Page 312 - DCOM404_CORPORATE_LEGAL_FRAMEWORK

Unit 13: Industrial Law

Notes
to the Supreme Court, the pattern followed by the method of 26 working days appears to
be legitimate and reasonable.
Question
Do you agree to the decision of the Supreme Court? Justify.

13.9 Summary

The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 is a social welfare
legislation enacted for the purpose of institution of provident fund for employees in
factories and other establishments.
This Act provides for the institution of compulsory provident fund, family pension fund
and deposit linked insurance fund for the benefit of the employees.
Gratuity as an additional retirement benefit has been secured by labour in numerous
instances, either by agreement or by awards.
The employee and the employer or any other person raising the dispute regarding the
amount of gratuity, may make an application to the controlling authority to decide the
dispute.
Nomination once made can be modified, after giving due notice to the employer. If a
nominee predeceases the employee, a fresh nomination is required to be made.
The purpose of avoiding any payment makes any false statement or false representation
is punishable with imprisonment up to 6 months and/or fined up to 1000.

13.10 Keywords

Disablement: It is the permanent inability or reduction in the earning capacity of the workmen.
Employee: Any person who is employed for wages in any kind of work, manual or in connection
with the work of an establishment and who gets wages directly or indirectly from the employer
and includes any person employed by or through a contractor in or in connection with the work
of the establishment.
Employer: The owner or occupier of the establishment.

EPFO: Employees Provident Fund Organisation
Gratuity: It is a sort of an award which an employer pays out of his gratitude, to an employee for
his long and meritorious service, at the time of his retirement or termination.
Retirement: It is defined as the termination of the service of an employee other than on
superannuation.
Superannuation: It is the attainment of such age by the employee as is fixed in the contract or
conditions of service as the age on the attainment of which he has to leave the employment.

Wages: The compensation received by the worker for his services.

13.11 Self Assessment

State whether the following statements are true or false:
1. To qualify for the old-age insurance benefits, a person must have reached the retirements
age & be fully insured.

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