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The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9] The board is chaired by the Union Labour Minister of India. Presently, the following three schemes are in operation under the Act: Employees' Provident Fund Scheme, 1952
The Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952, mandates employers to pay 12% of the salary (consisting of basic wages, Dearness allowance, retaining allowance and value of food contribution) as a contribution on behalf of employer and employee each towards employees provident fund and employees pension fund every month.
4.8 Employees Provident Fund and Miscellaneous Provisions Act of 1952 ... Download as PDF; ... The Act provides for establishments of a contributory Provident Fund in ...
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (repealed in 2020), provides for compulsory contributory fund for the future of an employee after his/her retirement or for his/her dependents in case of employee's early death. It extends to the whole of India.:
Plantations Labour Act: 1951: 69 Employees' Provident Funds and Miscellaneous Provisions Act: 1952: 19 Inflammable Substances Act: 1952: 20 Requisitioning and Acquisition of Immovable Property Act: 1952: 30 Presidential and Vice-Presidential Elections Act: 1952: 31 Mines Act: 1952: 35 Cinematograph Act: 1952: 37 Notaries Act: 1952: 53 Salaries ...
It runs three social security schemes for workers and employees in India. A provident fund is a kind of retirement scheme. It is mandatory for every private and self-employee (civil servants are covered by the Civil Servant's Pension System) under The Employees' Provident Funds and Miscellaneous Provisions Act, 1952.
Employees' State Insurance Corporation (ESIC), established by ESI Act, is an autonomous organisation under Ministry of Labour and Employment, Government of India.As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government and it can acquire both movable and immovable property and all incomes from the ...
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