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Employees' Provident Funds and Miscellaneous Provisions Act, 1952.   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Appropriate government   ,[object Object],[object Object],[object Object]
Pay  ,[object Object],[object Object],[object Object],[object Object],[object Object]
"employee"  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
5. Employees Provident Funds Scheme ADMINISTRATION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
5. Employees Provident Funds Scheme ADMINISTRATION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
5. Employees Provident Funds Scheme ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
5. Employees Provident Funds Scheme Rate of Contribution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
5. Employees Provident Funds Scheme ,[object Object],[object Object],[object Object],[object Object]
5. Employees Provident Funds Scheme ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
5. Employees Provident Funds Scheme Non refundable withdrawal for the following reasons a) Purchase of Dwelling site.         b)   Purchase of Dwelling House/Flat.         c)   Construction of a house.         d)   Repayment of Housing Loan to State Government Housing Board or                any other Government recognized Housing Finance Body.         e)   Illness viz. Hospitalization for more than a month major surgical                operations or suffering from T.B., leprosy, paralysis, cancer, heart                ailment etc.         f)   Marriage of Self/Son/Daughter/Sister/Brother.         g)   Post Matriculation Education of Son/Daughter.         h)   Damage to the property due to Natural Calamity (Flood/Earth                Quake).
Conditions for withdrawal 1.   Purchase of site       for construction      of House. Minimum 5 yrs. of membership of the Fund (Min. Balance in member's a/c should be Rs. 1000/-) 24 Months wages (Basic + D.A.) or Member's own share of contr. with interest thereon,  whichever is less. 1.  Certified true copy of Allotment       Order (In case the purchase is       through an agency) 2.  Certified true copy of Title - Deed,       if purchase is from an individual. 3.  Certified true copy of the       Registered Agreement with the       Seller.
Conditions for withdrawal 2.    Construction of       House Minimum 5 yrs. of membership of the Fund (Min. Balance in member's a/c should be Rs. 1000/-) 36 Months wages (Basic + D.A.) or Member's own share of contr. with interest thereon,  whichever is less.  Same as per item (1) Certified true copy of the plan approved by the Collector's Office or Muncipal Corporation or the local body as the case may be.
Conditions for withdrawal 3) Purchase of      dwelling Flat /      House. Minimum 5 yrs. of membership of the Fund (Min. Balance in member's a/c should be Rs. 1000/-) 36 Months wages (Basic + D.A.) or Member's own share of contr. with interest thereon,  whichever is less. 1) Certified true copy of Allotment      Order(if purchase is through      agency) 2) Certified true copy of the       agreement with Seller, duty       registered under the Indian       Registration Act. 1908 3)  Non-encumbrance Certificate       from the Solicitor 4)  Undertaking from the member for       not selling/transferring /       mortgaging the property for next       5 yrs. 5)  Valuation certificate from       architect. 6)  Letter of expected date of       completion of Building. 7)  Receipt of advance payment       towards flat. 8)  If purchase is in a co-op Hsg       society, then Registration No. of       the Society. 9)  Commencement certificate in       case of a new construction.
Conditions for withdrawal 4)Additions,     Alterations or     Improvements to     the dwelling flat /     house. 5 yrs. from the date of completion of dwelling flat/ house. 12 months basic + DA or members qwn share of contribution   with interest thereon, whichever is less. 1) Title of flat/house 2) No objection letter from      Municipal Corporation/Society. 3)  Architect letter stating the       approximate cost.
Conditions for withdrawal 5) Advance from the      fund for      repayment of loan. Minimum 10 yrs. Membership of the fund and member should have taken loan from a Govt body. 36 months wages (Basic + DA) or Member's own share of contr. + Co's share of contr. with interest thereon,  whichever is less. A certificate from the Govt. lending authority furnishing the details of loan and outstanding amount.
Conditions for withdrawal 6) Advance from the      fund for illness viz.      Hospitalisation for      more than a      month, major      surgical        operation or     suffering from     T.B.,Leprosy,     Paralysis, Cancer,     Heart Ailment etc. Stay in hospital at least for a month. 6 months wages (Basic + DA) A certificate from the Medical Practitioner for hospitalisation or operation.
Conditions for withdrawal 7) Advance from the      fund for marriage      of Self  / Son /     Daughter / Sister /     Brother etc. 7 yrs. membership of the fund and min. balance in member's a/c should be Rs. 1000/- 50% of member's own share of contribution (Max. number of times advance allowed : 3) Marriage invitation card
Conditions for withdrawal 8) Advance from the      fund for education      of Son / daughter 7 yrs. membership of the fund and min. balance in member's a/c should be Rs. 1000/- 50% of member's own share of contribution (Max. number of times advance allowed : 3) Certificate from the Institution regarding the course of study and anticipated expenditure.
Conditions for withdrawal 9) Grant of advance      in abnormal      condition. Natural      calamities etc. 1) Certificate of damage      from appropriate     authority 2) State Govt. declaration. Rs 5000/- or 50% of member's own share of cont. (To apply  within 4 months) Certificate from the Appropriate Authority.
EMPLOYEE'S DEPOSIT-LINKED INSURANCE SCHEME 1976  APPLICABILITY     : It is applicable to all establishments wherein the EPF and Misc. Provisions. Act, 1952 is applicable.                                   ELIGIBILITY  : All the employees contributing towards EPF Scheme are eligible.                                      CONTRIBUTION    : The contribution  payable  only by the employer  is  0.50 of pay  (Basic + D.A. + Retaining  Allowance if any).                                       
EMPLOYEE'S DEPOSIT-LINKED INSURANCE SCHEME 1976  CONTRIBUTIONS : Where the monthly pay exceeds Rs 6500/-, the total                                      contribution payable by the employer it shall be limited to                                      salary Rs. 6500/- only. BENEFITS:  In the event of  death while in service of the member , the  nominees of the deceased shall in addition to PF/EPS accumulation, be   paid on amount equal to the average balance in the   fund, during the preceding one year,  not exceeding Rs.    60,000/-  (w.e.f. 01.06.2000) subject to the average    balance (both shares and interest) in the account of the    deceased not below Rs. 500/- during the preceding one     year or during the period of his membership, whichever     is less.                                    
Insurance benefit payable to whom?  To the person nominated to receive PF amount In the absence of nomination- to all family members in equal share. no share shall be payable to –             (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;        if there is any member of the family other than those specified in clauses (a), (b), (c) and (d):               Provided further that the widow or widows, and the child or children of a deceased son shall receive between them in equal parts only the share which that son would have received if he had survived the employee and had not attained the age of majority at the time of his death.      
Insurance benefit payable to whom?         (3)  In any case to which the provisions of sub-paragraphs 1 and 2 do not apply the whole amount shall be payable to the person legally entitled to it.        (4)  If a person  who is eligible to receive assurance Scheme benefit of the deceased member in terms of sub-paragraph 1,2 or 3 is  charged with the offence of murdering the member or for abetting in the commission of such  an offence , his claim to receive assurance benefit shall remain suspended till the conclusion of the criminal proceedings instituted against him.  If on the  conclusion of the criminal proceedings, the person concerned is : -  (a)         convicted for the murder or abetting the murder of the member, he shall be debarred from receiving his share of deposit linked assurance benefit which shall be payable to other eligible members of any of the family; or (b)         acquitted of the charge of murdering or abetting in the murder of the member, his share shall be payable to him.
6A. Employees' Pension Scheme CONTRIBUTION   ,[object Object],[object Object],[object Object]
Pension Benefits Superannuation  pension if retires on attaining the age of 58 years after rendering at least 20 years of service Retirement pension   for exit before 58 years of age after rendering 20 years of service Short service pension  for at least 10 years service but less than 20 years service Formula  Pensionable salary X pensonable service --------------------------------------------------- 70
Monthly reduced pension ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Permanent and total disablement pension ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Commutation of pension Member has the option to commute upto 1/3 of the pension  To receive  hundred times of the monthly pension so commuted as commuted value of pension. Example  Normal pension is Rs.600 Commuted  1/3 1/3X600X100= Rs.20000 payable at the time of exercising the option Balance of pension payable every month is Rs.400
13. Option for return of capital A member may opt to draw a lesser pension  and avail return of capital under any of the following three schemes Scheme 1 . Revised pension during life time of member with return of capital on his death Rate of pension : 90% of original monthly pension  Return of capital : 100 times of the original monthly pension on death of member  to the nominee
13. Option for return of capital ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
13. Option for return of capital Scheme 3. Pension for a fixed period of 20 years notwithstanding whether the member lives for that period or not Rate of pension : 87.5 of the original monthly pension for a fixed period of 20 years.  The pension will cease thereafter Return of capital : 100 times the original monthly pension at the end of 20 years from the date of commencement of pension  to the member if he is alive  otherwise to his nominee . Options shall be exercised at the time of making application to the pension.
16. Pension to family members on the death of a member ,[object Object],[object Object],[object Object],[object Object]
Monthly Widow’s Pension ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Monthly children’s pension ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Monthly orphan pension ,[object Object],[object Object],[object Object],[object Object]
Nominee’s pension ,[object Object],[object Object],[object Object]
Pension to parents ,[object Object],[object Object],[object Object],[object Object],[object Object]
10. Protection against attachment   ,[object Object],[object Object],[object Object]
11. Priority of payment of contributions over other debts   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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6554103 Pf Act

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  • 11. 5. Employees Provident Funds Scheme Non refundable withdrawal for the following reasons a) Purchase of Dwelling site.         b)   Purchase of Dwelling House/Flat.         c)   Construction of a house.         d)   Repayment of Housing Loan to State Government Housing Board or               any other Government recognized Housing Finance Body.         e)   Illness viz. Hospitalization for more than a month major surgical               operations or suffering from T.B., leprosy, paralysis, cancer, heart               ailment etc.         f)   Marriage of Self/Son/Daughter/Sister/Brother.         g)   Post Matriculation Education of Son/Daughter.         h)   Damage to the property due to Natural Calamity (Flood/Earth               Quake).
  • 12. Conditions for withdrawal 1.   Purchase of site      for construction      of House. Minimum 5 yrs. of membership of the Fund (Min. Balance in member's a/c should be Rs. 1000/-) 24 Months wages (Basic + D.A.) or Member's own share of contr. with interest thereon, whichever is less. 1.  Certified true copy of Allotment      Order (In case the purchase is      through an agency) 2.  Certified true copy of Title - Deed,      if purchase is from an individual. 3.  Certified true copy of the      Registered Agreement with the      Seller.
  • 13. Conditions for withdrawal 2.   Construction of      House Minimum 5 yrs. of membership of the Fund (Min. Balance in member's a/c should be Rs. 1000/-) 36 Months wages (Basic + D.A.) or Member's own share of contr. with interest thereon, whichever is less. Same as per item (1) Certified true copy of the plan approved by the Collector's Office or Muncipal Corporation or the local body as the case may be.
  • 14. Conditions for withdrawal 3) Purchase of     dwelling Flat /     House. Minimum 5 yrs. of membership of the Fund (Min. Balance in member's a/c should be Rs. 1000/-) 36 Months wages (Basic + D.A.) or Member's own share of contr. with interest thereon, whichever is less. 1) Certified true copy of Allotment     Order(if purchase is through     agency) 2) Certified true copy of the      agreement with Seller, duty      registered under the Indian      Registration Act. 1908 3)  Non-encumbrance Certificate      from the Solicitor 4)  Undertaking from the member for      not selling/transferring /       mortgaging the property for next       5 yrs. 5)  Valuation certificate from       architect. 6)  Letter of expected date of      completion of Building. 7)  Receipt of advance payment      towards flat. 8)  If purchase is in a co-op Hsg      society, then Registration No. of      the Society. 9)  Commencement certificate in       case of a new construction.
  • 15. Conditions for withdrawal 4)Additions,     Alterations or    Improvements to     the dwelling flat /     house. 5 yrs. from the date of completion of dwelling flat/ house. 12 months basic + DA or members qwn share of contribution  with interest thereon, whichever is less. 1) Title of flat/house 2) No objection letter from      Municipal Corporation/Society. 3)  Architect letter stating the      approximate cost.
  • 16. Conditions for withdrawal 5) Advance from the     fund for      repayment of loan. Minimum 10 yrs. Membership of the fund and member should have taken loan from a Govt body. 36 months wages (Basic + DA) or Member's own share of contr. + Co's share of contr. with interest thereon, whichever is less. A certificate from the Govt. lending authority furnishing the details of loan and outstanding amount.
  • 17. Conditions for withdrawal 6) Advance from the     fund for illness viz.     Hospitalisation for     more than a      month, major      surgical        operation or    suffering from     T.B.,Leprosy,     Paralysis, Cancer,     Heart Ailment etc. Stay in hospital at least for a month. 6 months wages (Basic + DA) A certificate from the Medical Practitioner for hospitalisation or operation.
  • 18. Conditions for withdrawal 7) Advance from the     fund for marriage     of Self  / Son /    Daughter / Sister /    Brother etc. 7 yrs. membership of the fund and min. balance in member's a/c should be Rs. 1000/- 50% of member's own share of contribution (Max. number of times advance allowed : 3) Marriage invitation card
  • 19. Conditions for withdrawal 8) Advance from the     fund for education     of Son / daughter 7 yrs. membership of the fund and min. balance in member's a/c should be Rs. 1000/- 50% of member's own share of contribution (Max. number of times advance allowed : 3) Certificate from the Institution regarding the course of study and anticipated expenditure.
  • 20. Conditions for withdrawal 9) Grant of advance     in abnormal     condition. Natural     calamities etc. 1) Certificate of damage     from appropriate     authority 2) State Govt. declaration. Rs 5000/- or 50% of member's own share of cont. (To apply within 4 months) Certificate from the Appropriate Authority.
  • 21. EMPLOYEE'S DEPOSIT-LINKED INSURANCE SCHEME 1976 APPLICABILITY     : It is applicable to all establishments wherein the EPF and Misc. Provisions. Act, 1952 is applicable.                                  ELIGIBILITY  : All the employees contributing towards EPF Scheme are eligible.                                     CONTRIBUTION    : The contribution payable only by the employer is 0.50 of pay (Basic + D.A. + Retaining Allowance if any).                                      
  • 22. EMPLOYEE'S DEPOSIT-LINKED INSURANCE SCHEME 1976 CONTRIBUTIONS : Where the monthly pay exceeds Rs 6500/-, the total                                     contribution payable by the employer it shall be limited to                                     salary Rs. 6500/- only. BENEFITS: In the event of death while in service of the member , the nominees of the deceased shall in addition to PF/EPS accumulation, be paid on amount equal to the average balance in the fund, during the preceding one year, not exceeding Rs.   60,000/- (w.e.f. 01.06.2000) subject to the average   balance (both shares and interest) in the account of the   deceased not below Rs. 500/- during the preceding one    year or during the period of his membership, whichever    is less.                                    
  • 23. Insurance benefit payable to whom? To the person nominated to receive PF amount In the absence of nomination- to all family members in equal share. no share shall be payable to –            (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;       if there is any member of the family other than those specified in clauses (a), (b), (c) and (d):             Provided further that the widow or widows, and the child or children of a deceased son shall receive between them in equal parts only the share which that son would have received if he had survived the employee and had not attained the age of majority at the time of his death.      
  • 24. Insurance benefit payable to whom?       (3)  In any case to which the provisions of sub-paragraphs 1 and 2 do not apply the whole amount shall be payable to the person legally entitled to it.       (4)  If a person  who is eligible to receive assurance Scheme benefit of the deceased member in terms of sub-paragraph 1,2 or 3 is charged with the offence of murdering the member or for abetting in the commission of such  an offence , his claim to receive assurance benefit shall remain suspended till the conclusion of the criminal proceedings instituted against him.  If on the  conclusion of the criminal proceedings, the person concerned is : - (a)        convicted for the murder or abetting the murder of the member, he shall be debarred from receiving his share of deposit linked assurance benefit which shall be payable to other eligible members of any of the family; or (b)        acquitted of the charge of murdering or abetting in the murder of the member, his share shall be payable to him.
  • 25.
  • 26. Pension Benefits Superannuation pension if retires on attaining the age of 58 years after rendering at least 20 years of service Retirement pension for exit before 58 years of age after rendering 20 years of service Short service pension for at least 10 years service but less than 20 years service Formula Pensionable salary X pensonable service --------------------------------------------------- 70
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  • 29. Commutation of pension Member has the option to commute upto 1/3 of the pension To receive hundred times of the monthly pension so commuted as commuted value of pension. Example Normal pension is Rs.600 Commuted 1/3 1/3X600X100= Rs.20000 payable at the time of exercising the option Balance of pension payable every month is Rs.400
  • 30. 13. Option for return of capital A member may opt to draw a lesser pension and avail return of capital under any of the following three schemes Scheme 1 . Revised pension during life time of member with return of capital on his death Rate of pension : 90% of original monthly pension Return of capital : 100 times of the original monthly pension on death of member to the nominee
  • 31.
  • 32. 13. Option for return of capital Scheme 3. Pension for a fixed period of 20 years notwithstanding whether the member lives for that period or not Rate of pension : 87.5 of the original monthly pension for a fixed period of 20 years. The pension will cease thereafter Return of capital : 100 times the original monthly pension at the end of 20 years from the date of commencement of pension to the member if he is alive otherwise to his nominee . Options shall be exercised at the time of making application to the pension.
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