Page 250 - DMGT516_LABOUR_LEGISLATIONS

Pooja, Lovely Professional University Unit 10: Provident Fund and Gratuity Payment Acts

Unit 10: Provident Fund and Gratuity Payment Acts Notes

CONTENTS
Objectives
Introduction

10.1 The Employees' Provident Funds and Miscellaneous Provisions Act, 1952
10.2 The Employees' Provident Fund Scheme, 1952
10.3 Employer's Obligations

10.4 Employees Benefits under the Scheme
10.5 The Employees' Pension Scheme, 1995
10.6 Benefits under Pension Fund Scheme, 1995
10.7 The Employees' Deposit-linked Insurance Scheme, 1976
10.8 Payment of Gratuity Act, 1972

10.8.1 Benefits and Entitlement
10.8.2 Forfeiture
10.8.3 Nomination

10.8.4 Settlement of Claims
10.9 Summary
10.10 Keywords
10.11 Self Assessment
10.12 Review Questions

10.13 Further Readings

Objectives

After studying this unit, you will be able to:
Explain the Employees' Provident Funds and Miscellaneous Provisions Act, 1952

Discuss the Employees' Provident Fund Scheme, 1952
Understand the Employees' Pension Scheme, 1995
Explaing the Employees' Deposit-linked Insurance Scheme, 1976.
Describe the Payment of Gratuity Act, 1972

Introduction

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. The provisions are intended for the better future of the industrial
worker on his retirement and also for his dependents, in the event of his death in the course of

LOVELY PROFESSIONAL UNIVERSITY 245