Employees Provident Fund Scheme Act 1952
It is a scheme managed under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, by the Employees' Provident Fund Organization (EPFO). Under the EPF scheme, an employee has to pay a certain percentage from his pay and an equal amount is contributed by the employer.
Employees' Provident Fund and Miscellaneous Provisions Act 1952 are applicable to:
1. It covers every establishment in which 20 or more persons are employed and certain organizations are covered, subject to certain conditions and exemptions even if they employ less than 20 persons each.
2. Cinema Theatres employing 5 or more persons.
|A/C 1||A/C 2||A/C 10||A/C 21||A/C 22|
|EE – 12%||ADMIN CHRG||PENSION||EDLI||EDLI ADMIN CHRG|
|ER- 3.67%||ER- 0.50%||ER- 8.33%||ER- 0.50%||ER- 0%|