Related links
- Apprentice Act,1961
- Building & Other Construction Workers Welfare Cess Act,1996
- Contract Labour Act,1970
- Employees Provident Fund Act, 1952
- Employees State Insurance Act,1948
- Factories Act, 1948
- Income Tax Act,1961
- Industrial Disputes Act, 1947
- Maternity Benefit Act,1961
- Minimum Wages Act,1948
- Payment of Bonus Act,1965
- Payment of Gratuity Act,1972
- Payment of Wages Act,1936
- Professional Tax
- Trade Unions Act, 1926
- Workmen Compensation Act, 1923
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provident fund act 1952
Objective
The Employee's provident funds and miscellaneous provisions act, 1952 is enacted to provide a kind of social security to the industrial workers. The Act mainly provides retirement or old age benefits, such as Provident Fund, Superannuation Pension, Invalidation Pension, Family Pension and Deposit Linked Insurance.
Applicability of the Act
- To every factory employing 20 or more persons.
- An employee whose pay at the time he is otherwise entitled to become a member of the fund exceeds Rs.6500/- per month
- An Employee who having been a member of the fund, has withdrawn the fullamount of his contribution in the fund
(a) on retirement from service after attaining the age of 55 years or
(b) before migration from India for permanent settlement abroad; or for taking employement abroad.
Rates of Contribution
(Provident Fund is Calculated from Basic Salary + DA)
Scheme |
Employee's Contribution |
Employer's Contribution |
Employee Provident Fund (EPF) |
12% |
3.67% |
Employee Pension Scheme (EPS) |
|
8.33% |
Administration Charges |
|
1.10% |
Employee Deposit-Linked Insurance Scheme (EDLI) |
|
0.50% |
EDLI Administrative Charges |
|
0.01% |
Total |
12% |
13.61% |
PF interest Rates is 9.5% per annum
Compliance Charts for Provident Fund
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PF form download
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