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 Employees' Provident Funds & Miscellaneous Provisions Act, 1952 established a social security system for employees in India. It operates three schemes - Provident Fund, Pension Fund, and Insurance Fund. The key provisions include mandatory contributions of 12% of wages by employer and employee for provident fund. The Central Provident Fund Commissioner can assess dues, impose interest for delayed payments, recover dues, and penalize defaulters. Exemptions are provided for small establishments and those under state/central government control. Employers must enroll all eligible employees and make contributions, maintain records, and file regular returns.
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.
This document provides an overview of the Payment of Bonus Act of 1965 in India. The key points are:
1) The Act requires employers in factories and other establishments with 20 or more employees to pay an annual bonus to eligible employees based on profits or productivity.
2) It applies to employees earning up to Rs. 3,500 per year and who have worked at least 30 days. Certain classes of employees like seamen are exempted.
3) Employers must pay the bonus within 8 months of the accounting year closing and calculate it based on factors like profits, productivity, and number of employees. The Act defines various related terms.
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
This document summarizes key sections of the Payment of Wages Act of 1936 in India. It outlines 4 chapters that cover introduction and definitions, payment and deduction of wages, authorities under the act, and miscellaneous provisions. Some key points include: employers are responsible for paying wages on time; wage periods cannot exceed 1 month; deductions can only be made in certain cases like absence from work; contravention of the act is punishable by fines between 1500-7500 rupees. Any contract that deprives workers of their rights under this act is null and void.
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.
The Employees' Provident Funds & Miscellaneous Provisions Act, 1952 established a social security system for employees in India. It operates three schemes - Provident Fund, Pension Fund, and Insurance Fund. The key provisions include mandatory contributions of 12% of wages by employer and employee for provident fund. The Central Provident Fund Commissioner can assess dues, impose interest for delayed payments, recover dues, and penalize defaulters. Exemptions are provided for small establishments and those under state/central government control. Employers must enroll all eligible employees and make contributions, maintain records, and file regular returns.
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.
This document provides an overview of the Payment of Bonus Act of 1965 in India. The key points are:
1) The Act requires employers in factories and other establishments with 20 or more employees to pay an annual bonus to eligible employees based on profits or productivity.
2) It applies to employees earning up to Rs. 3,500 per year and who have worked at least 30 days. Certain classes of employees like seamen are exempted.
3) Employers must pay the bonus within 8 months of the accounting year closing and calculate it based on factors like profits, productivity, and number of employees. The Act defines various related terms.
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
This document summarizes key sections of the Payment of Wages Act of 1936 in India. It outlines 4 chapters that cover introduction and definitions, payment and deduction of wages, authorities under the act, and miscellaneous provisions. Some key points include: employers are responsible for paying wages on time; wage periods cannot exceed 1 month; deductions can only be made in certain cases like absence from work; contravention of the act is punishable by fines between 1500-7500 rupees. Any contract that deprives workers of their rights under this act is null and void.
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.
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 Wages Act regulates the payment of wages to certain classes of employees in industries. It requires employers to pay wages within a prescribed time limit and restricts deductions to those authorized by law. The Act covers factories and railways and can be extended to other industries. It defines key terms, sets wage payment periods of up to one month, and requires payment within 7 days for factories with under 1,000 employees. Authorized deductions include fines, absence, damage/loss, accommodation, advances, taxes, and union fees. Employees can claim compensation for unauthorized deductions or delayed wages. Penalties are prescribed for non-compliance.
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 Payment of Bonus Act, 1965 requires employers in India to pay annual bonus to eligible employees based on profits. It applies to factories and other establishments with 20 or more employees. The minimum bonus is 8.33% of wages or Rs. 100, whichever is higher. The maximum bonus is 20% of wages. Employers must calculate bonus using a specified formula and maintain registers showing computations. The Act establishes rights for employees to claim unpaid bonus and resolve disputes, and penalties for employers who violate the Act.
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
The document discusses the various benefits provided to members under the Employees' Provident Fund (EPF) schemes in India. It outlines the three major types of benefits: 1) Provident Fund benefits which include employer contributions and interest accrual, 2) Pension benefits such as pension for members and families, and 3) Death benefits such as provident fund payouts and insurance payouts to families. It also provides details on how to become an EPF member, withdraw funds, get a pension, transfer accounts, and avail advances.
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 document discusses the key aspects of gratuity as per the Payment of Gratuity Act, 1972. It provides definitions for gratuity, continuous service, and eligibility criteria. It states that gratuity is payable for continuous service of 5 years or more (or in case of death/disablement) and the maximum amount is Rs. 10 lakhs. The document outlines procedures for nomination, application for gratuity, penalties for non-compliance, and methods to calculate gratuity for different types of employees.
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 key aspects of the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 including definitions of basic wages, employee, and contributions under the Act. It notes that basic wages exclude certain allowances but courts have differed on whether other allowances should be included. The EPFO has also issued contradictory circulars on this topic, creating uncertainty. The document also covers EDLI scheme details and alternatives, UAN 2.0 changes, and how to calculate pension amounts.
The Payment of Wages Act, 1936 applies to the payment of wages in factories, railways, and other establishments. It makes the employer responsible for ensuring timely payment of wages. Wages must be paid within 7-10 days of the end of the wage period, which cannot exceed one month. Deductions from wages are only allowed in certain specified cases like fines, deductions for housing, etc. The Act requires maintenance of registers and provides for inspection of premises and enforcement through penalties for non-compliance.
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.
This document outlines key aspects of the Industrial Employment (Standing Orders) Act of 1946 in India, including:
1. It establishes rules for standing orders (workplace rules) in industrial establishments with 100+ employees. Employers must submit draft standing orders to Certifying Officers for approval.
2. Certifying Officers review drafts for compliance and fairness, allow worker input, and may modify drafts before certification.
3. Certified standing orders come into effect after a review period unless appealed. Copies are registered and must be prominently posted for workers.
4. Certified standing orders generally cannot be modified for 6 months without employer-worker agreement. The Act aims to ensure fair workplace rules
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 document summarizes the key provisions of the Payment of Bonus Act 1965 and Rules. It outlines that the Act applies to establishments with 10 or more employees and requires the payment of an annual bonus equivalent to 8.33% of salary or Rs. 100. Eligible employees are those earning less than Rs. 10,000 per month. Bonus must be computed based on the establishment's available surplus and paid within 8 months of the accounting year close. Employers must maintain registers showing bonus computations and payments, and submit an annual return by December 30 each year. Non-compliance may result in penalties up to 6 months imprisonment or Rs. 1,000 fine.
The Contract Labour (Regulation and Abolition) Act, 1970 regulates the employment of contract labour in establishments with 20 or more workers. It provides for the abolition of contract labour in certain circumstances. The act applies to contractors employing 20 or more workers. It establishes advisory boards to represent stakeholders. Establishments must register with registering officers and obtain certificates. Contractors must be licensed. The act mandates welfare amenities for contract workers and holds the principal employer responsible for ensuring proper payment of wages. It prescribes penalties for non-compliance and requires the maintenance of records.
The document outlines the key provisions of The Contract Labour (Regulation and Abolition) Act of 1970 in India. The objective of the act is to prevent exploitation of contract labour and introduce better working conditions. It applies to establishments employing 20 or more contract laborers. The act defines contractors and workmen. It establishes advisory boards and requires registration of establishments employing contract workers. It prohibits contract work in certain cases and requires licensing of contractors. It mandates welfare provisions like canteens, rest rooms, drinking water, latrines and first aid facilities. Principal employers are responsible for amenities if contractors do not provide them. Contractors must pay wages on time and in the presence of the principal employer's representative. The act establishes an inspect
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 Payment of Bonus Act, 1965 provides for the payment of bonus to employees in establishments employing 20 or more persons based on profits or productivity. It applies to employees earning up to Rs. 10,000 per month who have worked for at least 30 days. Bonus must be between 8.33% to 20% of salary, with a maximum of Rs. 8,400. Establishments must pay bonus from allocable surplus which is 60% of available surplus. New establishments are exempt for 5 years but must consider set on/off from the 6th year. Contracting out of bonus is prohibited.
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.
The document summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The Act was enacted to provide social security to workers by establishing provident funds, pension schemes, and insurance plans. It applies to establishments with 20 or more employees. Key schemes under the Act include the Employees' Provident Fund Scheme, Employees' Pension Scheme, and Employees' Deposit-Linked Insurance Scheme. The Act also outlines penalties for non-compliance and exemptions. Overall, the document provides an overview of the objectives, coverage, administration, schemes, and penalties associated with the Employees' Provident Funds Act of 1952 in India.
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 Wages Act regulates the payment of wages to certain classes of employees in industries. It requires employers to pay wages within a prescribed time limit and restricts deductions to those authorized by law. The Act covers factories and railways and can be extended to other industries. It defines key terms, sets wage payment periods of up to one month, and requires payment within 7 days for factories with under 1,000 employees. Authorized deductions include fines, absence, damage/loss, accommodation, advances, taxes, and union fees. Employees can claim compensation for unauthorized deductions or delayed wages. Penalties are prescribed for non-compliance.
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 Payment of Bonus Act, 1965 requires employers in India to pay annual bonus to eligible employees based on profits. It applies to factories and other establishments with 20 or more employees. The minimum bonus is 8.33% of wages or Rs. 100, whichever is higher. The maximum bonus is 20% of wages. Employers must calculate bonus using a specified formula and maintain registers showing computations. The Act establishes rights for employees to claim unpaid bonus and resolve disputes, and penalties for employers who violate the Act.
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
The document discusses the various benefits provided to members under the Employees' Provident Fund (EPF) schemes in India. It outlines the three major types of benefits: 1) Provident Fund benefits which include employer contributions and interest accrual, 2) Pension benefits such as pension for members and families, and 3) Death benefits such as provident fund payouts and insurance payouts to families. It also provides details on how to become an EPF member, withdraw funds, get a pension, transfer accounts, and avail advances.
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 document discusses the key aspects of gratuity as per the Payment of Gratuity Act, 1972. It provides definitions for gratuity, continuous service, and eligibility criteria. It states that gratuity is payable for continuous service of 5 years or more (or in case of death/disablement) and the maximum amount is Rs. 10 lakhs. The document outlines procedures for nomination, application for gratuity, penalties for non-compliance, and methods to calculate gratuity for different types of employees.
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 key aspects of the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 including definitions of basic wages, employee, and contributions under the Act. It notes that basic wages exclude certain allowances but courts have differed on whether other allowances should be included. The EPFO has also issued contradictory circulars on this topic, creating uncertainty. The document also covers EDLI scheme details and alternatives, UAN 2.0 changes, and how to calculate pension amounts.
The Payment of Wages Act, 1936 applies to the payment of wages in factories, railways, and other establishments. It makes the employer responsible for ensuring timely payment of wages. Wages must be paid within 7-10 days of the end of the wage period, which cannot exceed one month. Deductions from wages are only allowed in certain specified cases like fines, deductions for housing, etc. The Act requires maintenance of registers and provides for inspection of premises and enforcement through penalties for non-compliance.
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.
This document outlines key aspects of the Industrial Employment (Standing Orders) Act of 1946 in India, including:
1. It establishes rules for standing orders (workplace rules) in industrial establishments with 100+ employees. Employers must submit draft standing orders to Certifying Officers for approval.
2. Certifying Officers review drafts for compliance and fairness, allow worker input, and may modify drafts before certification.
3. Certified standing orders come into effect after a review period unless appealed. Copies are registered and must be prominently posted for workers.
4. Certified standing orders generally cannot be modified for 6 months without employer-worker agreement. The Act aims to ensure fair workplace rules
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 document summarizes the key provisions of the Payment of Bonus Act 1965 and Rules. It outlines that the Act applies to establishments with 10 or more employees and requires the payment of an annual bonus equivalent to 8.33% of salary or Rs. 100. Eligible employees are those earning less than Rs. 10,000 per month. Bonus must be computed based on the establishment's available surplus and paid within 8 months of the accounting year close. Employers must maintain registers showing bonus computations and payments, and submit an annual return by December 30 each year. Non-compliance may result in penalties up to 6 months imprisonment or Rs. 1,000 fine.
The Contract Labour (Regulation and Abolition) Act, 1970 regulates the employment of contract labour in establishments with 20 or more workers. It provides for the abolition of contract labour in certain circumstances. The act applies to contractors employing 20 or more workers. It establishes advisory boards to represent stakeholders. Establishments must register with registering officers and obtain certificates. Contractors must be licensed. The act mandates welfare amenities for contract workers and holds the principal employer responsible for ensuring proper payment of wages. It prescribes penalties for non-compliance and requires the maintenance of records.
The document outlines the key provisions of The Contract Labour (Regulation and Abolition) Act of 1970 in India. The objective of the act is to prevent exploitation of contract labour and introduce better working conditions. It applies to establishments employing 20 or more contract laborers. The act defines contractors and workmen. It establishes advisory boards and requires registration of establishments employing contract workers. It prohibits contract work in certain cases and requires licensing of contractors. It mandates welfare provisions like canteens, rest rooms, drinking water, latrines and first aid facilities. Principal employers are responsible for amenities if contractors do not provide them. Contractors must pay wages on time and in the presence of the principal employer's representative. The act establishes an inspect
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 Payment of Bonus Act, 1965 provides for the payment of bonus to employees in establishments employing 20 or more persons based on profits or productivity. It applies to employees earning up to Rs. 10,000 per month who have worked for at least 30 days. Bonus must be between 8.33% to 20% of salary, with a maximum of Rs. 8,400. Establishments must pay bonus from allocable surplus which is 60% of available surplus. New establishments are exempt for 5 years but must consider set on/off from the 6th year. Contracting out of bonus is prohibited.
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.
The document summarizes the key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. The Act was enacted to provide social security to workers by establishing provident funds, pension schemes, and insurance plans. It applies to establishments with 20 or more employees. Key schemes under the Act include the Employees' Provident Fund Scheme, Employees' Pension Scheme, and Employees' Deposit-Linked Insurance Scheme. The Act also outlines penalties for non-compliance and exemptions. Overall, the document provides an overview of the objectives, coverage, administration, schemes, and penalties associated with the Employees' Provident Funds Act of 1952 in India.
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 Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship skill development scheme of the Indian government that aims to provide skill training and certification to unemployed youth. The scheme provides financial rewards up to Rs. 8,000 for candidates who successfully complete certified training programs. Over 18 lakh candidates have been trained under the scheme since its launch in 2015. The government has approved Rs. 12,000 crore to train one crore people over four years under PMKVY.
- The Employee Provident Fund scheme requires employers and employees to each contribute 12% of the employee's basic salary. Contributions are mandatory for employees earning up to Rs. 6,500 per month but optional above that.
- Benefits include withdrawal of funds upon resignation or retirement, pension benefits after 10 years of continuous contributions, and annual interest accrued on contributions.
- Various forms are required for membership, withdrawal, and transferring of funds between employers. Procedures and timelines exist for receiving funds upon resignation from a job.
The Employees Provident Fund Act of 1952 was passed to provide provisions for employees' future after retirement or for dependents in case of early death. It established provident funds for employees in factories and other establishments. Key aspects of the Act include mandatory contributions of 8.33% of wages each by employer and employee to the provident fund. The Act is administered by boards and commissioners appointed by the central government. It outlines processes for recovery of unpaid amounts, filing of appeals, and transfer of funds when employees change jobs.
The document discusses key aspects of the Employees' Provident Fund Act of 1952 in India. It defines terms like provident fund, employer, employee, and establishes that the Act applies to factories and establishments with 20 or more employees. It describes how the fund is administered through boards and committees constituted by the central government, and officers appointed to oversee compliance. Penalties for non-compliance by employers include interest on late payments and recovery of dues by the authorized officer.
The Employees State Insurance Act, 1948 provides social security benefits like sickness, maternity, employment injury and death benefits to employees earning less than ₹15,000 per month. The Employees State Insurance Corporation administers the scheme. It covers factories employing 10 or more people and other establishments employing 20 or more. Employers contribute 4.75% of wages and employees contribute 1.75% to the fund. Benefits include sickness benefit for up to 91 days, maternity benefit for 12 weeks, disablement benefits and dependents' benefits for employment injuries and death.
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.
ppt on micro small and medium enterprisesShreya Sharma
This document provides an overview of micro, small, and medium enterprises (MSMEs) in India. Some key points:
1. MSMEs are the backbone of India's industrial development, contributing nearly 8% of GDP, 40% of manufacturing output, and 45% of exports. They also provide the largest share of employment after agriculture.
2. MSMEs can be classified as micro, small, or medium based on the number of employees and amount invested in plant and machinery. Micro enterprises have less than 10 employees and investments under Rs. 25 lakh. Small enterprises have less than 50 employees and investments under Rs. 5 crore.
3. MSMEs play an important role in
This document discusses Micro, Small, and Medium Enterprises (MSMEs) in India. It defines MSMEs based on the number of employees and investment levels. In India, MSMEs are defined by investment levels in plant/machinery or equipment, with micro enterprises having less than 25 lakh investment, small between 25 lakh to 5 crore, and medium more than 5 crore to 10 crore. MSMEs make up 13 million units employing over 42 million people and contribute significantly to manufacturing, exports, and GDP. The government supports MSMEs through various schemes for credit, technology, marketing, exports, and cluster development.
The Workmen's Compensation Act, 1923 provides compensation to workmen and their dependents for injuries arising out of and in the course of employment. The Act applies to various hazardous occupations and establishments. It defines key terms like employer, dependant, disablement and wages. Employers are liable to pay compensation in cases of work-related injuries or death. The amount of compensation depends on the nature of injury, wages and relevant factors. It can be paid as lump sum or monthly payments. Commissioners are appointed to determine compensation amounts and resolve disputes. Appeals against commissioner's orders can be made to the High Court within 60 days.
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.
The Employees' Provident Funds and Miscellaneous Provisions Act of 1952 provides social security and monetary assistance to industrial employees and their families. The key aspects of the Act include:
1. It establishes provident funds, pension schemes and insurance schemes that provide retirement benefits like provident funds, superannuation pensions and family pensions.
2. It applies to establishments with 20 or more employees and some establishments with less than 20 upon request.
3. The Central Board of Trustees regulates the schemes and is composed of central and state government officials, employee and employer representatives.
4. It mandates a 12% contribution each from employer and employee wages to the provident fund and additional contributions to the pension
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (EPF Act) provides social security and timely monetary assistance to industrial employees and their families. The key schemes under the Act are the Employees' Provident Fund Scheme, Employees' Pension Scheme, and Employees' Deposit Linked Insurance Scheme. The Central Board of Trustees administers the schemes and maintains accounts. Key provisions include mandatory contributions by employers (12% of wages) and employees (12% of wages), wage ceiling of Rs. 15,000 per month, and interest rates set by the Central Board. The Act applies to establishments with 20 or more employees and certain other notified establishments.
The Employees Provident Fund and Miscellaneous Provisions Act, 1952 was passed to provide social security to employees in industries by establishing a compulsory provident fund. The Act applies to establishments with 20 or more employees across industries like cement, cigarettes, engineering etc. It requires both employers and employees to contribute 12% each of the employee's basic wages to the provident fund. Several amendments have been made over time to introduce provisions like family pension schemes and deposit linked insurance schemes. The Act is administered by the Central Board of Trustees, Employees Provident Fund Organisation with representation from government, employers and employees.
Provnt ida matrnity_tua_esic_factories_poba_divya_kashDivya Kashyap
Seven acts of industrial relations and labour laws and these are as follows:-
Provident fund act, minimum wages act, industrial disputes acts, maternity,trade union act,factories act, payment of bonus act..
An act to provide for the institution of provident fundsPrabhakar Pandey
This document outlines key aspects of the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. It establishes provident funds for employees across various industries and organizations. Some key points:
- It applies to factories with 20+ employees and other establishments with 20+ employees that the central government specifies. Exemptions are possible.
- Provident funds (called the Employees' Provident Fund or EPF) are administered by boards of trustees at the central and state levels. The Central Board oversees the national EPF scheme.
- The Central Board has representatives from government, employers, and employees. It administers the EPF fund and performs other functions outlined in schemes related to pensions
The document provides an overview of the Employees' State Insurance Act of 1948 and the Personal Injuries (Compensation Insurance) Act of 1963 in India.
The ESI Act established a social insurance scheme to protect workers against risks like sickness, maternity, employment injury and death. It guarantees medical care for workers and dependents. The PIC Act requires employers to pay compensation to workers for personal injuries and provide insurance against such liability. Both Acts aim to promote social security for workers through provision of benefits and compensation for accidents and injuries on the job.
This document outlines the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 which established provident funds, pension funds, and deposit-linked insurance funds for employees in factories and other establishments in India. Some key points:
- It applies to factories employing 20 or more people as well as other establishments specified by the Central Government employing 20 or more people.
- It establishes the Employees' Provident Fund Scheme which is administered by the Central Board of Trustees for the Employees' Provident Fund.
- The Central Board oversees and maintains the Provident Fund, Pension Fund, and Insurance Fund according to the schemes framed under the Act.
- Various officers are appointed to administer the schemes
This document outlines the Employees' Provident Funds and Miscellaneous Provisions Act of 1952 in India. Some key points:
- It establishes provident funds, pension funds, and deposit-linked insurance funds for employees in factories and other establishments.
- It applies to factories with 20+ employees engaged in specified industries, and other establishments with 20+ employees that the central government specifies.
- It establishes the Employees' Provident Fund Scheme to set up provident funds under the Act. A Central Board administers the funds and performs other functions outlined in schemes and funds.
- It defines terms like employer, employee, basic wages, and establishes the Central Provident Fund Commissioner and other officers to administer
Statutory compliance refers to organizations adhering to relevant laws and regulations. The document discusses several key Indian labor laws that companies must comply with, including the Provident Fund, Employee State Insurance Act, Professional Tax, Gratuity, Minimum Wages Act, Maternity Benefit Act, Payment of Bonus Act, and Payment of Wages Act. These laws require organizations to provide benefits like provident fund contributions, health insurance, maternity leave, minimum wages, and annual bonuses to their employees as mandated. Non-compliance can result in penalties like fines or imprisonment.
The Minimum Wages Act, 1948 provides for fixing minimum rates of wages in certain employments in India. Some key points:
1) It defines wages, employee, and sets minimum wage rates that can differ based on employment, work class, age (adult, adolescent, child), and locality.
2) Employers must pay employees wages at a rate not less than the minimum wage fixed for that class of employees in that employment, within a time period specified in the Act.
3) Wages include basic pay and allowances but exclude certain other payments like pensions, travel allowances, or reimbursements. Deductions from wages are only permitted in certain specified cases like fines, damages, or loans
This document summarizes the key aspects of the Employees' State Insurance Act of 1948 in India. The act established the Employees' State Insurance Corporation to administer an insurance scheme providing sickness, maternity, and employment injury benefits to employees. It applies initially to all factories with 10 or more employees. The act defines important terms like employee, wages, family, insurable employment and establishes the Corporation to centrally administer the scheme. It outlines the composition of the Corporation board including representatives of central and state governments, employers, employees and medical professionals.
This document summarizes the key aspects of the Employees' State Insurance Act of 1948 in India. The act established the Employees' State Insurance Corporation to provide certain benefits to employees such as sickness, maternity and employment injury benefits. It applies initially to all factories with 10 or more employees and can be extended to other establishments. The act defines important terms related to employees, wages, insurance benefits and establishes the governing body of the ESI Corporation.
This document summarizes the key aspects of the Employees' State Insurance Act of 1948 in India. The act established the Employees' State Insurance Corporation to provide certain benefits to employees such as sickness, maternity and employment injury benefits. It applies initially to all factories with 10 or more employees and can be extended to other establishments. The act defines important terms related to employees, wages, family members and types of benefits. It outlines the constitution of the Employees' State Insurance Corporation and its powers to administer the scheme and provide benefits to employees.
This document summarizes the key aspects of the Employees' State Insurance Act of 1948 in India. The act established the Employees' State Insurance Corporation to provide certain benefits to employees such as sickness, maternity and employment injury benefits. It applies initially to all factories with 10 or more employees. The act defines important terms related to employees, wages, family members and types of benefits. It establishes the Employees' State Insurance Corporation as a body corporate to administer the scheme. The Corporation consists of representatives from central and state governments, employers, employees and medical professionals.
The Indian Bonus Act of 1965 provides for the payment of bonus to employees in certain establishments based on profits or productivity. It applies to factories employing 20 or more people and other establishments employing 10 or more. Eligible employees must have worked for at least 30 days in the accounting year. Bonus is calculated based on the allocable surplus of the establishment, with a minimum of 8.33% of wages and a maximum of 20%. Any disputes regarding bonus are treated as industrial disputes. Certain categories of employees such as those in public sector establishments are not eligible for bonus under this Act.
The document outlines definitions and provisions related to the Employees' Provident Fund Act of 1952 in India, including defining terms like employer, employee, wages, and establishing provident funds. It discusses the establishment of a Central Board to administer the funds and an Executive Committee to assist it. State boards may also be constituted to exercise powers assigned by the Central Government.
The document outlines definitions and provisions related to the Employees' Provident Fund Act of 1952 in India, including defining terms like employer, employee, wages, and establishing provident funds. It discusses the establishment of a Central Board to administer the funds and an Executive Committee to assist it. State boards may also be constituted to exercise powers assigned by the Central Government.
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 document provides frequently asked questions about the Employees' State Insurance (ESI) Scheme in India. Some key points:
- The ESI Scheme is a social security program that provides sickness, maternity, disability and death benefits to organized sector employees.
- It is administered by the Employees' State Insurance Corporation (ESIC) and funded through contributions from employers and employees.
- Establishments with 10 or more employees in certain sectors like shops, hotels, transport are covered. Registration of establishments and employees is mandatory.
- Benefits include medical care for employees and families as well as wage replacement during sickness or maternity. Employers must pay contributions within 21 days of the wage period.
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!
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Assessment and Planning in Educational technology.pptxKavitha Krishnan
In an education system, it is understood that assessment is only for the students, but on the other hand, the Assessment of teachers is also an important aspect of the education system that ensures teachers are providing high-quality instruction to students. The assessment process can be used to provide feedback and support for professional development, to inform decisions about teacher retention or promotion, or to evaluate teacher effectiveness for accountability purposes.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
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.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
2. To provide retirement benefit to the employees in the form of lump sum
amount and also provide for a pension scheme to the employee & his
family. This Act is now applicable to employees drawing monthly pay
not exceeding Rs.6,500/-.
Presently the following three Schemes are in operation under the Act:-
1. The Employees’ Provident Fund Scheme, 1952
2. Employees’ Pension Scheme, 1995 and
3. Employees’ Deposit Linked Insurance Scheme, 1976.
2
3. All establishments / factories included in the list of notified industries
and class of establishments as in Schedule I and employing 20 or more
persons.
Any other establishment employing 20 or more persons or class of
establishments which the Central Government may notify.
The Act will come into force in an establishment from the very date of
set up or commencement of business except certain class of
establishments as excluded under Section 16 of the Act.
3
4. It extends to the whole of India except the State of Jammu and Kashmir.
Subject to the provisions contained in section 16, it applies-
(a) to every establishment which is a factory engaged in any
industryspecified in Schedule I and in which 6[twenty] or more
personsare employed, and
(b) to any other establishment employing 7[twenty] or more persons
or class of such establishments which the Central Government
may, by notificationin the Official Gazette, specify in this behalf:
• Provided that the Central Government may, after giving not less than
two months' notice of its intention so to do, by notification in the Official
Gazette, apply the provisions of this Act to any establishment
employing such number of persons less than 8[twenty] as may be
specified in the notification.
5. • S.1(4): Notwithstanding anything contained in sub-section (3) of this
section or sub-section (1) of the section 16 where it appears to the
Central Provident Fund Commissioner, whether on an application
made to him in this behalf or otherwise, that the employer and the
majority of employees in relation to any establishment have agreed
that the provisions of this Act should be made applicable to the
establishment, he may, by notification in the Official Gazette, apply
the provisionsof this Act to that establishment.
6. • Any establishment registered under Cooperative Societies Act or
State Law relating to Cooperative societies, employing less than
50 persons and working withoutpaid of power.
• Toany establishmentbelonging to or under Controlof Central
Governmentor State Government
• Toany establishmentset upunder any Central or State Act
• Any otherestablishmentnewly set upuntil the expiryof 3 years
• An employee who, having been a member of the fund, has
withdrawn the full amount of his contribution in the fund (a) on
retirement from service after attaining the age of 55 years or (b)
before migration from India for permanent settlement abroad; or
for taking employment abroad
7. • An employee who, having been a member of the fund, has
withdrawnthe full amount of his contribution in the fund
(a) on retirement from service after attaining the age of 55 years or
(b) before migration from India for permanent settlement abroad; or for
taking employment abroad
• An employee whose pay at the time he is otherwise entitled to
become a member of the Fund, exceeds Rs. 6,500/- per month.
• A person who, is an apprentice, or who is declared to be an
apprentice by the authority specified in this behalf by the
appropriateGovernment.
8. AppropriateGovernment:
The AppropriateGovernment is the Central Government in relation
to-
in relation to an establishment belonging to, or under the control of,
the Central Government or in relation to an establishment
connected with a railway company, a major port, a mine or an oil
field or a controlled industry, 2[or in relation to an establishment
having departments or branches in more than one State,] the Central
Government; and
in relation to any other establishment, the Appropriate Government
is the State Government.
9. Basic Wages:
• “Basic Wages” means all emoluments which are earned by an
employee while on duty or 4[on leave or on holidays with wages
• In either case] in accordance with the terms of the contract of
employment and which are paid or payable in cash to him, but does not
include--
(i) the cash value of any food concession;
(ii) any dearness allowance (that is to say, all cash payments by whatever
named called paid to an employee on account of a rise in the cost of
living), house-rent allowance, overtime allowance, bonus, commission
or any other similar allowance payable to the employee in respect of
his employment or of work done in such employment;
(iii) any presents made by the employer
10. Employer:
“Employer” means-
(i) in relation to an establishment which is a factory, the owner or the
occupier of the factory, including the agent of such owner or
occupier, the legal representative of a deceased owner or occupier
and, where a person has been named as a manager of the factory
under clause (f) of sub-section (1) of section 7 of the Factories Act,
1948 (63 of 1948), the person so named.
(ii) In relation to any other establishment, the person who, or the
authority which, has the ultimate control over the affairs of the
establishment, and where the said affairs are entrusted to a manager,
managing director or managing agent; then such manager, managing
director or managing agent.
11. Employee:
“Employee” means any person who is employed for wages in any kind of
work, manual or otherwise, in or in connection with the work of 1[an
establishment], and who gets, his wages directly or indirectly from the
employer, 2[and includes any person]-
(i) employed by or through a contractor in or in connection with the work
of the establishment;
(ii) engaged as an apprentice, not being an apprentice engaged under
the Apprentices Act, 1961 (52 of 1961) or under the standing orders of
the establishment.
12. (Cont..)
“Exempted Employee” means an employee to whom a Scheme 4[or the
Insurance Scheme, as the case may be,] would, but for the exemption
granted under section 17, have applied;
“Exempted Establishment” means an establishment in respect of which
an exemption has been granted under section 17 from the operation
of all or any of the provisions of any Scheme [or the Insurance
Scheme, as the case may be], whether such exemption has been
granted to the establishment as such or to any person or class of
personsemployed therein.
13. Factory:
“Factory” means any premises, including the precincts(boundaries)
thereof, in any part of which a manufacturing process is being
carried on or is ordinarily so carried on, whether with the aid of
power or without the aid of power.
Industry:
“Industry” means any industry specified in Schedule I, and includes any
other industry added to the Schedule by notification under section4.
15. The Central Government may, by notification in the Official Gazette, frame a
Scheme to be called the Employees' Provident Fund Scheme for the
establishment of provident funds under this Act for employees or for any
class of employees and specify the establishments or class of establishments
to which the said scheme shall apply and there shall be established, as soon
as may be after the framing of the scheme, a fund in accordance with the
provisionsof this Act and the Scheme.
• The fund shall vest in, and be administered by, the Central Board
constitutedunder Section 5-A.
• Subject to the provisions of this Act, a Scheme framed under subsection(1)
may provide for all or any of the matters specified in Schedule-II.
• A scheme framed under sub-section (1) may provide that any of its
provisions shall take effect either prospectively or retrospectively on such
date as may be specified in this behalf in the Scheme.
16. The employer’s and employee’s contributionis 12% each. The
employer’scontributionto the Provident Fund will be 10%/12% of
thePay ( i . e Basic Wages +D . A + RetainingAllowance)
The Central Government is empowered to increase the rate of
contribution to 12% by way of notification in the official
Gazette.
Employee earning more than Rs.6,500 per month is eligible for
availing this scheme.
17. 1. Employees : 12% on Basic + DA
2. Employer:
(a) 3.67% on Basic + DA
(b) Administrative Charges : 1.10% on
Basic +DA
9-Apr-14
18. Out of employer’s contribution of 12% the
employer’s contribution of 8.33% will be diverted to
Employees Pension Scheme. The balance will be
retained in the EPF Scheme .Thus, on retirement, the
employee will get his full share plus the balance of
employer’s share retained to his credit in EPF account.
The amount received by way of Provident Fund
Contributions is to be invested by the Board of Trustees
in accordance with the investment pattern approved
by the Government of India. The members get interest
on the money standing to the credit at a rate
recommended by the Board of Trustees approved by
the Government of India
19. The Central Government may, by notification in the Official Gazette,
constitute with effect from such date as may be specified therein, a Board
of Trustees for the territories to which this Act extends (hereinafter in this
Act referred to as the Central Board) consisting of the following
8[persons, as members], namely:
(a)a Chairman and a Vice-Chairman] to be appointed by the Central
Government; the Central Provident Fund Commissioner, Ex-officio;]
(b) not more than 15 persons appointed by the Central Government from
amongstits officials;
(c)not more than 15 persons representing Governments of such States as the
Central Government may specify in this behalf appointed by the Central
Government;
20. (d)Ten persons representing employers of the establishment to which the
Scheme applies, appointed by the Central Government after
consultation with such organizations of employers as may be recognized
by the Central Government in this behalf; and
(e)Ten persons representing employees in the establishments to which the
Scheme applies, appointed by the Central Government after
consultation with such organizations of employees as may be recognized
by the Central Government in this behalf.
(2) The terms and conditions subject to which a member of the Central
Board may be appointed and the time, place and procedure of the
meetings of the Central Board shall be such as may be provided for in
the Scheme.
21. (3) The Central Board shall 1[, subject to the provisions of Section 6-A and
Section 6-C administer the fund vested in it in such manner as may be
specified in the Scheme.
(4) The Central Board shall perform such other functions as it may be
required to perform by or under any provisions of the Scheme ,the
Pension Scheme and the Insurance Scheme.
(5) The Central Board shall maintain proper accounts of its income and
expenditure in such form and in such manner as the Central Government
may, after consultation with the Comptroller and Auditor-General of
India, specify in the Scheme.
(6) The accounts of the Central Board shall be audited annually by the
Comptroller and Auditor-General of India and any expenditure
incurred by him in connection with such audit shall be payable by the
Central Board to the Comptroller and Auditor-General of India.
22. (7) The Comptroller and Auditor-General of India and any person appointed by
him in connection with the audit of the accounts of the Central Board shall have
the same rights and privileges and authority in connection with such audit as
the Comptroller and Auditor-General has, in connection with the audit of
Government Accounts and, in particular, shall have the right to demand the
production of books, accounts, connected vouchers, documents and papers and
inspect any of the offices of the Central Board.
(8) The accounts of the Central Board as certified by the Comptroller and m
Auditor-General of India or any other person appointed by him in this behalf
together with the audit report thereon shall be forwarded to the Central Board
which shall forward the same to the Central Government along with its
comments on the report of the Comptroller and Auditor-General.
(9) It shall be the duty of the Central Board to submit also to the Central
Government an annual report of its work and activities and the Central
Government shall cause a copy of the annual report, the audited accounts
together with the report of the Comptroller and Auditor-General of India and
the comments of the Central Board thereon to be laid before each House of
Parliament].
23. (1) The Central Government may, by notification in the Official Gazette,
constitute, with effect from such date as may be specified therein, an
Executive Committee to assist the Central Board in the performance of its
functions.
(2) The Executive Committee shall consist of the following persons as
members,namely:-
– a Chairman appointed by the Central Government from amongst the
members of the Central Board;
– two persons appointed by the Central Government from amongst the
personsreferred to in clause (b) of sub-section (1) of Section5A
– three persons appointed by the Central Government from amongst the
personsreferred to in clause (c) of sub-section (1) of Section 5-A;
24. – three persons representing the employers elected by the Central
board from amongst the persons referred to in clause (d) of
subsection(1)of Section 5-A;
– three persons representing the employees elected by the Central
Board from amongst the persons referred to in clause (e) of
Subsection (1) of Section 5-A;
– the Central Provident Fund Commissioner, ex-officio.
(3)The terms and conditions subject to which a member of the Central
Board may be appointed or elected to the Executive Committee and
the time, place and procedure of the meetings of the Executive
Committee shall be such as may be provided for in the Scheme.
25. (1) The Central Provident Fund Commissioner, any Additional Central
Provident Fund Commissioner, any Deputy Provident Fund
Commissioner, any Regional Provident Fund Commissioner or any
Assistant ProvidentFund Commissioner may, by order,
(a) in a case where a dispute arises regarding the applicability of this Act
to an establishment, decide such dispute; and
(b) determine the amount due from any employer under a provision of
this Act, the Scheme or the Pension Scheme or the Insurance Scheme, as
the case may be, and for any of the aforesaid purposes may conduct such
inquiry as he may deem necessary.
26. (2) The officer conducting the inquiry under sub-section 1 shall, for the
purposes of such inquiry have the same powers as are vested in a court
under the code of Civil Procedure, 1908 (5 of 1908), for trying a suit in
respect of the following matters, namely:-
(a) enforcing the attendance of any person or examining him on oath:
(b) requiring the discovery and production of documents;
(c) receiving evidence on affidavit;
(d) issuing commissions for the examination of witnesses, and any such
inquiry shall be deemed to be a judicial proceeding within the meaning
of sections 193 and 228, and for the purpose of section 196 of the Indian
Penal Code 45 of 1960.
(3) No order shall be made under sub-section 1, unless the employer
concerned is given a reasonable opportunityof representing his case.
27. • Where an order under sub-section 1 is passed against an employer ex-parte, he may,
within three months from the date of communication of such order, apply to the officer
for setting aside such order and if he satisfies the officer that the show cause notice was
not duly served or that he was prevented by any sufficient cause from appearing when
the inquiry was held, the officer shall make an order setting aside his earlier order and
shall appoint a date for proceeding with the inquiry:
• Provided that no such order shall be set aside merely on the ground that there has been
an irregularity in the service of the show cause notice if the officer is satisfied that the
employer had notice of the date of hearing and had sufficient time to appear before the
officer.
Explanation.- Where an appeal has been preferred under this Act against an order passed
ex parte and such appeal has been disposed of otherwise than on the ground that the
appellant has withdrawn the appeal, no application shall lie under this sub-section for
setting aside the ex parte order.
• No order passed under this section shall be set aside on any application under sub-
section4 unless notice thereof has been served on the opposite party.
28. Purpose:
The purpose of the scheme is to provide pension and life assurance to
employees of any establishment to which this act applies.
(1) superannuation pension, retiring pension or permanent total
disablement pension to employees covered by the Employees’
ProvidentFunds and Miscellaneous ProvisionsAct, and
(2) widow or widower’s pension, children pension or orphan pension
payable to the beneficiaries of such employees.
29. Such sums from the Employer’s contribution to EPF
Scheme as may be specified in the Pension Scheme.
However the sum shall not exceed 8.33% of the Pay
(Basic Wages+ D. A +Retaining Allowance), balance-
3.67% as the case may be, will be credited
in employee’s name in Provident Fund account.
Monthly Pension=Pensionable Salary*(Pensionable
Service+2)/70.
For e.g. Pensionable service=33 years, pensionable
salary= Rs. 5,000,
Monthly pension = 5,000*{33+2}/70= Rs. 2,500.
30. 1. Employee: Not required
2. Employer :
(a) 8.33% on Basic + DA
It is to be noted that where the pay of the member exceeds Rs. 6,500/-
per month, the contribution payable by the employer will be limited
to the amt. payable on his pay of Rs. 6,500/- only.
31. Purpose: To provide Life insurance benefits to
the employees of the establishment to whom the
Act applies. After the Insurance Scheme has been
framed , the Central Government Shall establish a
deposit Linked Insurance scheme by way of
notificationin the Official gazette.
Contribution: Employees: Not required..
Employer:(a) 0.50% on Basic + DA
(b) Administrative Charges : 0.01% on Basic
+DA and retaining allowance(if any)Where
the monthly pay of an employee is more than
Rs.6,500 the contribution payable in respect
of him by the employer is limited to the
amounts payable on a monthly pay of Rs.
6,500/-
32. Purpose:
To provide life insurance benefits to the employees of the establishments covered
by the EPF & MP Act, 1952
1. Employees : Not required
2. Employer :
(a) 0.5% on Basic + DA
(b) Administrative Charges : 0.01% on
Basic +DA
Where the monthly pay of an employee is more than Rs. 6,500 the
contribution payable in respect of him by the employer is limited
to the amts payable on a monthly pay of Rs. 6,500 only.
33. The benefit provided under the scheme in the nature of life
insurance as follows:
1. On the death of an employment while in service a lump
sum insurance amount is payable to his nominee or
family members.
2. The insurance amount is equal to the average balance in
the account of the deceased employee in the Provident
Fund during a period of 12 months immediately
preceding his death. In case the average balance
exceeds Rs.35,000/- the insurance amount payable is
Rs. 35,000/- plus 25% of the amount in excess of Rs.
35,000/- subject to a ceiling of Rs. 60,000/-.
34. Schemes Employer’s Employees’* Central Govt. Total
Provident Fund 3.67% 12% 0% 15.67%
Insurance Fund
(EDLI)
0.5% 0% 0% 0.5%
Pension Fund 8.33% 0% 1.16% 9.49%
Total 12.5% 12% 1.16% 25.66%
* Rate of contribution is 10% in respect of following
establishments :-
less than 20 persons are employed.
sick unit declared by the BIFR.
34
35. Casual workers/ Temporary workers/ Probationary, even if
they had performed work even for a day, are technically
taken into account for the purpose of assessments of strength
of 20 for the purpose of applicability of the act and are also
covered under the act. Apprentices/ Trainees are excluded
from the definition of employees.
Percentage of contribution to be deducted from employees
contribution is 12% of his salary, namely Basic + DA , but
does not include HRA, CCA, Incentive, Bonus, Washing
allowance etc.
36. Employer contribution of 12% of the salary of employees
is to be paid as under
• 3.67% to be remitted in Account No.1 ( Employees Account)
• 8.33% to be remitted in Account No.10 towardspension fund
In addition to 12% of the employer has to remit 1.61%
paid as under
• 1.10% Administrativecharges in Account No.2
• 0.5% EDLI in Account No.21
• 0.01% Inspection charges in Account No.22
37. • To facilitate the employer to make the above
contribution a consolidated challan (in quadruplicate)
is made in which all the above contributions could be
remittedone challan itself.
38. In SBIBefore 15th of every
month
ChallanMonthly contribution of Employer
& Employee in Challan for previous
month
2.
RPFC officeBefore 25th of every
month
12AMonthly Return5
RPFC officeBefore 15th of every
month
10Return of Employees Leaving4
RPFC officeBefore 15th of every
month
5Return of Employees Qualifying3.
RPFC officeAt the time of
joining
2Declaration Form from new
Joinees
1.
Remark /
Submitted to
Compliance DateForm
No.
Type of ComplianceSr.
No.
39. RPFC officeWhen new Recruit13Transfer of PF A/c6.
After 5 Years of
membership
31Advances for various Purpose8.
RPFC officeAt the time of
Leaving the service
19, 10C &
10D
Final settlement7.
RPFC officeBefore 30th of April3A & 6AAnnual return & reconciliation
statement
5.
Remark /
Submitted to
Compliance DateForm No.Type of ComplianceSr.
No.
40. Form 5: Employees qualifying for PF for first time (Month Wise)
Form 10: Employees leaving the service (Month Wise)
Form 12A: Statement of contribution (Monthly)
Form 3A: Contribution card for specific currency period(Employee wise)
Form 6A: Annual Statement of contribution (Company Wise)Declaration: By
the employee
Form 2: Nomination and Declaration
Form 19: To claim final settlement of Provident Fund by member
Form 10C: Claiming withdrawal Benefit/Scheme certificate
Form 20: To claim Provident Fund by nominee/legal heir on death of the
member.
Form 10-D:To claim pension. (In duplicate :if within state, in triplicate: if
other state.
Form 5IF: To claim assurance benefit under Employees Deposit Linked
Insurance nominee/legal heir of a member.
Form 31: To claim temporary withdrawal/advance under Employees
Provident Fund scheme 52.
Form 13: To effect transfer of Provident Fund/Pension from one A/c to
another
41. Benefit to nominee of employee:
On the death of
an employee
while in service a
lump sum
insurance amount
is payable to his
nominee or
family members.
The insurance amount is
equal to the average
balance in the account of
the deceased employee
in the Provident Fund
during a period of 12
months
immediately preceding
his death. In case the
average balance
exceedsRs.35,000/- the
insurance amount
payable is Rs. 35,000/-
plus 25% of the amount
in excess of Rs. 35,000/-
subject to a ceiling of Rs.
60,000/-.
42. • Appeal against various orders passed under
the Act can be made to employee’s PF
Appellate Tribunal. Appeal is entertained only
after depositing 75% of the amount demanded.
Appeal :
• An application form provision is made to central
Government.
• The application must be made by employer and
majority of employees.
• The establishment employs 100 or more persons.
• The establishment hasn’t committed any default in
the payment of PF contribution or any other offence
during 3 years immediately preceding the date of
application.
• The Central Government has authorized the
employer by an order in writing to maintain a PF A/C
Employer’s
Own PF A/c
Authorization:
43. Manner of
maintenance
of PF A/C.
Submission of
Returns.
Manner of
Depositing the
Contribution.
Facilities to be
provided for
inspection.
Payment of
Administrative
charges.
Other terms &
conditions.
44. Transfer of A/C:
If the new establishment is covered under PF act;
If the new establishment is not covered under the PF act;
If the old establishment was not covered under the PF act.
Penalties:
Any false statement/ false representation/ avoiding any payment of
benefits under the Act- 5 years imprisonment or Rs. 25,000 or both.
45. To collect
information & ask
to furnish
Information on
amount recoverable;
Enter establishment
at any time and
require an employee
to produce before
him examination any
accounts, books,
register or documents
relating to
employment of
persons.
Make copies from
books, register or
other documents in
relation to
establishment.