The document summarizes the key aspects of the Employees' Provident Fund Scheme in India. The scheme applies to establishments with 20 or more employees and provides for provident fund, pension fund and insurance benefits. It requires monthly contributions from employers and employees and entitles members to benefits such as partial withdrawals for purposes like housing, education, marriage, or full withdrawal upon retirement after age 55.

1. Employee Provident Fund Scheme THE EMPLOYEES’ PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952 – Act no 19 An Act to provide for the institution of provident funds, pension fund and deposit-linked insurance fund for employees in factories and other establishments. Business HR - Satya_Swapna@yahoo.com

3. Employee Provident Fund and Miscellaneous Provisions Act, 1952. a) Factory …. as in Schedule I … 20 or more persons are employed. Exception : Cinema Theatres …. 5 or more persons.  Applies: b) <20 by Central Government notification ** Voluntary Coverage - By Employer and Majority  Doesn’t apply: a) The co-operative societies employing less than 50 persons and working without the aid of power. b) Voluntary organizations engaged in leprosy eradication programs.

4. Employee Deposit Linked Insurance Scheme,1976 Employees Provident Fund Scheme, 1952 Employee Pension Scheme, 1995. Employee Employer Government 12% 0r higher 8.33%(max. of Rs 541 pm 3.67%(or less/Remaining) 1.16% 0.5% + Interest on the complete fund(8.5%) Contributions

6. Forms for Employee a) Form-19 : b) Form-20 : c) Form-10-D : d) Form-10-C : e) Form-5IF : f) Form-31 : g) Form-13 : To claim final settlement of Provident Fund by a member. To claim Provident Fund by nominee/legal heir on death of the member. To claim pension. (In duplicate : If within state, In triplicate : If outside state.) To claim withdrawal benefit/scheme certificate under Employees' Pension Scheme '95. To claim assurance benefit under Employees' Deposit Linked Insurance '76 by nominee/legal heir of a member. To claim temporary withdrawal/advance under Employees' PF scheme'52. To effect transfer of Provident Fund/Pension from one A/C to another. (Attested)

8. Accident Benefit = Avg of last 12 months if Average balance is > Rs.50,000/- then Insurance Amount = Rs. 50,000/- + 40% (Excess), (max of Rs. 1,00,000/- ) Double accident benefit can be allowed to the extent of the Sum Assured for an extra Premium @ Rs.0.75 per thousand Sum Assured per annum. Double accident cover under all group Schemes taken together should not exceed Rs.4.5 lacs .

9. Employee Pension Scheme Monthly pension = (Pensionable salary*Pensiable Service)/70 Pensionable Salary = Avg monthly salary of last 12 months Pensionable Service = Service in years Minimum 10 years eligible service will entitle for member pension >20 yrs – Pension age – 2yrs Additional years are added. Eg: Monthly Pension = (30000*22)/70 = Rs. 9429

10. Employees' Provident Fund Scheme Benefits 69(1)(a) Retirement after attaining 55 years of age. 69(1)(b) Retirement on account of total and permanent incapacity due to bodily or mental infirmity. 69(1)(d) Termination of service on retrenchment. 69(1)(dd) Termination on V.R.S Note: For female members leaving service for the purpose of getting married; waiting period not applicable. 69(1)(c) Migration from India for permanent settlement abroad or taking employment abroad. 69(1)(e)(i) transfer of a non retrenched employee from a closed establishment to uncovered establishment. 69(1)(e)(ii) Transfer of an employee from a covered establishment to an un-covered establishment under the same employer. 69(2) Other cases viz. Resignation, Leaving service, etc. Note: For female members leaving service for the purpose of getting married; waiting period not applicable. 69(1)(e)(iii) Members discharged & retrenchment compensation paid under I.D. Act 1947. Settlement under para 69 - To Member Payment Mode: a) Money order b) by deposit in payees' bank a/c/ c) through employer d) by depositing the cheque in payees' name or part of amount in annuity scheme in any nationalised bank. e) Payment by money order is allowed where the amount is not more than Rs. 2000/-. Immediate settlement without waiting period of two months Settlement only after a waiting