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An Employee who having been a member of the fund, has withdrawn the fullamount of his contribution in the fund (a) on retirement from service after attaining the age of 55 years or (b) before migration from India for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 Provident Fund (EPF) Employee Pension Scheme (EPS) Administration Charges Employee DepositLinked Insurance Scheme (EDLI) EDLI Administrative Charges Total
PF interest Rates is 9.5% per annum

Employee's Employer's Contribution Contribution 12% 3.67% 8.33% 1.10% 0.50% 0.01% 12% 13.61%

COMPLIANCE CHARTS FOR PROVIDENT FUND

Type of Compliance
Declaration Form from New Joinees

Form No
2

Monthly Contribution of Employer & Employee in Challan Challan for previous month Return of Employees Qualifying Return of Employees Leaving Montly Return 5 10 12A 3A

Annual Return
Transfer of PF A/c

& 6A
13

Withdrawal Advances for various purpose

10C 19 10D 31

Issue of Individual PF A/C No.

Compliance Date At the time of Joining Before 15th of Every Month Before 15th of Every Month Before 15th of Every Month Before 25th of Every Month Before 30th of April When New Recruit At the time of Leaving the service After 5 Years of membership In the Month of Joining

Submitted to RPFC Office State Bank of India RPFC Office RPFC Office RPFC Office RPFC Office RPFC Office RPFC Office