I believe that the information provided by the website will help the members to understand on how to maintain their accounts in the proper manner so that there will not be any complications at refunding of funds. There was a proposal which restricted employee access to a part of the funds, allowing for the withdrawal of the employer contribution only after attaining the age of 58 years, which stands in abeyance as of now. The employee has to correct the details and get it counter-signed by the employer. Where an employer makes default in the payment of any contribution to the Fund or in the transfer of accumulations required to be transferred by him under sub -section 2 of section 15 or in the payment of any charges payable under any other provision of this Act or of any Scheme or under any of the conditions specified under section 17, the appropriate government may recover from the employer such damages, not exceeding twenty -five per cent of the amount of arrears, as it may think fit to impose. Executive Committee 1 The Central Government may by notification in the Official Gazette constitute with effect from such dates as may be specified therein an Executive Committee to assist the Central Board in the performance of its functions.
Applicability of the Act It is applicable : a Every factory engaged in any industry specified in Schedule 1 in which 20 or more persons are employed; b Every other establishment employing 20 or more persons or class of such establishments which the Central Govt. Employee Contribution Provident fund contribution is recovered 12% of wages from employees who earn up to a maximum wage of Rs. Establishment to include all departments and branches For the removal of doubts it is hereby declared that where an establishment consists of different departments or has branches where situated in the same place or in different places all such departments or branches shall be treated as parts of the same establishment. The Act is now referred as the which extends to the whole of India except Jammu and Kashmir. To claim pension, the member is required to submit Form 10 C.
The fees to be levied for any of the purposes specified in this Schedule. Institutions and Economies, 9 1 , 81-98. Money to the credit of individual accounts to be inalienable. 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an order passed ex parte and such appeal has been disposed of otherwise than on the ground that the appellant has withdrawn the appeal no application shall lie under this sub-section for setting aside the ex-parte order. However, at the same time, it has also increased the liability of the employers who would now be responsible to enroll additional eligible employees and to contribute on the increased statutory wage ceiling. Short title extent and application — Each cable operator shall maintain a register in Form 5 for each month of the year for which the registration is granted.
Conclusion Thus Employee Provident Fund grants the employee to have a regular income through a pension. The Commissioner cadre numbering 815 are recruited directly, competitively, through the Union Public Service Commission of India as well as through promotion from lower ranks. The conditions under which a member may be permitted to pay premia of life insurance from the Fund. Transfer of accounts 1 Where an employee employed in an establishment to which this Act applies leaves his employment and obtains re-employment in another establishment to which this Act does not apply the amount of accumulations to the credit of such employee in the Fund or as the case may be in the provident fund of the establishment left by him shall be transferred within such time as may be specified by the Central Government in the behalf to the credit of his account in the provident fund of the establishment in which he is re-employed if the employee so desires and the rules in relation to that provident fund permit such transfer. The object of the Act in 1952 was the institution of the compulsory contributory Provident Fund to the employees to which both the employee and the employer would contribute. The officials of the organization in the Cadre of Commissioners are appointed by the Central Board under Section 5D for efficient administration of the Act and Schemes.
Administratively, the organization is divided into zones which are headed by an Additional Central Provident Fund Commissioner. The Employee provident fund act provides collection of pension and deposit fund, deposit linked insurance for the employees at factories and other establishments. Right of employees and employers to elect to pay contributions calculated at higher percentages and liability of employees and employers who make such election. Payment of contributions due from employees. Provident fund is a welfare scheme for the benefits of the employees. An employee shall pay the equal share of contribution as paid by his employer. Employer not to reduce wages etc No employer in relation to an establishment to which any Scheme or the Insurance Scheme applies shall by reason only of his liability for the payment of any contribution to the Fund or the Insurance Fund or any charges under this Act or the Scheme or the Insurance Scheme reduce whether directly or indirectly the wages of any employee to whom the Scheme or the Insurance Scheme applies or the total quantum of benefits in the nature of old age pension gratuity provident fund or life insurance to which the employee is entitled under the terms of his employment express or implied.
Employer deducted the employee share from the salary of the employee. Immediate employer being himself in the employment of another person. Archived from on 23 May 2013. Explanation : In this sub-section and in section 17 insurance fund means any fund established by an employer under any Scheme for providing benefits in the nature of life insurance to employees whether linked to their deposits in provident fund or not without payment by the employees of any separate contribution or premium in that behalf. Ways to be accustomed for Employee Provident Fund Act The following are the people applicable according to the Employee provident fund act 1. The first Provident Fund Act passed in 1925 for regulating the provident funds of some private concerns was limited in scope.
The Employees' Provident Funds Scheme, 1952 framed under section 5 of the Act was brought into force by stages and was enforced in its entirety by 1 November 1952. Recovery Officer to whom certificate is to be forwarded 1 The authorised officer may forward the certificate referred to in section 8B to the Recovery Officer within whose jurisdiction the employer a carries on his business or profession or within whose jurisdiction the principal place of his establishment is situate; or b resides or any movable or immovable property of the establishment or the employer is situate. According to the act, any person who employees 20 or more employees is under an obligation to register himself under this Act. Leather and leather products industry. The contribution by the Central Government to the Family Pension Fund and the manner in which such contribution is to be made.
Appointment of officers 1 The Central Government shall appoint a Central Provident Fund Commissioner who shall be the chief executive officer of the Central Board and shall be subject to the general control and superintendence of that Board. The board is chaired by the Union Labour Minister of India. Special provisions relating to existing provident funds 1 Subject to the provisions of section 17 every employee who is a subscriber to any provident fund of an establishment to which this Act applies shall pending the application of a Scheme to the establishment in which he is employed continue to be entitled to the benefits accruing to him under the provident fund and the provident fund shall continue to be maintained in the same manner and subject to the same conditions as it would have been if this Act had not been passed. The conditions under which a member may be permitted to pay premia on life insurance, from the Fund. An equal contribution is payable by the employee also. Liability of manager, agent of employer for offences.
In order to submit a comment to this post, please write this code along with your comment: f91058052e64c26e645ad9376fe8da5a. Explanation 2 : For the purposes of this section retaining allowance means an allowance payable for the time being to an employee of any factory or other establishment during any period in which the establishment is not working for retaining his services. Maximum benefit of 6 lakh. My last working company was catvision Limited at Noida UttarPradesh. At the time of retirement, the accumulated amount is given to the employees, if certain conditions are satisfied. I wish the new website to be a great success. Expenses incurred in the administration of the Act.