Transfer of certain applications to Tribunal All applications which are pending before the Central Government under section 19A before its repeal shall stand transferred to a Tribunal exercising jurisdiction in respect of establishments in relation to which such applications had been made as if such applications were appeals preferred to the Tribunal. Provided that the liability of the transfer shall be limited to the value of the assets obtained by him by such transfer. Exemption from the scheme: If a establishment has a scheme providing greater benefits than this scheme is exempted from this scheme. If so, up to what : period? The Central government also constitutes Employee Provident Fund Appellate tribunal and it consists of only one person who is Presiding officer. Trading and Commercial establishments engaged in the purchase, sale or storage of any goods, including establishments of exporters, importers, advertisers commission agents and brokers and commodity and stock exchanges, but not including banks or warehouses established under any Central or State Act. Every employee employed in or in connection with the work of a factory or establishment shall be entitled and required to become a member of the fund from the date of joining the factory or establishment.
It also performs other functions under any provisions of Employees Provident Fund scheme and Insurance scheme. If not, brief reasons therefor. The contributions made to the scheme along with the interests are repayable after 15 years unless extended. The conditions under which a member may be permitted to pay premia on life insurance, from the Fund. Clause ia re-lettered as clause ic by Act 99 of 1976, s. If for any of the instruments mentioned above the rating falls below the minimum permissible investment grade prescribed for investment in that instrument when it was purchased, as confirmed by one credit rating agency, the option of exit shall be considered and exercised, as appropriate, in a manner that is in the best interest of the subscribers. The Notes on clauses explain in detail the provisions of the Bill.
Transfer of certain applications to Tribunals 7-P. Ways to be accustomed for Employee Provident Fund Act The following are the people applicable according to the Employee provident fund act 1. Physical filing is also permissible. Beer-manufacturing industry, that is to say, any industry engaged in the manufacture off the product of alcoholic fermentation of mash in potable water of malted barley and hops, or of hops concentrated with or without the additional of other malted or unmalted cereal or other carbohydrate preparations. The Regional Provident Fund Commissioner, Gujarat State, Ahmedabad, felt that the provident fund deduction was required to be made from the amount of Rs. Retaining allowance is the allowance payable to an employee for retaining his services, when the establishment is not working. Interest payable by the employer The employer shall be liable to pay simple interest at the rate of twelve per cent per annum or at such higher rate as may be specified in the Scheme on any amount due from him under this Act from the date on which the amount has become so due till the date of its actual payment : Provided that higher rate of interest specified in the Scheme shall not exceed the lending rate of interest charged by any scheduled bank.
Finality of orders constituting a Tribunal No order of the Central Government appointing any person as the Presiding Officer shall be called in question in any manner and no act or proceeding before a Tribunal shall be called in question in any manner on the ground merely of any defect in the constitution of such Tribunal. The requirement of ratings as mandated in this notification merely intends to limit the risk associated with investments at a broad and general level. Delegation The Central Board may delegate to the Executive Committee or to the Chairman of the Board or to any of its officers and a State Board may delegate to its Chairman or to any of its officers subject to such conditions and limitations, if any, as it may specify, such of its powers and functions under this Act as it may deem necessary for the efficient administration of the Scheme , the Pension Scheme and the Insurance Scheme. Printing including the process of composing types for printing, printing by letterpress, lithography, photogravure or other similar process or bookbinding. Subscribers to the private fund: a No.
. The Board of Trustees shall invest the monies of the provident fund as per the directions of the Government from time to time. Financial establishments other than banks, doing business in more than one State or Union Territory, Unit Trust of India, Agricultural Refinance Corporation, Industrial Development Bank of India, Industrial Finance Corporation of India and State Finance Corporations engaged in the activities of borrowing, lending, advancing of money and dealing with other monetary transactions with a view to earn interest. Fund to be recognised under Act 11 of 1922 9. The manner in which the amount due to the nominee or the member of the family of the employee under the scheme is to be paid including a provision that the amount shall not be paid otherwise than in the form ofa deposit in a saving bank account, in the name of such nominee or member of family, in any corresponding new bank specified in the First Schedule of the Banking Companies Acquisition and Transfer of Undertakings of Act, 1970, 5 of 1970.
Electrical, mechanical or general engineering products. Mode of recovery of moneys due from employers Any amount due a from the employer in relation to an establishment to which any Scheme or the Insurance Scheme applies in respect of any contribution payable to the Fund or, as the case may be, the Insurance Fund, damages recoverable under section 14B, accumulations required to be transferred under sub-section 2 of section 15 or under sub-section 5 of section 17 or any charges payable by him under any other provision of this Act or of any provision of the Scheme or the Insurance Scheme; or b from the employer in relation to an exempted establishment in respect of any damages recoverable under section 14B or any charges payable by him to the appropriate Government under any provision of this Act or under any of the conditions specified under section 17 or in respect of the contribution payable by him towards the Pension Scheme under the said section 17, may, if the amount is in arrear, be recovered in the manner specified in sections 8B to 8G. Employer not to reduce wages etc No employer in relation to an establishment to which any Scheme or the Insurance Scheme applies shall by reason only of his liability for the payment of any contribution to the Fund or the Insurance Fund or any charges under this Act or the Scheme or the Insurance Scheme reduce whether directly or indirectly the wages of any employee to whom the Scheme or the Insurance Scheme applies or the total quantum of benefits in the nature of old age pension gratuity provident fund or life insurance to which the employee is entitled under the terms of his employment express or implied. Omitted by Act 7 of 2017, S. Establishments engaged in the storage or transport or distribution of petroleum or natural gas or products of either petroleum or natural gas.
Banks doing business in one State or Union Territory and having no branches or departments outside the State or Union Territory. Mode of recovery of moneys due from employers Any amount due : a from the employer in relation to an establishment to which any Scheme or the Insurance Scheme applies in respect of any contribution payable to the Fund or as the case may be the Insurance Fund damages recoverable under section 14B accumulations required to be transferred under sub-section 2 of section 15 or under sub-section 5 of section 17 or any charges payable by him under any other provision of this Act or of any provision of the Scheme or the Insurance Scheme; or b from the employer in relation to an exempted establishment in respect of any damages recoverable under section 14B or any charges payable by him to the appropriate Government under any provision of this Act or under any of the conditions specified under section 17 or in respect of the contribution payable by him towards the Pension Scheme or the Insurance Scheme under the said section 17 may if the amount is in arrears be recovered in the manner specified in sections 8B to 8G. Statutory protection is provided to the amount of contribution to provident fund under section 10 from attachment to any Court decree. This notification shall come into force on the first day of November, 1973. Any factory or establishment engaging 20 or more employees, whether directly or through contractors is liable to be covered under this Act.
Industrial Employment Standing Orders Act, 1961. Omitted by Act 28 of 1963, s. The manner in which the expenses incurred in connection with the administration of the Family Pension Scheme may be paid by the Central Government to the Central Board. Determination of escaped amount 7-D. Petroleum or natural gas exploration, prospecting, drilling or production.