Schemes under Employees Provident Fund and Miscellaneous Provision Act, 1952 [CA, CMA, CS, LLB]

SCHEMES

• Section 5 – Employees’ Provident Fund Schemes

• Section 6A – Employees’ Pension Scheme

• Section 6C – Employees’ Deposit Linked Insurance Scheme

Section 7 gives powers to the Central Government to amend or vary, either prospectively or retrospectively, the Scheme, the Pension Scheme or the Insurance scheme, as the case may be.

EMPLOYEES PROVIDENT FUND SCHEME

SECTION 5

• The Central Government framed The Employees’ Provident Fund Scheme, 1952.
• The Scheme came into effect from 2^nd September, 1952. 
• The fund shall vest in and be administered by the Central Board
• The scheme framed may provide for all or any of the matters specified in Schedule II. 
• The scheme may provide that any of the provisions shall take effect either prospectively or retrospectively.

CENTRAL BOARD [SECTION 5A]

• Section 5A provides for the establishment of Central Board by the Central Government. 
• The Board consists of a Chairman and a Vice Chairman to be appointed by the Central Government. 
• The Central Provident Fund Commissioner is ex officio.
• Maximum five persons appointed by the Central Government from amongst its officials.
• Maximum fifteen persons representing Governments of such States appointed by the Central Government.
• Ten persons representing employers of the establishments to which the Scheme applies, appointed by the Central Government after consultation with such organisations of employers.
• Ten persons representing employees in the establishments to which the Scheme applies, appointed by the Central Government after consultation with such organisations of employees.