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Which of the following are included under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952?
1. Employees' Provident Fund
2. Employees' Deposit Linked Insurance Scheme
3. Employees' Permanent Disablement Pension
4. Pension of the Employees' Widows
Select the correct answer using the code given below.
Explanation
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952, is a significant social security legislation in India. It currently administers three major schemes:
- Employees' Provident Fund (EPF) Scheme, 1952: Provides for retirement savings (Statement 1).
- Employees' Deposit Linked Insurance (EDLI) Scheme, 1976: Provides life insurance benefits to the family of a deceased member (Statement 2).
- Employees' Pension Scheme (EPS), 1995: This scheme replaced the earlier Family Pension Scheme. It provides various pension benefits, including:
- Permanent Disablement Pension: For members who suffer permanent total disablement while in service (Statement 3).
- Widow/Widower Pension: Payable to the surviving spouse upon the death of the member (Statement 4).
- Other benefits like children's pension and orphan pension.
Since all four items are either the schemes themselves or specific benefits mandated by the schemes under the Act, all are included under its ambit.
SIMILAR QUESTIONS
The Central Government may frame a scheme to be called the Employees' Pension Scheme under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 for the purpose of providing
1. Superannuation pension.
2. Retiring pension.
3. Partial disablement pension.
4. Permanent total disablement pension.
Select the correct answer using the code given below :
Which of the following statements is/are correct ?
The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 is generally applicable to every establishment :
1. which deposits GST of more than ₹ 50,000 per year.
2. employing twenty or more persons.
Select the correct answer using the code given below :
Under the Employees' Provident Funds and Miscellaneous Provisions Act, the Central Government may authorize an employee. to maintain a Provident Fund Account in relation to the establishment, upon an application made by the employer and majority of such establishment's employees provided that the number of persons employed in that establishment is not less than
The Employees' Provident Funds and Miscellaneous Provisions Act does not apply to