EMPLOYEES PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT,1952 Part-01

EMPLOYEES PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT,1952

Applicability-: 

1) Every Establishment which is factory  engaged in any industry specified in schedule 1 and in which 20 or more persons are employed and 

2) Any other establishment 20 or more person which central govt.may by notification specify in these behalf.
3) Any establishment employing even less than 20 persons can be covered voluntary.
4) Banks employing 20 or more employees.

Eligibility-: 

1) Any person who is employed for work of an establishment or employed through contractor in or in connection with the work of an establishment where salary up to 15000/- pm and optionally covered where salary exceeds 15000/-pm.
2)Any person who is classified as disabled employee under new para 82 of the employees provident fund scheme 1952 and working in the private sector with monthly wages up to 25000/ pm provide they are 1952 on or after 01.04.2008.
3) Any person who is classified as international worker under new para 83 of th employees provident fund scheme 1952.
4) Any new Joinee who is drawing salary Rs.15001/- and above are not entitled for pension scheme.

Benefits-:

Employees covered enjoy a benefit of a social security in the form of an unattachable.unwithdrawlable, Financial nest age to which employees and employer contribute equally through the covered person employment this sum is payable normally on retirement or death. Other Benefits include Employees Pension Scheme and Employees Deposit Link Insurance Fund.


Pension Provision-:

Liable to be arrested without warrant being cognizable offenses Defaults by employer in paying contribution or inspection / Administration charges attract imprisonment up to 3 years and fines up to RS-10000/- For any retrospective application all dues have to be paid by employer with damages up to 100% of Arrears.



BENEFITS UNDER EMPLOYEES PROVIDENT FUND SCHEME- :

a) Benefits of Non- Refundable Advances-

TYPES OF BENEFITS	CONDITION	AMOUNT RECEIVABLE	DOCUMENT REQUIRED
1) Withdrawal for fund for (Para 68-B)
a) A purchase of Sites for Construction Of House	5 yrs of Membership of the Fund (min. Balance in member account should be Rs 1000/-)	24 months wages (Basic+DA) Or Member own share of cont.+Co’s share of Contribution with interest there on	Self Declaration
b)The  Construction of house	5 yrs of Membership of the Fund (min. Balance in member account should be Rs 1000/-)	36 Months wages (Basic+DA) OR Members share of Contribution +Co’s share of contribution with interest there on.	Self Declaration
c) The Purchase Of Dwelling Flats	5 yrs of Membership of the Fund (min. Balance in member account should be Rs 1000/-)	36 Months wages (Basic+DA) OR Members share of Contribution +Co’s share of contribution with interest there on.	Self Declaration
d) Addition, Alteration of improvement to the dwelling house.	5 yrs form the date of completion of dwelling house	12 months basic or members own share of contribution with interest there on	Self Declaration
2) Advance from the fund for repayment of the loan	10 yrs. Membership of the fund & member should have taken loan from govt.Body.	36 months of wages (Basic +DA) or Members own shares of contr.+ Co’s share of contr.with interest there on.	A certificate from the landing authority furnishing the detail of loan and outstanding amount.
3) Advance From the fund purchase or flat or construction of house.	1) Membership of registered society having 10 or more members. 2) 3 yrs membership & Min Balance in member current individually or with spouse should be Rs-20000/-	90 % of employer shares of cont. & int. & employees share of contribution & int.
4) Advance from the fund for illness viz.Hospitalisation for more than one month major surgical operation or suffering from T.B. Leprosy,Paralysis , cancer , Heart Ailments etc.	Stay in hospital at least for a month.	6 Month Wages (Basic+DA)	Self declaration
5) Advance from the fund for Marriage of self son/daughter/sister/brother etc.	7 yrs of membership of the fund & min. Balance in Members account should be Rs-1000/- pm	50% of members own share of contribution (Max Advance Allowed)	Self declaration
6) Advance from the Fund for post matriculation education of son/daughter	7 yrs membership of the fund & min.balance in members account should be Rs-1000/-	50% member own share of contribution (Max advances allowed)	Self declaration
7) Grant of advance in abnormal condition (para68L) natural calamities etc.	1) Certificate of damage from appropriate authority 2) state Govt.declaration.	Rs-5000/- or 50% of members own share of cont. (to apply within 4 months)	Self declaration than property has been damaged.

 b) a member employee can also withdrawal full amount standing to his credit in fund.

1) On resignation  2) on Retirement of the service on attaining at the age of 55 yrs 3) on retirement on account for permanent or total incapacity to work 4) Immediately before migration form india from india for permanent settlement abroad  of for taking up employment abroad 5) On termination due to voluntary retirement  scheme, retrenchment , closure of the factory/establishment.

SR No	Previous Provision	Amended Provision
1)	A Provident fund account will become Inoperative Account in the below cases	A Provident fund account will become Inoperative Account in the below cases
a)	Cessation Of Employment	If he has retire from the service after attaining the age of 55 years or
b)	...............................	If he has Migrate abroad permanently
c)	Death	If he Dies
d)	If any amount remitted to a person is receivable back undelivered and it is not claimed again within a period of 36 months from the date it becomes payable.	No change.
2)	A Provident fund account will not become Inoperative Account in the below cases	A Provident fund account will not become Inoperative Account in the below cases
a)	......................................	If the claim has be settled and is received back undelivered not due to the fault of the member, Such contribution shall not be transferred to “Inoperative Account”
b)	....................................................	In case of receipt of supplementary contribution on account of litigation such contribution shall not be transferred to “Inoperative Account”.

Rate of interest on monthly running balance as declared by central govt.

Years	Rate Of Interest P.A.	Years	Rate Of Interest P.A.
2002-2003	9.50%	2011-2012	8.25%
2003-2004	9.00% +0.5(Bonus)	2012-2013	8.50%
2004-2005	9.50%	2013-2014	8.75%
2005-2006	8.50%	2014-2015	8.75%
2006-2007	8.50%	2015-2016	8.80%
2007-2008	8.50%	2016-2017	8.65%
2008-2009	8.50%	2017-2018	8.55%
2009-2010	8.50%	2019-2020	8.65%
2010-2011	9.50%	2020-2021	8.65%

Rate of Damages on Delayed Payment of Contribution-: 


A) Up to 2 Months- 5% Per Annam               B) Above 2 Month & Up to 4 Months- 10% Per Annam 

C) Above Months & and up to 6 Months- 15 % Per Annam   D) Above 6 Months- 25% Per Annam.


Simple Interest @ 12 % P.A. is Charged separately On Delayed Payment Of contribution. 


Employee Deposit link Insurance (EDLI) ,1976 


Salary Slab-:

SALARY SLAB	RATE OF CONT.	ADM.CHARGES	INSPECTION CHARGES
Rs- 1000/- from 01.08.1976 to 28.02.1983	0.5% from 01.08.1976 till date	0.1% from 01.08.1976 to 30.09.1987	0.1% from 01.08.1976 to 31.12.1988
Rs- 1600/- from 01.03.1983 to 31.08.1985	0.5% from 01.08.1976 till date	0.1% from 30.09.1987 to Till date	0.005% From the 01.10.1989 till date
Rs- 2500/- from 01.09.1985 to 31.10.1990	0.5% from 01.08.1976 till date	0.1% from 30.09.1987 to Till date	0.005% From the 01.10.1989 till date
Rs- 3500/- from 01.11.1990 to 30.09.1994	0.5% from 01.08.1976 till date	0.1% from 30.09.1987 to Till date	0.005% From the 01.10.1989 till date
Rs- 5000/- from 01.10.1994 to 31.05.2001	0.5% from 01.08.1976 till date	0.1% from 30.09.1987 to Till date	0.005% From the 01.10.1989 till date
Rs- 6500/- from 01.06.2001 to Till Date	0.5% from 01.08.1976 till date	0.1% from 30.09.1987 to Till date	0.005% From the 01.10.1989 till date
Rs- 15000/- from  01.09.2014	0.5% from 01.08.1976 till date	0.1% from 30.09.1987 to Till date	0.005% From the 01.10.1989 till date
Rs-15000/-	0.5% from 01.08.1976 till date	NIL	0.005% From the 01.10.1989 till date