1. EMPLOYEES PROVIDENT FUNDS AND MISC. PROVISIONS ACT 1952

2. Introduction SCHEMES UNDER THE ACT.
EMPLOYEES PROVIDENT FUNDS SCHEME, 1952
EMPLOYEES DEPOSIT LINKED INSURANCE SHEME, 1976
EMPLOYEES PENSION SCHEME, 1995

3. PF SCHEME APPLICATION:
To every establishment employing 20 or more employees.
Wages:
basic wages
dearness allowance and
retaining allowance, if any

4. PF SCHEME CONTRIBUTIONS: EMPLOYEES @ 12% EMPLOYER @ 12% FAMILY:
In case of Male: wife, children, dependent parents and deceased sons widow and children
In case of Female: Husband, children, dependent parents and hus dep. Parents and deceased sons widow and children

5. PF SCHEME COVERAGE: From day one joining in employment POWER TO EXEMPT
Trust Maintenance by Trustees of Orgn.
TRANSFER OF ACCOUNTS:
On Re-employment from Exempted establishment to Un-exempted and visa-versa.

6. PF SCHEME RATE OF INTREST: 9.5 % P.A. VOLUNTARY CONTRIBUTION:
In multiples of Hundreds (Max. limit of one month basic+da)
DECLARATION & NOMINATION
FORM 2
Distribution of amount
Fresh nomination on attaining family.

7. PF SCHEME WITHDRAWALS:
For purchase of a dwelling house/flat or for construction of house including purchase of site
Min. Criteria: 5 years of Contributory period.
Incase of Construction: 24 months/employers & employee share together with interest or actual cost of const. Whichever is lower

8. PF SCHEME WITHDRAWALS:
Incase of acquisition of ready built house/flat:
36 months contributions/employers & employee share together with interest or actual cost of construction whichever is lower
No withdrawal is allowed if it is for joint family except jointly with spouse.

9. PF SCHEME WITHDRWALS Grant of Advances in special cases
incase factory is locked up or closed down for more than 2 months
Advance for illness
Hospitalization is lasting for more than one month or major surgical operation or suffering from TB/ Leprosy etc.

10. PF SCHEME
WITHDRWALS
Grant of Advances for Marriages or post matriculation edu of children ( 15% of own share)
Incase of own marriage or son/daughter/ sister/ brother or for post matriculation study of children.
Min criteria: 7 years of contributory period.
Grant of adv. In abnormal conditions
Movable /Immovable property has been damaged by nature calamity.

11. PF SCHEME WITHDRWALS Withdrawal which one year before retirement
90% of amount standing in his account.
Circumstances which lead to payable to a member
On retirement
On retirement on account of perm disablement
Immediately before migration
On Retrenchment.

12. EDLI SCHEME
Obj: For providing life insurance benefits to the employees.
Contributions:
Employer and Govt will 0.5% of wages.
(Max wage limit is Rs. 6500/-)
Benefit:
Equivalent to fund accumulations or 12 months average bal or % of excess of with limit of RS /-

13. EPS SCHEME COMMENCEMENT OF SCHEME: w.e.f 16/11/1995
OBJECTIVE: For purpose of providing for
Superannuation pension
Retiring Pension
permanent total disablement pension
widow or widower’s pension
children pension/orphan pension

14. EPS SCHEME ELIGIBILITY FOR PENSION:
An employee who completed min 10 years membership.
Employees attaining age of 58 yrs and who completed 10 yrs.
On attaining 58 yrs of age, the employers contr. Will go to PF account, if he/she continues in emp.
In case of death, spouse and two children upto age of 25 yrs are eligible for pension.

15. EPS SCHEME CONTRIBUTIONS: 8.33% of employers contribution be diverted
1.16% of Govt Contribution (max wage: Rs.6500)
Pensionable Service:
Contributions received or receivable
Service Weight-age of 2 yrs incase of 20 years or more pensionable service.

16. EPS SCHEME PENSIONABE SALARY: Avg. of 12 months salary
Non contributory days be excluded
Max wage limit is RS. 6500/-
Monthly Pension:
Retirement Pension: 20 yrs or more of service on attaining 58 yrs.
Short Service Pension: yrs service.

17. EPS SCHEME Monthly Pension formula:
Pensionable serviceX Pensionable salary/70
Options : (Return of Capital)
90% of pension- nominee will get 100 times as lumpsum on death of member
90% of pension- widow will receive 80% of original pension and 90 times of original pension
87.5% of pension for fixed 20 yeas. 100 times at end of 20 yrs if he alive or to nominee if not alive

18. EPS SCHEME WITHDRAWALS:
Employees who put in less than 10 yrs service are eligible incase not employed elsewhere.
employee has option to obtain “Scheme Certificate” instead of withdrawal
PENSION AT AN EARLY DATE: 3% less for every year of short fall of 58 yrs.)
Emp who put in 10 yrs service and ceased to be in employment may opt from 50 yrs of age.

19. EPS SCHEME FORMS: FORM 2: To be used for furnishing Nominee Details.
FORM 10C: To be used for claiming Withdrawal Benefits
FORM 10D: To be used for claiming Monthly Pension

20. EPS SCHEME DO’S FOR MEMBERS:
Instructions should be gone through before filling the forms.
Bank Details to be furnished correctly
Forms be attested by Employer
Claims should be sent to concerned RPF Office
Claims/Clarifications routed thr Ex-Employer

21. EPS SCHEME DON’TS FOR MEMBERS: Do not close Bank Account
Don’t approach any middle/consultant for settlement of claim.
Don’t contact any other official other than PRO
Don’t hand over claim form to any un-authorised person.

22. Thank You

23. badari narayana [ybadarinarayana@yahoo.com]
Dear Rajeev,
Pls find them here under.
These were prepared some time back...It may need some
updation.. like latest amendment in ESI Act enhancing
wage ceiling from Rs.6500 to Rs pm
Pls note my official mail id also:
regards
Badarinarayana