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the employee’s provident fund and miscellaneous provisions Act, 1952

The Employees Provident Fund is set up under the Central Act viz. Employees Provident Fund and Miscellaneous Provisions Act, in the year 1952. It is applicable throughout the country (except Jammu and Kashmir)  It is applicable to almost all establishments falling under the industries/class of establishments, wherein 20 persons are employed.  In the case of cinema theatres workers, it is applicable to such establishments wherein 5 persons are employed.  Benefits to an employee are provided through the schemes framed under the Act.  Provident Fund benefits are provided under the Employees Provident Funds Scheme, 1952.  Pension Benefits are provided under the Employees Pension Scheme’ 95  Insurance Benefits are provided under the Employees Deposit Linked Insurance Scheme, 1976.  A member of Employees Provident Fund is automatically eligible for Pension and Insurance benefits without paying any additional amount of contribution.

 Out of the employer’s share of contribution 8.  The members are informed of the balance of their Provident Fund accumulations every year through Annual Statements of Accounts (Form23).  Every employee is required to pay Contribution to the Provident Fund at 12% / 10% of the Basic Wages and Dearness Allowance. the Provident Fund accumulations can be withdrawn in full by submitting application in Form 19.  Every employee at the time of joining the PF Scheme should execute a nomination in Form -2.  All employees are eligible to become a member of provident fund from the date of joining the establishments. .  On retirement or on leaving service.33% of pay is diverted towards Pension Fund and the balance will be credited to Members Provident Fund Account.Employee Benefits under Provident Fund  The Provident Fund Act is applicable to specified establishments in which 20 or more persons (including contract employees) are working.  The employer will also pay an equal amount of contribution.

 The pension is payable on attaining the age of 50 years. after completion of 50 years Form 10D is submitted along with the Scheme Certificate to apply for Pension. .  Where an employee has not served for 10 years on the date of leaving service.  While in employment. At Present the complete details of all the employees are updated online with the PF office.  Family Pension is payable in case of death of a member:  After leaving the employment.Employee Benefits under Pension Scheme  The Employee is eligible for Pension after 10 years of service. whether he is in service or superannuated. At the time of applying for PF for any employee the details in the Form filled should match the details updated online.  If less than 50 years at the time of leaving the job.  At the time of leaving the job Form 10C is submitted along with Form 19 to apply for Pension if above 50 years. he may obtain a Scheme Certificate so as to continue his membership during un-employment period and the same can be used to count the previous service as and when he joins another establishment covered by the Act.  After drawing the pensions.