The Employees’ Provident Fund & Miscellaneous Provisions Act, 1952

This is an Act to provide for the institution of provident funds, pension fund, and deposit-linked insurance fund for employees. Employees' Provident Fund Organisation (EPFO) is one of the largest social security organisations in India in terms of the number of covered beneficiaries and the volume of financial transactions undertaken.

Compliances

Applicability

The Employees’ Provident Funds and Miscellaneous Provisions Act provides for compulsory contributory fund for the future of an employee after his/her retirement or for his/her dependents in case of the employee's early death. It extends to the whole of India except the State of Jammu and Kashmir and is applicable to:

  • Every factory engaged in any industry specified in Schedule 1 in which 20 or more persons are employed.
  • Every other establishment employing 20 or more persons or class of such establishments that the Central Govt. may notify.
  • Any other establishment so notified by the Central Government even if employing less than 20 persons.

Every employee, including the one employed through a contractor (but excluding an apprentice engaged under the Apprentices Act or under the standing orders of the establishment and casual laborers), who is in receipt of wages up to Rs.15,000 p.m. shall be eligible for becoming a member of the fund. The condition of three months continuous service or 60 days of actual work for membership of the scheme has been removed.

Related Acts

More Notifications

Discuss business needs, find out pricing or get a demo. We would love to talk.

  • Product
  • HR Software
  • Payroll Software
  • Leave Management
  • Attendance Management
  • Performance Management
  • Employee Self Service
  • Employee Engagement
  • Unite Marketplace
  • Recruitment Software
  • greytHR Service Status
greytHR-logo
GDPR Compliant certification badge
Soc2 certification badge
ISO Certification Badge
WhatsApp LogoMessage us on WhatsApp
© 2024 Greytip Software Pvt. Ltd.
Privacy PolicyTerms of Use
India
FacebookTwitterLinkedInInstagramYouTube