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| Employees' Provident Funds & Miscellaneous Provisions Act, 1952 |
| Applicability: |
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Every establishment which is a factory engaged in any industry specified in Schedule 1 and in which 20 or more persons are employed and |
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Any other establishment employing 20 or more persons which Central Government may, by notification, specify in this behalf. (Infancy period of 3 years has been withdrawn by ordinance, w.e.f. 22-9-97) |
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Any establishment employing even less than 20 persons can be covered voluntarily u/s 1(4) of the Act. |
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| Eligibility: |
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Any person who is employed for work of an establishment or employed through contractor in or in connection with the work of an establishment. |
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| Benefits: |
Employees covered enjoy a benefit of Social Security in the form of an unattachable, unwithdrawable (except in severely restricted circumstances like buying house, marriage/education etc.) Financial nest egg to which employees and employers contribute equally throughout the covered persons employment. This sum is payable normally on retirement or death. Other Benefits include Employees' Pension Scheme and Employees' Deposit Linked Insurance Fund. |
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