Employees Provident Funds & Miscellaneous Provisions Act, 1952

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Employees Provident Funds & Miscellaneous Provisions Act, 1952 is another legislation enacted by central Government to provide social security to employees as it provides for the institution of Provident Fund, Pension Fund and Deposit Linked Insurance Fund for employees working in factories and other establishments. 

Provident fund is fund created by employer and employee for the benefit of employee. In EPF contributions are made by employer and employees and contributions are invested in investments. From the investments incomes are received and incomes are also reinvested. The total amount of EPF is paid to employee as the time of his retirement. 

This amount can be given to the family of employees on the death of employees. 

APPLICABILITY OF THE ACT Section 1
 (2)It extends to the whole of India except the State of Jammu and Kashmir.

Number of employees Section 1(3)
Subject to the provisions contained in section 16, it applies -
(a) to every establishment which is a factory engaged in any industry specified in Schedule I and in which 20 or more persons are employed and

(b) to any other establishment employing 20 or more persons or class of such establishments which the Central Government may, by notification in the Official Gazette, specify, in this behalf:

CENTRAL BOARD Section 5A
(1) The Central Government may, by notification in the Official Gazette, constitute, the Central Board consisting of the following persons as members, namely:-
A Chairman and 
A Vice-Chairman to be appointed by the Central Government;
The Central Provident Fund Commissioner, Ex officio;
Not more than five persons appointed by the Central Government from amongst its officials;
Not more than fifteen persons representing Governments of such States as the Central Government may specify in this behalf, appointed by the Central Government;
Ten persons representing employers of the establishments to which the Scheme applies, appointed by the Central Government after consultation with such organisations of employers as may be recognised by the Central Government in this behalf; and
Ten persons representing employees in the establishments to which the Scheme applies, appointed by the Central Government after consultation with such organisations of employees as may be recognised by the Central Government in this behalf. 

EXECUTIVE COMMITTEE Sectin 5A
(1) The Central Government may, by notification in the Official Gazette, constitute, with effect from such date as may be specified therein, an Executive Committee to assist the Central Board in the performance of its functions.

COMPOSITION OF EXECUTIVE COMMITTEE
(2) The Executive Committee shall consist of the following persons as members, namely:-
(a) a Chairman appointed by the Central Government from amongst the members of the Central Board:
(b) two persons appointed by the Central Government 
(c) three persons appointed by the Central Government 
(d) three persons representing the employers 
(e) three persons representing the employees 
(f) the Central Provident Fund Commissioner, ex-officio.

These online MCQ Mock tests and MCQ questions includes all main concepts of the chapter (Employees Provident Funds & Miscellaneous Provisions Act, 1952) in CS Executive Module II Industrial, Labour and General Law (ILGL MCQ based OMR) Exam.

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