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.
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 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.
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.
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 document discusses statutory requirements for contract labour and the Employees' Provident Fund Act.
It outlines the applicability and registration/licensing process for the Contract Labour Act, obligations of principal employers and contractors, and welfare facilities that must be provided.
It also summarizes key aspects of the Employees' Provident Fund Act including contribution rates, roles of employers and employees, benefits like pension and insurance schemes, and required forms and monthly/annual returns.
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 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 summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 in India. The Act aims to provide social security to industrial workers through retirement benefits like provident fund, pension, insurance, and benefits in contingencies like retrenchment or closure. It applies to establishments with 20 or more employees. The key schemes under the Act are the Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995, and Employees' Deposit-Linked Insurance Scheme 1976. The schemes require monthly contributions from employers and employees, with benefits like pension, insurance payouts for family. Regular compliances like monthly returns and annual reconciliations are also required under the Act.
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 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.
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.
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 document discusses statutory requirements for contract labour and the Employees' Provident Fund Act.
It outlines the applicability and registration/licensing process for the Contract Labour Act, obligations of principal employers and contractors, and welfare facilities that must be provided.
It also summarizes key aspects of the Employees' Provident Fund Act including contribution rates, roles of employers and employees, benefits like pension and insurance schemes, and required forms and monthly/annual returns.
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 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 summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 in India. The Act aims to provide social security to industrial workers through retirement benefits like provident fund, pension, insurance, and benefits in contingencies like retrenchment or closure. It applies to establishments with 20 or more employees. The key schemes under the Act are the Employees' Provident Fund Scheme 1952, Employees' Pension Scheme 1995, and Employees' Deposit-Linked Insurance Scheme 1976. The schemes require monthly contributions from employers and employees, with benefits like pension, insurance payouts for family. Regular compliances like monthly returns and annual reconciliations are also required under the Act.
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.
This document provides an overview of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The key points covered include:
- The objective of the Act is to provide social security and retirement benefits to industrial workers.
- It applies to factories with 20 or more employees and establishes provident funds, pension schemes, insurance benefits and processes for termination payments.
- The Employees' Provident Fund Scheme of 1952 requires monthly contributions of 12% of wages by employees and employers. The Pension Scheme of 1995 requires an 8.33% contribution from employers.
- Other schemes include the Employees' Deposit-Linked Insurance Scheme of 1976 which provides life insurance benefits funded by a 0.5%
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 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
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.
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.
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.
The document discusses various labor laws and compliance requirements in India including the Contract Labour (Regulation & Abolition) Act of 1970, Employee's Provident Fund Act of 1952, and Employee's Pension Scheme of 1995. It provides details on registration and licensing procedures for contractors, obligations of principal employers and contractors, welfare facilities for contract labor, applicable forms and registers that need to be maintained, and monthly and annual statutory returns that must be filed. It also summarizes key provisions regarding contribution rates for provident fund, pension fund, and insurance schemes as well as timelines for filing different statutory deposits and returns.
The document summarizes key compliance requirements under the Contract Labour (Regulation & Abolition) Act 1970 and the Employee's Provident Fund Act 1952. It outlines obligations for principal employers and contractors, such as obtaining licenses, maintaining registers, and filing monthly and annual returns. It also describes welfare facilities that must be provided to contract labour and how other labour laws apply. The Employee's Provident Fund Act section details contribution rates, employer and employee roles, and forms required for claiming benefits under the PF, pension, and insurance schemes.
The document discusses the key aspects of The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 in India. It was enacted to provide social security to industrial workers through benefits like provident fund, pension, insurance, etc. The Act applies to establishments with 20 or more employees and covers benefits in contingencies like retirement, closure, incapacity. It includes the Employees' Provident Fund Scheme (mandatory 12% contributions from employees and employers up to Rs. 6,500 salary), Employees' Pension Scheme (8.33% employer contribution), and Employees' Deposit-Linked Insurance Scheme (0.5% employer contribution). The document also outlines compliance requirements under the Act.
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.
The document summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The act provides social security to industrial workers in the form of provident funds, pension plans, and insurance benefits. It applies to factories and establishments with 20 or more employees. The act established schemes like the Employees' Provident Fund Scheme (EPF), Employees' Pension Scheme (EPS), and Employees' Deposit-Linked Insurance Scheme (EDLI) that provide retirement benefits like provident funds and pensions as well as life insurance benefits. The document outlines contribution rates, eligibility criteria, and compliance requirements for these schemes under the act.
The document summarizes the key provisions and procedures related to India's Employees' Provident Funds And Miscellaneous Provisions Act, 1952. It outlines who the act applies to, contribution rates and eligibility, types of benefits including provident fund, pension fund and insurance, procedures for withdrawals and transfers, common problems faced and their remedies.
The Employee's Provident Fund And Miscellaneous Provisions Act of 1952 created provident funds, pension funds, and deposit-linked insurance funds for employees of factories and other establishments. The Act defines employees as anyone receiving wages from an employer, including contractors, and employers as those with control over an establishment. It requires establishments with 20 or more employees to enroll those employees in the funds, deducting contributions from wages at a rate of 12% of emoluments. The funds provide benefits like withdrawals, advances, pensions, and death insurance.
This document provides information about the Employees' Provident Fund Organization (EPFO) Delhi region, including frequently asked questions about provident fund schemes. Some key details:
- EPFO manages provident fund, pension and insurance schemes for employees in India under the Employees' Provident Funds and Miscellaneous Provisions Act of 1952.
- The document answers 15 frequently asked questions about eligibility and benefits under the Employees' Pension Scheme of 1995.
- It provides details on nomination procedures, minimum service period requirements, and who benefits can be paid to if a member dies.
This Blog written by me attempts to discuss the features and Benefits of Employee Provident fund Scheme as a Fixed Savings instrument in terms of Applicability, Contributions, Return, Risks, Lock-in period, Liquidity, Tax Benefits, Voluntary PF and highlights the recent relief measures that the government has announced considering the current COVID-19 Pandemic
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.
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
This document discusses change management in organizations. It defines change management as an alteration in an organization's design, strategy, or processes to influence members to behave differently. The document outlines the scope of change management, including understanding changes in individuals and organizations. It describes different types of changes organizations face, both planned and unplanned, as well as internal and external forces driving change. The document also discusses stakeholders' perspectives in change processes, critical elements of change management, and reasons why changes may fail within organizations.
This chapter discusses key aspects of designing effective training systems. It outlines critical issues in training like learning, pre-training work, and post-training work. It describes the tasks of a training system and the dynamics of developing training systems through six activities. It also discusses the importance of the training environment and using action research with a feedback model to improve training, with trainer-researchers playing a key role.
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.
This document provides an overview of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The key points covered include:
- The objective of the Act is to provide social security and retirement benefits to industrial workers.
- It applies to factories with 20 or more employees and establishes provident funds, pension schemes, insurance benefits and processes for termination payments.
- The Employees' Provident Fund Scheme of 1952 requires monthly contributions of 12% of wages by employees and employers. The Pension Scheme of 1995 requires an 8.33% contribution from employers.
- Other schemes include the Employees' Deposit-Linked Insurance Scheme of 1976 which provides life insurance benefits funded by a 0.5%
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 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
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.
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.
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.
The document discusses various labor laws and compliance requirements in India including the Contract Labour (Regulation & Abolition) Act of 1970, Employee's Provident Fund Act of 1952, and Employee's Pension Scheme of 1995. It provides details on registration and licensing procedures for contractors, obligations of principal employers and contractors, welfare facilities for contract labor, applicable forms and registers that need to be maintained, and monthly and annual statutory returns that must be filed. It also summarizes key provisions regarding contribution rates for provident fund, pension fund, and insurance schemes as well as timelines for filing different statutory deposits and returns.
The document summarizes key compliance requirements under the Contract Labour (Regulation & Abolition) Act 1970 and the Employee's Provident Fund Act 1952. It outlines obligations for principal employers and contractors, such as obtaining licenses, maintaining registers, and filing monthly and annual returns. It also describes welfare facilities that must be provided to contract labour and how other labour laws apply. The Employee's Provident Fund Act section details contribution rates, employer and employee roles, and forms required for claiming benefits under the PF, pension, and insurance schemes.
The document discusses the key aspects of The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 in India. It was enacted to provide social security to industrial workers through benefits like provident fund, pension, insurance, etc. The Act applies to establishments with 20 or more employees and covers benefits in contingencies like retirement, closure, incapacity. It includes the Employees' Provident Fund Scheme (mandatory 12% contributions from employees and employers up to Rs. 6,500 salary), Employees' Pension Scheme (8.33% employer contribution), and Employees' Deposit-Linked Insurance Scheme (0.5% employer contribution). The document also outlines compliance requirements under the Act.
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.
The document summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The act provides social security to industrial workers in the form of provident funds, pension plans, and insurance benefits. It applies to factories and establishments with 20 or more employees. The act established schemes like the Employees' Provident Fund Scheme (EPF), Employees' Pension Scheme (EPS), and Employees' Deposit-Linked Insurance Scheme (EDLI) that provide retirement benefits like provident funds and pensions as well as life insurance benefits. The document outlines contribution rates, eligibility criteria, and compliance requirements for these schemes under the act.
The document summarizes the key provisions and procedures related to India's Employees' Provident Funds And Miscellaneous Provisions Act, 1952. It outlines who the act applies to, contribution rates and eligibility, types of benefits including provident fund, pension fund and insurance, procedures for withdrawals and transfers, common problems faced and their remedies.
The Employee's Provident Fund And Miscellaneous Provisions Act of 1952 created provident funds, pension funds, and deposit-linked insurance funds for employees of factories and other establishments. The Act defines employees as anyone receiving wages from an employer, including contractors, and employers as those with control over an establishment. It requires establishments with 20 or more employees to enroll those employees in the funds, deducting contributions from wages at a rate of 12% of emoluments. The funds provide benefits like withdrawals, advances, pensions, and death insurance.
This document provides information about the Employees' Provident Fund Organization (EPFO) Delhi region, including frequently asked questions about provident fund schemes. Some key details:
- EPFO manages provident fund, pension and insurance schemes for employees in India under the Employees' Provident Funds and Miscellaneous Provisions Act of 1952.
- The document answers 15 frequently asked questions about eligibility and benefits under the Employees' Pension Scheme of 1995.
- It provides details on nomination procedures, minimum service period requirements, and who benefits can be paid to if a member dies.
This Blog written by me attempts to discuss the features and Benefits of Employee Provident fund Scheme as a Fixed Savings instrument in terms of Applicability, Contributions, Return, Risks, Lock-in period, Liquidity, Tax Benefits, Voluntary PF and highlights the recent relief measures that the government has announced considering the current COVID-19 Pandemic
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.
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
This document discusses change management in organizations. It defines change management as an alteration in an organization's design, strategy, or processes to influence members to behave differently. The document outlines the scope of change management, including understanding changes in individuals and organizations. It describes different types of changes organizations face, both planned and unplanned, as well as internal and external forces driving change. The document also discusses stakeholders' perspectives in change processes, critical elements of change management, and reasons why changes may fail within organizations.
This chapter discusses key aspects of designing effective training systems. It outlines critical issues in training like learning, pre-training work, and post-training work. It describes the tasks of a training system and the dynamics of developing training systems through six activities. It also discusses the importance of the training environment and using action research with a feedback model to improve training, with trainer-researchers playing a key role.
This document discusses the importance and principles of training. It defines training and differentiates it from education and development. There is a nine step training process outlined that includes assessing needs, designing objectives and programs, implementing, and evaluating. Key aspects of training covered are the ASK concept of addressing attitudes, skills and knowledge, and the five principles of learning. The document provides examples and exercises to illustrate applying training concepts.
1. A case study is a detailed analysis of a real or hypothetical situation that contains a problem or event. Case studies are used to understand how complex real-life situations influence decisions.
2. There are two main types of case studies - scenario cases which provide real solutions and outcomes, and fictional cases which present hypothetical scenarios.
3. A good case study should relate theory to practice, identify major problems, suggest solutions, and detail how solutions could be implemented. It should also involve interesting characters, use realistic scenarios, and make readers think critically.
This document discusses the structure of compensation and its major components. It defines compensation as the total rewards provided to employees in exchange for their services. Compensation includes direct financial payments like wages and salaries as well as indirect financial benefits like health insurance. It also includes non-financial compensation such as satisfaction from the job itself. The major components of compensation discussed are basic salary/wages, incentives, fringe benefits, perquisites, and non-monetary benefits. Determinants that influence compensation structure are also outlined, including economic factors like the labor market, job requirements, and discrimination as well as organizational and social factors.
An attitude is a learned predisposition to respond positively or negatively to people, objects, ideas, or situations. It has three components - cognitive (beliefs/knowledge), affective (feelings), and behavioral (tendency to act). Attitudes are formed through social learning and experiences. They are relatively stable but can change over time as new information is acquired. Common types of attitudes include positive, negative, neutral, and sikken (constantly negative and aggressive).
The Industrial Revolution began in Great Britain in the late 18th century and spread throughout Western Europe and North America in the 19th century. Key innovations included the development of steam power, which allowed cotton mills and other factories to operate mechanically. The textile industry was transformed by the invention of machines like the spinning jenny and water frame. The establishment of factories allowed for greater production. The revolution also saw the rise of new industries like iron production using coke instead of charcoal. The Industrial Revolution had profound social and economic effects and helped drive further technological progress.
Groups are formed when two or more individuals interact and work together to achieve common objectives. There are various theories around how and why groups form. Groups can be formal or informal, and go through typical stages of development including forming, storming, norming, performing, and adjourning. A group's structure, which includes its leadership, roles, norms, size, status, and composition, helps determine its behavior and performance. Group processes like communication, decision-making, and conflict also impact its functioning.
The document discusses identity, difference, and self. It defines identity as the traits and characteristics that define who someone is. Identities can be focused on the past, present, or future. The document also defines self as both shaped by situations and a shaper of behavior, and how people see themselves from both an individual and collective perspective. It discusses making sense of who someone is, was, and may become. The document also discusses what makes people different and some benefits of being different, such as being more fascinating, true to oneself, and having increased confidence and creativity.
General Electric faced lawsuits in 2005 and 2010 alleging racial discrimination against African American workers. The 2010 suit claimed a supervisor used racial slurs and denied breaks and medical care to black workers. Southern California Edison was also sued in 2010 by black workers alleging discrimination in promotions, pay, and job assignments despite previous lawsuits and settlements in 1974 and 1994. Approximately 4,500 black truck drivers sued Walmart between 2001-2008 for racial discrimination in hiring. Walmart denied wrongdoing but settled for $17.5 million. IBM provides an example of the economic losses from discrimination - they fired a highly skilled transgender employee, Lynn Conway, who went on to revolutionize the computer industry, costing IBM significant potential profits. Nondiscrimination policies
Conflict arises from disagreements between two or more parties. It can occur at the intrapersonal, interpersonal, or intergroup levels. The conflict process involves five stages: potential opposition, cognition and personalization, intentions, behavior, and outcomes. Parties may use different conflict handling styles like avoiding, dominating, compromising, or problem-solving. Effective conflict management requires understanding the sources of conflict and using negotiation and cooperation to achieve functional outcomes like improved decision-making and innovation.
This document discusses principles of learning and organizational behavior modification (OB MOD). It explains that learning principles include reinforcement and punishment. There are two types of reinforcement - positive and negative. OB MOD is a program where managers identify critical employee behaviors, measure them, analyze them, develop intervention strategies, and evaluate the results. The goal is to strengthen desirable behaviors and weaken undesirable ones through tools like positive reinforcement.
Groups are formed when two or more individuals interact and work together to achieve common objectives. There are various theories around how and why groups form. Groups can be formal or informal, and go through typical stages of development including forming, storming, norming, performing, and adjourning. A group's structure, which includes its leadership, roles, norms, size, status, and composition, shapes member behavior and group performance. Group processes like communication, decision-making, and conflict also impact a group's functioning.
This document provides information on competency building and planning for success. It discusses knowing what you want, assessing where you are now through reflection on strengths, weaknesses, and motivators. It also covers planning by defining success, assessing risks, committing to goals, and managing change. The document emphasizes the importance of persistence in taking action, learning from feedback, and not giving up in the face of failures or setbacks. The key is to keep planning actions and learning from the results to continue progressing toward your goals through persistence.
The document provides information about developing business plans for various small business ideas. It includes questions to consider for each business plan such as describing the business, identifying the product/service, customers, location, competition, pricing, organization, costs, profits, funding needs, and growth strategy. It also discusses the importance of planning for organizations more broadly, including the benefits of planning, different types of plans based on their breadth, specificity and frequency of use, as well as barriers to effective planning.
Fayol outlined 14 principles of management that emphasized management as a teachable skill rather than an innate ability. The principles included division of labor, authority and responsibility, discipline, unity of command and direction, subordination of individual interests to organizational interests, fair compensation, orderliness, and stability. The principles were meant to provide structure and guidelines for effective management.
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2. The Employee’s Provident Fund Act 1952
The Employee’s Provident Funds Act 1952
Employer role & responsibility
Employee role & responsibility
The Employees Pension Scheme 1995
The Employees Deposit-Linked Insurance Scheme (EDLI) 1976
List of Forms
2
3. 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
3
4. The Employee’s Provident Fund Act 1952
Introduction
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
Application
Every industry employing 10 or more persons (180 industries
are specified in Schedule 1 of the Act)
Every industry employing 10 or more persons which the
Central Govt. may notify
Any other establishment notified by the Central Government
even if employing less than 10 persons 4
5. The Employee’s Provident Fund Act 1952
Eligibility & Entitlement
Every employee employed directly / through a contractor who
is in receipt of wages are eligible to become a member of the
fund (exception - Apprentice under the Apprentices Act and
casual laborers)
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 (upto 100% of basic salary) which will be
transferred to his PF A/c 5
6. The Employee’s Provident Fund Act 1952
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
6
7. The Employee’s Provident Fund Act 1952
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
Immediate income tax exemption under Sec 80C of IT Act
Equal contribution by the employer
Interest rate is usually higher than the prevailing market rate
(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
Totally tax free returns
7
8. The Employee’s Provident Fund Act 1952
Interest
Interest is credited to the members PF A/c on monthly
running balance
Interest rate is fixed by the Central Government in
consultation with the Central Board of trustees of EEPF every
year during March / April
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
8
9. The Employee’s Provident Fund Act 1952
Annual Statement of Account
After the close of each year of contribution, annual
statement of account will be sent to each member through
establishment where the member was last employed
The annual statement of fund account will show the opening
balance at the beginning of the year, contributions during
the year, the amount of interest credited at the end of the
period and the closing balance at the end of the year
If any error is noticed in the annual statement, the member
shall bring the same to the notice of the PF Office through
employer within 6 months from the date of receipt of the
statement
9
10. The Employee’s Provident Fund Act 1952
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
10
11. The Employee’s Provident Fund Act 1952
Advances / Withdrawals
Purchase of site for construction of house / construction of
House / purchase of flat
Additions / alterations / improvements to the house
Repayment of loan
Hospitalisation 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
Abnormal conditions like natural calamities
Physically handicapped member for purchasing an
equipment to minimize the hardship due to handicap
11
13. The Employee’s Provident Fund Act 1952
Monthly Returns
Filing monthly PF returns with the EPFO within 15 days of
the close of each month
Provide list of new employees joined in the establishment
during the preceding month & are qualified to become
member in fund (Form-5)
Provide list of employees leaving service during the
preceding month (Form-10)
Employer should file 'Nil' returns if there is no new employee
or no employee leaving the service during the preceding
month
Provide the total no. of members last month, new members
joined and existing members resigned in the preceding
month & total no. of present subscribers to be fund
(Form-12A)
13
14. The Employee’s Provident Fund Act 1952
Annual Returns
Employer shall send to the Commissioner within one month
of the close of the year, a consolidated Annual Contribution
Statement (Form-6A) and individual employee sheet
(Form-3A) showing the contributions made by the employees
and employer during the year
Penalty
12–37% interest is payable for the delayed period in
remitting contributions/ administrative charges depending
upon the delayed period
Exemption
Employer can seek exemption from the Scheme if similar /
better benefits are provided other than the Scheme by
forming a Voluntary PF Trust which will work under the rules
& regulations of EPFO 14
16. The Employee’s Provident Fund Act 1952
Provide details of self & nominees (Form-2) for PF & Pension
Scheme at the time of joining the establishment
In case of already having PF A/c, apply for transfer of
previous A/c to the present A/c
If willing to increase contribution, inform the same to the
employer to deduct the amount from the salary
(Voluntary Provident Fund).
Voluntary PF can be upto 100% of wages
Understand that the employer is not liable to pay any
contribution on voluntary PF
Periodically verify the details maintained by the employer
Don't allow employer to deduct his share of contribution/
administrative charges payable by him from the wages
Understand that Employees' Provident Fund Organization
does not have any agent / middlemen
16
18. The Employees Pension Scheme 1995
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 18
19. The Employees Deposit-Linked Insurance Scheme 1976
(EDLI)
19
The Employees Deposit-Linked
Insurance Scheme 1976
(EDLI)
20. The Employees Deposit-Linked Insurance Scheme 1976
(EDLI)
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% Administration charges calculated on total EDLI
wages
EDLI / administration charges are payable by the employer
20
21. The Employees Deposit-Linked Insurance Scheme 1976
(EDLI)
Eligible
Person who is eligible to receive PF dues of deceased
member who died while in service is only eligible to receive
EDLI fund
Exemption
Employer can seek exemption from the Scheme if similar /
better benefits are provided other than the Scheme with the
consent of majority of employees
(Ex: IJM opted LIC as it is giving death coverage of Rs.
1,60,000/- under EDLI instead of Rs. 60,000/- given by
EPFO)
21
22. Penalties
False statements to
avoid payment
Default in complying
with Act
Upto 1 year of
imprisonment or fine
amount of Rs. 5,000 or
both
1 year- 3 year
imprisonment or fine
of Rs.10,000 or both
OFFENCE PENALTY
24. List of Forms
Forms For Claiming Benefits Under PF Scheme
24
Form Purpose
13
(revised)
For transferring the PF A/c of a member from one
establishment to another establishment covered under the
Act / Scheme
14 Application for financing a life insurance policy out of PF A/c
19
To be submitted by a member to withdraw his PF dues on
leaving service / retirement / termination
20
In the event of death of member, this form is to be used by a
nominee / family member to claim the member's PF
accumulation
31
To be used by PF members to avail advances / withdrawals as
provided in the scheme
25. List of Forms
Forms For Claiming Benefits Under Pension Scheme
25
Form Purpose
10 C
For claiming :
- Refund of Employer share
- Withdrawal benefit
- Scheme certificate for retention of membership
10 D
To be submitted by the first claimant i.e.
- member
- widow / widower
- nominee
26. List of Forms
Forms For Claiming Benefits Under EDLI Scheme
26
Form Purpose
5 (I.F.)
To be submitted by the person eligible to receive the PF A/c
dues of the deceased member who died while in services