Question

How many scheme in operation under employees prodent fund act 1952?

Answer 1

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As per the Employees' Provident Fund & Miscellaneous Provisions Act 1952, those establishments that recruits 20 or more employees have to covered under the EPFO act and they have to deduct 12% contribution from Employees wages/salary(Basic+DA+retaining allowances if any) on monthly basis and it has to be remitted to

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Answer 2

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EPF is the main scheme under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 .

However, an employee who is drawing 'pay' above prescribed limit (at present Rs 15,000) can become a member with permission of Assistant PF Commissioner, if he and his employer agree.

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