EMPLOYEES PROVIDENT

FUND ACT, 1952

PRESENTED BY;
SHIVANI JAIN
VANI GANGIL
INTRODUCTION
Employee's Provident Fund (EPF) is a benefit
scheme for salaried individuals for their old age
after their retirement. It is not only tax saving
instrument but it also provides security and
stability to the employee and his family as well.

The Employees’ Provident Fund Bill was passed

by both the Houses of the Parliament and it
received the assent of the President on 4th March,
1952.
 OBJECTIVES
Following are the objectives which are kept in mind before the
promulgation of Employees’ Provident Funds (EPF) And
Miscellaneous Provisions Act, 1952:
 To provide security to the industrial worker after his
retirement.
To provide money to the dependents of industrial worker
after early death.
To provide a kind of social security to the industrial
workers.
To provide the retirement and old age benefits.
To provide risk free deposit acceleration .
It also inculcate healthy habit of saving.
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. may notify;

c) Any other establishment so notified by the Central Government even if employing

less than 20 persons.
 BENEFITS
TAX FREE SAVINGS POST RETIREMENT EMERGENCIES
BENEFIT

LIFE INSURANCE LOSS OF INCOME UNIVERSAL

ACCESS
 MAJOR SCHEMES
Presently, the following three schemes are in operation under the act:

Employees' Provident Fund Scheme, 1952 called (EPF)

Employees' Pension Scheme, 1995 (replacing the Employees' Family Pension

Scheme, 1971) called (EPS)

Employees' Deposit Linked Insurance Scheme, 1976 called (EDLI)

 CALCULATION OF EPF
Employee Provident fund interest is calculated on the Contributions made by the
employee as well as the employer.

EMPLOYEE CONTRIBUTION TO EPF

EMPLOYER CONTRIBUTION TO EPF