The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 provides for the institution of provident funds, pension fund and deposit-linked insurance fund for employees in factories and other establishments. It extends to the whole of India except the State of Jammu and Kashmir.
•The Act is now applicable to employees drawing pay not exceeding Rs. 15000/- per month. The Act extends to whole of India except Jammu and Kashmir. The term pay includes basic wages with dearness allowance, retaining allowance (if any), and cash value of food concession.
•The following three schemes have been framed under the Act by the Central Government:
(a) The Employees’ Provident Fund Schemes, 1952;
(b) The Employees’ Pension Scheme, 1995; and
(c) The Employees’ Deposit-Linked Insurance Scheme; 1976.