Page 255 - DMGT516_LABOUR_LEGISLATIONS

Labour Legislations

Notes (c) Migration from India for permanent settlement abroad; and
(d) Termination of service in the course of mass retrenchment (involving 3 or more
persons). The membership for this purpose is reckoned from the time of joining the
covered establishment till the date of the settlement of the claim.
2. A member can withdraw up to 90% of the amount of provident fund at credit after attaining
the age of 54 years or within one year before actual retirement on superannuation,
whichever is later.

3. The Scheme provides for non-refundable partial withdrawals/advances to meet certain
contingencies:

(a) Financing of life insurance policies;
(b) House-building;
(c) Purchasing shares of consumer co-operative credit housing societies;

(d) During temporary closure of establishments;
(e) Illness of member, family members;
(f) Member's own marriage or for the marriage of his/her sister, brother or daughter/
son and post-matriculation education of children;
(g) Damages to movable and immovable property of members due to a calamity of
exceptional nature;
(h) Unemployment relief to individual retrenched members;

(i) Cut in supply of electricity to the factory/establishment; and
(j) Grant of advance to members who are physically handicapped for the purchase of
equipment.

4. If there is no nominee, the amount shall be paid to the members of the family in equal
shares except:

(a) Sons who have attained majority;
(b) Sons of a deceased son who have attained majority;

(c) Married daughters whose husbands are alive;
(d) Married daughters of a deceased son whose husbands are alive.
5. The nomination form shall be filled in duplicate and one copy duly accepted by the
provident fund office will be kept by members. In case of change, a separate form for a
fresh nomination should be filled in duplicate.

6. 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:
(a) Re-employment in an establishment whether exempted or unexempted, in another
region/sub-region;
(b) Re-employment in an exempted establishment in the same region/sub-region;

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