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Unit 11: Employees’ Provident Fund Act, 1952

The Scheme provides for non-refundable partial withdrawals/advances to meet certain Notes
contingencies
1. Financing of life insurance policies;
2. House-building;
3. Purchasing shares of consumers’ co-operative credit housing societies;
4. During temporary closure of establishments;

5. Illness of member, family members;
6. Member’s own marriage or for the marriage of his/her sister, brother or daughter/ son and
post-matriculation education of children;

7. Damages to movable and immovable property of members due to a calamity of exceptional
nature;
8. Unemployment relief to individual retrenchee members;
9. Cut in supply of electricity to the factory/establishment; and

10. Grant of advance to members who are physically handicapped for the purchase of
equipment.

11.4.3 Nomination

If there is no nominee, the amount shall be paid to the members of the family in equal shares
except:
l z Sons who have attained majority;

l z Sons of a deceased son who have attained majority;
l z Married daughters whose husbands are alive;
l z Married daughters of a deceased son whose husbands are alive.
The nomination form shall be filled in duplicate and one copy duly accepted by the provident
fund office will be kept by members. Incase of change, a separate form for a fresh nomination
should be filled in duplicate.

11.4.4 Transfer

When a member leaves service in one establishment and obtains re-employment in+ another
establishment, whether exempted or unexempted, in the same region or in another region, he is
required to apply for the transfer of his provident fund account to the Regional Provident Fund
Commissioner in the prescribed form. The actual transfer of the provident fund accumulations
with interest thereon takes place in cases of:
1. Re-employment in an establishment, whether exempted or unexempted, in another region/
sub-region;
2. Re-employment in an exempted establishment in the same region/sub-region;

3. Leaving service in an exempted establishment and re-employment in an unexempted
establishment;
4. Re-employment in an establishment not covered under the Act

LOVELY PROFESSIONAL UNIVERSITY 187