Page 101 - DMGT306_MERCANTILE_LAWS_II

Mercantile Laws – II Pooja, Lovely Professional University

Notes Unit 6: Employees’ Provident Fund Act, 1952

CONTENTS
Objectives
Introduction
6.1 Genesis of the Act

6.1.1 Object of the Act
6.1.2 Applicability of the Act
6.1.3 Administration
6.2 Definitions
6.3 The Employees’ Pension Scheme, 1995

6.3.1 Membership
6.3.2 Option Requirement
6.3.3 Contribution
6.3.4 Service for Pension
6.3.5 Determination of Pensionable Salary
6.3.6 Benefits
6.3.7 Commutation of Pension

6.3.8 Withdrawal Benefits
6.3.9 Administration
6.4 The Employees’ Provident Fund Scheme, 1952
6.4.1 EPF Interest Rate
6.4.2 Withdrawals
6.4.3 Nomination

6.4.4 Transfer
6.4.5 Account Slips
6.4.6 Exemption
6.5 The Employees’ Deposit-linked Insurance Scheme, 1976
6.6 Determination and Recovery of Money due to Employer
6.6.1 Determination of Money due to Employer
6.6.2 Recovery of Money due to Employer and Contractor

6.7 Penalties under this Act
6.8 Summary
6.9 Keywords
6.10 Review Questions
6.11 Further Readings

96 LOVELY PROFESSIONAL UNIVERSITY