An Act to provide for the institution of provident funds, pension funds and deposit linked insurance fund for the employees in the factories and other establishments. The Act extends to the whole of India except the State of Jammu and Kashmir.
Applicability
- All factories and establishments in which 20 or more are employed
Schemes under the Act
Three beneficial schemes-
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- Employees Provident Fund Scheme 1952
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- Employees Pension Scheme 1995
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- Employees Deposit Linked Insurance 1976
Membership
- An employee at the time of joining the employment and getting wages up to Rs.6500/- is required to become a member.
- An employee is eligible for membership of fund from the very first date of joining a covered establishment.
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