Employees provident fund and miscellaneous provisions act

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 June 2014 whether each establishment to which the EPF AND MISCELLANEOUS PROVISIONS ACT is applicable required to establish separate fund as per the EMPLOYEES PROVIDENT FUND SCHEME 1952,or there exist any common provident fund for all establishments?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

25 June 2014 there are two ways:

1. the organization sets up its own provident fund as provided in the Act itself. Larger organizations like SBI have done this

2. become member of EPFO and deposit employee and employer contribution with EPFO.

both the ways are equally valid and governed by the provisions of the same EPF law.

Message likes : 1 times