EMPLOYEE’S PROVIDENT FUND
|EMPLOYEES' PROVIDENT FUNDS & MISCELLANEOUS PROVISIONS ACT, 1952|
Any other establishment employing 20 or more persons which
Central Government may, by notification, specify in this behalf.Applicability : Every
establishment which is a factory engaged in any industry which has 20 persons
Any establishment employing even less than 20 persons can be covered voluntarily u/s 1(4) of the Act.
Banks employing 20 or more employees.
|AATMA NIRBHAR BHARAT ROJGAR YOJANA (ABRY)|
New employees who have joined between 1-10-20 to 30-6-21 or who have exited during 31-3-20 and rejoin after 1-10-20 and having salary less then 15000 will receive the benefit of employees and employers contribution towards PF from Government ( You need not to pay single peny from pocket)
New PF Registration done before 30-6-21.
Any person who is employed for work of an establishment or employed through contractor in or in connection the work of an establishment where salary upto 15,000/: p.m. and optionally covered where salary exceeds Rs.15,000/-p.m. w.e.t. 01.09.2014.
I)Any person who is classifed as disabled employee under EPF scheme and working in private sector draw monthly wages upto 25,000/-.
II)Any person person employeed under any establishedment as a International worker.
III)Any new joinee who is drawing salary Rs. 15001/-& above above wel 1-9-2014, are not entitled for Pension Scheme.
Employees covered enjoy a benefit of Social Security in the form of an unattachable, unwithdrawable (except in severely restricted circumstances like buying a house, marriage/education etc.) Financial nest example to which employees and employers contribute equally throughout the covered person employment. This sum is payable normally on retirement or death. Other Benefits include Employees' Pension Scheme and Employees Depot Linked Insurance Fund
If any of the establishment is not satisfying above-mentioned condition and if the employer and majority of the employees are willing, the Act may be applicable to such establishment.