 12% of the employee's salary to their EPF account each month. Over an employee's career, these contributions can grow significantly with interest and compounding, providing them a lump sum for retirement. The document outlines eligibility requirements, contribution rates, withdrawal terms, exemptions and benefits of the EPF program.
This document summarizes various types of old age and retirement benefits provided to employees in India, including provident fund, pension, deposit linked insurance, medical benefits, and gratuity. Provident fund requires a 12% contribution from employees' basic wages each month and can be withdrawn after age 54. Pension provides family pension and life insurance benefits based on employee contributions. Deposit linked insurance provides additional insurance payouts for employees who die in service. Medical benefits cover retired employees' medical expenses. Gratuity provides a lump sum payment after 5 years of continuous service based on 15 days wages for each year of service.
This document provides an overview of auditing provident fund trusts in India. It discusses the relevant statutes, the formation and types of provident fund trusts, contributions and investments, audit procedures, settlements, advances, and recent changes. The key points are: provident funds are mandatory retirement plans with equal employer-employee contributions; there are covered trusts under the Employees' Provident Funds & Miscellaneous Provisions Act and excluded trusts approved under the Income Tax Act; and audit procedures include verifying contributions, investments, interest credited, advances given, and compliance with regulations.
1. The Employees' Provident Fund Act 1952 established 3 schemes - the Employees' Provident Fund Scheme, the Employees' Pension Scheme, and the Employees' Deposit Linked Insurance Scheme.
2. The Act applies to establishments with 20 or more employees and seeks to provide benefits like provident funds, family pension, and deposit-linked insurance to employees.
3. Key aspects include mandatory contributions from employers and employees, withdrawal eligibility after age 55 or incapacity, and protections against attachment of funds by courts. Administration is overseen by central and state boards with representatives of governments, employers, and employees.
The document discusses the Employees' Provident Fund Act of 1952 which establishes a mandatory contributory pension fund for employees in India. The key points discussed are:
- The act created a provident fund to provide financial security for employees upon retirement or for dependents in case of death. The Employee Provident Fund Organization (EPFO) manages the fund.
- The fund consists of the Employees' Provident Fund (EPF), Employees' Pension Scheme (EPS), and Employees' Deposit-Linked Insurance (EDLI) scheme.
- 12% of an employee's salary is contributed to EPF each month by the employee and employer. A portion also goes to EPS and EDLI to provide pension
The Employees' Provident Funds & Miscellaneous Provisions Act was established in 1952 to provide financial security and stability for employees in India upon retirement. The Act requires employers with more than 20 employees to make contributions amounting to 12% of an employee's salary to their provident fund account, as well as pension and insurance funds. Employees can withdraw partial funds for needs like housing or education and full funds upon retirement at age 54. The law aims to help employees save during employment for future financial needs.
This document provides an overview of the Employees' Provident Fund Act of 1952 in India. The key points are:
- The Act established a compulsory contributory provident fund for employees and their dependents to support retirement or dependents in case of early death.
- It applies to any company employing 10 or more people in specified industries. Both employer and employee must contribute 12% of wages each month to the provident fund.
- Benefits include withdrawing partial funds for needs like housing, education or medical expenses. The full amount is paid out upon retirement, permanent incapacity, termination or permanent migration.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
2. Introduction
Salary consists of two parts i.e. earnings & deductions
Provident Fund is one of the statutory deduction done by
the employer at the time of salary payment
Provident Fund is governed by the Employee’s Provident
Fund Act 1952
2
3. Introduction to EPF
• Provident Fund has come into force to give better future to
employees on their retirement & his dependants in case of
his death during employment
• The Employees Provident Funds Act 1952 is compulsory
contributory fund for the future of an employee after
retirement or for his dependents in case of his early death
• Act is applicable to all states of India except Jammu and
Kashmir
3
4. Applicability of the Act
To every factory engaged in any industry specified in schedule 1 to the act
and employing 20 or more persons.
To every other establishment employing 20 or more persons specified but the
central government in this behalf.
Any establishment to which the act applies shall continue to be governed but
the act even if the number of persons employed therein at any time falls below
20.
Where a factory is closed down for good and only four security men are
retained for keeping a watch over the assets and properties of the
establishment, the act would not continue to be applicable to the factory.
5. Eligibility & Entitlement
• Every employee employed directly / through a contractor who is
in receipt of wages are eligible to become a member of the fund
• Irrespective of permanent / probationary employees, all employees
are eligible for joining the PF scheme from the date of joining the
service
• Minimum 10% of the basic pay for establishments employed less
than 10 persons; sick industries declared by necessary authority;
Jute, Beedi , Brick, Coir & Guar Gum Industries / Factories
• Other industries maximum 12% of the basic pay
• A member can contribute voluntarily more than statutorily
prescribed rate (up to 100% of basic salary) which will be
transferred to his PF A/c
5
6. Benefits
• Employees can take advances / withdraw the PF in case of retirement,
medical care, housing, family obligation, education of children & financing
of life Insurance Polices
• Upto 90% of the PF amount can be withdrawn at the age of 54 years or
before one year of actual retirement
• PF amount of the deceased member is payable to nominees / legal heirs
• Equal contribution by the employer
• present interest rate @ 8.5%
• PF A/c can be transferred if any member changes from one establishment to
other where the PF Scheme is applicable
6
7. Calculation
• 12% contribution by the employee is directly transferred to his Provident
Fund A/c
• 12% is contributed by the employer out of which 8.33% is credited to
Employee Pension Fund and the balance 3.67% is transferred to PF A/c of
the employee
• 1.10% Administration charges on total wages are payable by the employer
• 0.50% EDLI calculated on total EDLI slab (Rs. 6500) wages and payable
by the employer towards EDLI fund
• 0.01% EDLI Administration charges calculated on total EDLI slab wages
are payable by the employer
7
8. Calculation of employees provident fund
1. Let us calculate the contribution of an employee who is getting basic
salary of rs.3500 .
Contribution towards Calculation Amount
EPF Employees share 3500*12% 420
EPS Employer share 3500*8.33% 292
EPF Employer Share 3500*3.67% 128
EDLI Charges 3500*0.5% 17.5
EPF Admin Charges 3500*1.1% 38.5
EDLI Admin Charges 3500*0.01% 0.35(round up to rs.1)
9. Calculation of employees provident fund
2.If an employee (having EPF benefit) drawing a salary of 10,000
(Basic + DA) , then what is the calculation for monthly remittance
1) Employee Contribution (12% of 10000) : 1,200.00
2) Employer Contribution- Pension (8.33 %) : 541.00 (limited to 6500 )
3) Employer Contribution-PF (balance ) : 659.00 ( 1200 - 541 )
TOTAL : 2,400.00
10. Recovery of moneys
If any dispute arises regarding the applicability
of the act to an establishment or as to the amount
of money due from any employer under the act or any
scheme, the central provident fund commissioner, any
additional central provident fund commissioner , any
deputy provident fund commissioner, any regional provident
fund commissioner, or any assistant provident fund commissioner
may decide the same by holding an enquiry.
If a employer pays any contribution or administrative charges for or
on behalf of a contractor. Then, he can recover the same from the
contractor either by deduction from any amount payable to the
contractor under any contract or as a debt payable by the contractor.
The contractor can, then recover the employee’s contribution from the
wages of the employee.
11. Interest
• Interest is credited to the members PF A/c
on monthly running balance.
• The present rate of interest is 8.5%
Nomination
• The member can nominate other person /
persons to receive the Fund amount in the
event of his death.
• The nomination details provided by the
members are maintained at the Regional
Provident Fund Office for use in the event
of death of the member.
11
12. OFFENCES
If any person, for the purpose of avoiding any payment to be made under the
act or the scheme, knowingly makes any false statement or false representation,
he would be punished with imprisonment up to one year, or with fine up to
RS.5000 or with both.
If any person makes default in complying with any other provision of the act or
any condition for exemption from any scheme, he would be published with
imprisonment up to six months but which shall not be less than 1 month and with
fine up to 5000 Rs or with both.
If any person convicted of an offence under the act or the scheme commits it
again, he would be punished with imprisonment up to 5 yrs but which shall not
be less than two yrs, plus fine up to Rs. 25,000 s.14 and 14(AA).
13. Advances / Withdrawals
• Purchase of site for construction of House / purchase of
flat
• Additions / alterations / improvements to the house
• Repayment of loan
• Hospitalization for more than a month / major surgical
operation / suffering from TB, Leprosy, Paralysis, Cancer,
Heart ailment etc
• Marriage of self / son / daughter / sister / brother
• Education of son / daughter
• Physically handicapped member for purchasing an
equipment to minimize the hardship due to handicap
13
14. Full Settlement
• PF A/c settled immediately under the
circumstances;
– Retirement after 58 years
– Retirement on account of permanent
incapacity
– Termination of service on retrenchment
– Voluntary Retirement Scheme (VRS)
– Permanent migration from India to settle
abroad / taking employment
– For female members leaving service for
getting married
• PF A/c settled after two months under the
circumstances;
– Resignation from the services
14
15. Online Provident Fund
• Provident Fund online payment has been devised for
the companies and the general masses so that they can
easily know the Provident Fund online status which is also at times referred
to as Provident Fund online scheme.
• Provident Fund online status is maintained by the Government of India and
hence you can blindly rely upon the website that is mentioned below for
knowing the Provident Fund online scheme.
http://www.epfindia.com/
•Only with one click to this EPFO site, you would be able to get complete
info about almost anything related to your Provident Fund account.
•The best thing about this is that you are allowed to interact with the
customer service agents who would be able to help you with any of your
problems that are related to Provident Fund in some way or the other.
17. Application
• EDLI scheme is compulsory for all the existing members who become
members of the PF Scheme.
• Life insurance benefit (death coverage) of the employee is available under this
scheme while in service.
Calculation
• EDLI is calculated on EDLI slab – Rs. 6500/-
• 0.50% EDLI calculated on total EDLI slab (Rs. 6500) wages and transferred
to EDLI fund
• 0.01% EDLI Administration charges calculated on total EDLI wages
• EDLI / administration charges are payable by the employer
Eligible
• Person who is eligible to receive PF dues of deceased member who died while
in service is only eligible to receive EDLI fund
17
19. Introduction
To give long term protection / financial security to employee upon retirement
and his family in case of his pre-mature death, family pension scheme has
come into force by diverting 8.33% contribution made by employer towards
PF scheme.
Application
Scheme is compulsory for all the existing members who become members of
the Employees Provident Fund Scheme
Eligible
Monthly pension to employees on retirement
Widows on death of the member
Children of the member below 25 years age
Monthly pension to members upon permanent total disablement during service
19