top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration Why to Join

Facebook Login
Site Registration

What is the provision for recovery of Interest and damages under EPF Act?

+1 vote
3 views
What is the provision for recovery of Interest and damages under EPF Act?
posted Jun 20, 2017 by Swati Tyagi

Share this question
Facebook Share Button Twitter Share Button Google+ Share Button LinkedIn Share Button Multiple Social Share Button

1 Answer

0 votes

Matters for which provisions may be made in a Scheme.

  1. The employees or class or employees who shall join the Fund and the conditions under which employees may be exempted from joining the Fund or from making any contribution.

  2. The time and manner in which contributions shall be made to the Fund by the employers and by, or on behalf of employees (Whether employed by him directly or by or through a contractor), the contributions which an employee may, if he so desires, make under Sec.6, and the manner in which such contributions may be recovered.

2A. The manner in which employees’ contributions may be recovered by contractors from employees employed by or through such contractors.

  1. The payment by the employer of such sums of money as may be necessary to meet the cost of administering the Fund and the rate at which and the manner in which the payment shall be made.

  2. The Constitution of any committee for assisting any Board of Trustees.

  3. The opening of regional and other offices of any Board and Trustees.

  4. The manner in which accounts shall be kept, the investment of moneys belonging to the Fund in accordance with any directions issued or conditions specified by the Central Government, the preparation of the budget, the audit of accounts and the submission of reports to the Central Government or to any specified State Government.

  5. The conditions under which withwrawals from the Fund may be permitted and any deduction or forefeiture may be madde and the maximum amount of such deduction or forefeiture.

  6. The fixation by the Central Government in consultation with the boards of trustees concerned of the rate of interest payable to members.

  7. The form in which an employee shall furnish particulars about himself and his family whenever required.

  8. The nomination of person to receive the amount standing to the credit of a member after his death and the cancellation or variation of such nomination.

  9. The registers and records to be maintained with respect to employees and the returns to be furnished by employers or contractors.

  10. The form or design of any identity card, token or dise for the purpose of identifying any employee, and for the issue, custody and replacement thereof.

  11. The fees to be levied for any of the purposes specified in this Schedule.

  12. The contraventions or defaults which shal be punsihable under subsection (2) of Sec.14.

  13. The further powers, if any, which may be exercised by inspectors.

  14. The manner in which accumulations in any existing provident fund shall be transferred to the Fund under Sec.15, and the mode of valuation of any assets which may be transferred by the employers in this behalf.

  15. The conditions under which a member may be permitted to pay premia of life insurance from the Fund.

  16. Any other matter (Which is to be provided for in the Scheme or) which may be necessary or proper for the purpose of implementing the Scheme

answer Jun 21, 2017 by Babita Thawani
Contact Us
+91 9880187415
sales@queryhome.net
support@queryhome.net
#280, 3rd floor, 5th Main
6th Sector, HSR Layout
Bangalore-560102
Karnataka INDIA.
QUERY HOME
...