Page 106 - DMGT306_MERCANTILE_LAWS_II

Unit 6: Employees’ Provident Fund Act, 1952

(3) Superannuation Notes

“Superannuation”, in relation to an employee, who is the member of the Pension Scheme,
means the attainment, by the said employee, of the age of fifty-eight years.

(4) Industry

“Industry” means any industry specified in Schedule I, and includes any other industry added to
the Schedule by notification under section 4;
(ia) “Insurance Fund” means the Deposit-linked Insurance Scheme framed under sub-section (2)
of section 6C;

(ib) “Insurance Scheme” means the Employees Deposit-linked Insurance Scheme framed under
sub-section (1) of section 6C;

(5) Employee

“Employee” means any person who is employed for wages in any kind of work, manual or
otherwise, in or in connection with the work of an establishment and who gets his wages
directly or indirectly from the employer, and includes any person,-
(i) employed by or through a contractor in or in connection with the work of the establishment;

(ii) engaged as an apprentice, not being an apprentice engaged under the Apprentices Act, 1961
(52 of 1961) or under the standing orders of the establishment;
 “exempted employee” means an employee to whom a Scheme or the Insurance Scheme, as
the case may be, would, but for the exemption granted under section 17, have applied;
 “exempted establishment” means an establishment in respect of which an exemption has
been granted under section 17 from the operation of all or any of the provisions of any
Scheme or the Insurance Scheme, as the case may be, whether such exemption has been
granted to the establishment as such or to any person or class of persons employed therein;

Self Assessment

Fill in the blanks:
4. ........................... means the Deposit-linked Insurance Scheme framed under sub-section (2)
of section 6C.

5. ........................... in relation to an employee, who is the member of the Pension Scheme,
means the attainment, by the said employee, of the age of fifty-eight years.
6. ........................... means the Employees’ Pension Fund established under sub-section (2) of
section 6A.

6.3 The Employees’ Pension Scheme, 1995

Employees’ Pension Scheme 1995 has been made applicable on 16.6.1995 retrospectively with
effect from 1.4.1993. This new Scheme replaces the erstwhile Family Pension Scheme, 1971.

6.3.1 Membership

1. Every member of the Employees’ Provident Scheme 1952 and opted for Employees Family
Pension Scheme 1971.

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