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Provident Fund Consultants
The Employees'' Provident Funds & Miscellaneous Provisions Act, 1952 has been enacted with the main objective of protecting the interest of the employees after their retirement and their dependents after death of the employee. The Act provides insurance to workers and their dependents against risks of old age, retirement, discharge, retrenchment or death.
- The Employees'' Provident Funds & Miscellaneous Provisions Act, 1952 extends to whole of India except the state of Jammu & Kashmir.
- It applies on every establishment employing 20 or more persons & engaged in industry specified in Schedule I of the Act or any other activity notified by the Central Government.
- It applies to all departments / branches of an establishment wherever situated.
- Any establishment employing even less than 20 persons can be covered voluntarily under section 1(4) of the Act.
- Employees drawing salary / wages at the time of joining up-to Rs. 6,500/- per month are governed by the provisions of the Act
- Employees drawing salary / wages more than Rs. 6,500/- per month may also be brought under the purview of the Act at the discretion of the management and by furnishing a joint undertaking to the Provident Fund Commissioner
- Employees engaged through the Contractor in or in connection with the work of an establishment are also covered under the purview of the Act