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4 EPFO Current PDF
4 EPFO Current PDF
Employees Provident fund came into existence with the promulgation of the
employees provident fund ordinance on 15 th Nov 1951. Later it was replaced by
employees provident fund act 1952. Now this act is referred as employees
provident fund and miscellaneous provisions act 1952 (came into effect on 4
March 1952) . It extends to the whole india except Jammu and Kashmir.
The Employees' Provident Fund Organisation (abbreviated to EPFO), is a
statutory body of the Government of India under the Ministry of Labour and
Employment. It administers a compulsory contributory Provident Fund Scheme,
Pension Scheme and an Insurance Scheme. The schemes cover Indian workers
as well as International workers (for countries with which bilateral agreements
have been signed. The EPFO's apex decision making body is the Central Board
of Trustees (CBT)
National Child Labour Policy, the NCLP Scheme was started in 1988 to
rehabilitate child labour. The Scheme seeks to adopt a sequential approach with
focus on rehabilitation of children working in hazardous occupations &
processes in the first instance. Under the Scheme, after a survey of child labour
engaged in hazardous occupations & processes has been conducted, children are
to be withdrawn from these occupations & processes and then put into special
schools in order to enable them to be mainstreamed into formal schooling
system.
Payment of Bonus (Amendment) Bill, 2015- law is being changed to make more
employees eligible for bonus and double such payments. It proposes to raise the
salary ceiling for statutory bonus payments to Rs. 21,000 per month from Rs.
10,000 specified under the 1965 law. The Small Factories (Regulation of
Employment and Conditions of Services) Bill, for instance, seeks to make it
easier for manufacturing firms to employ upto 40 workers by exempting them
from compliance with six labour laws which include the Factories Act, the
Industrial Disputes Act of 1947 and the Shops and Establishment Acts of
respective states. The code on wages aims to replace four different laws
pertaining to salaries — the Payment of Wages Act of 1936, the Minimum
Wages Act of 1948, Payment of Bonus Act, 1965 and the Equal Remuneration
Act, 1976. Similarly, the code on industrial relations would substitute three
different laws — the Trade Unions Act of 1926, the Industrial Disputes Act and
the Industrial Employment (Standing Orders) Act of 1946.
Child Labour (Protection and Regulation) Amendment Bill, 2012- The Bill
proposes that children below fourteen years of age may only be allowed to work
in their own family enterprises. It also bars employment of children in
hazardous occupations till the age of 18 years. Nobel laureate Kailash Satyarthi
has, however, raised concerns about the Bill reducing the list of such
occupations from 83 to just three – mining, inflammable substances and
explosives and hazardous occupations as per the Factories Act. This would
leave the door open for children to be employed in sectors that are largely
family-run like the carpet industry, embroidery and agriculture.
Payment of bonus amendment bill 2015- To make more workers eligible for
bonus and double bonus payout.
Child labour protection and regulation bill 2012- bars children till age of 18
years to work in hazardous industries but allow under age of 14 to work in
family enterprise
Labour codes on wages bill- 2015 – to replace four laws pertaining to minimum
wages payment of salaries and benefits.
Labour code on industrial relation bill 2015- To replace three labour laws
including the trade union act 1926 and industrial dispute act of 1947.
Source-
http://search.epfoservices.org:81/eNewsletters_PDFs/Newsletter_Oct2015.pdf
http://www.epfindia.com/site_en/index.php
http://www.thehindu.com/news/national/epfo-savings-to-cross-rs10-lakhcr-
mark/article7983918.ece