Skip to main content

Employees/Staff Provident Fund Topic for CS Executive


Employees Provident Fund topic for CS Executive

Employees Provident Fund

A Brief Introduction

The Employees Provident Funds and Miscellaneous Provisions Act, 1952 are applicable to employees whose wages* exceed Rs. 15,000/- per month. This ceiling limit has been amended and applied from September 01, 2014 (earlier the limit was Rs. 6,500/-) However, employees drawing salary below this limit can also have the benefits of this Act with their choice.

The wages* includes basic wages with dearness allowance, retaining allowance (if any), and cash value of food concession.

As per Section 1(3) read with Section 16, this Act applies-

To every establishment which is a factory engaged in any industry specified in Schedule I and in which 20 or more persons are employed; and

To any other establishment employing twenty or more persons or class of such establishments which the Central Government may, by notification in the Official Gazette, specify in this behalf.

As per Section 16, this Act does not apply to-

The Co-operative Societies employing <50 persons and working without the aid of power.Sec 16(1)(a).

Establishments under the control of the State/Central Government & Employees who are getting benefits in the nature of 16(1) (b) contributory P.F. or old age pension as per Govt. rules. Sec 16(1)(b).

Establishments set up under any Central/State or Provincial Act & the employees who are getting benefits in the nature of contributory P.F. or old age pension as per Govt. rules. Sec 16(1)(c).

For the recorded lectures on the same by experienced faculty, click here CS Executive online classes.

Note: The establishment to which this Act applies once shall continue to be governed by this Act even if the Number of Employees falls below 20. Sec 1(2).

Section 16(2), CG may exempt an establishment if CG is satisfied that the financial position of the establishment or the class of establishment is not as such to comply with the provisions of this Act.

However, if the Act does not apply to any establishment i.e. does not satisfy the above-mentioned conditions can Voluntary apply this Act as per the provisions of Section 1(4).


Read More CS Executive Course and CS Executive Study Material


For a detailed explanation on this, click here CS Executive new syllabus online classes for CS Executive.


For More Such ICSI CS Executive Study Material free download of Cs Executive Video lectures, cs executive study material for December 2021, cs executive study material for june 2021. visit @ www.taksilalearning.com

Or Call us @ 8800999280/83/84


Labels:

Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Magnetic and non-magnetic material Class 6 Science

Magnetic and non-magnetic material  Class 6 Science A magnet is a substance that is drawn to certain magnetic materials like iron, cobalt, and nickel. Magnets have the ability to draw iron to them. Natural magnets are rocks that naturally draw iron. Non-magnetic materials include things like wood, rubber, coins, feathers, leather, etc. that are not drawn to iron. Magnet characteristics It pulls magnetic materials, such as iron. The magnet's two ends are referred to as its poles. The magnet's diametrically opposed poles are drawn together. Heating, hammering, or dropping causes it to lose its characteristics. On the basis of properties types of Magnets Temporary magnets are those magnets that are magnetic for only a little duration. Typically, iron, cobalt, or nickel are used to make them. When they are close to the powerful magnet, they act like a magnet. When they are yanked away from the powerful magnet, they stop being magnetic. Permanent magnets are magnets that have magne...
Post a Comment
Read more

What are Noble Gases? Example and noble gases name

What are Noble Gases? Example and noble gases name Noble Gases Noble gases, sometimes known as inert gases or erosions, are part of the modern periodic table's 18th group. This group is made up of the following individuals: Helium is a kind of gas (He) Neon (Ne) Argon is a gas (Ar) Krypton  (Kr) Xenon is a kind of xenon gas (Xe) Radon is a gas that can cause cancer (Rn) Noble gases exist in a gaseous state under typical temperature and pressure conditions. Because all noble gases have stable electronic structures, they have very little chemical reactivity. They are monoatomic gases that do not readily form molecules. 'ns2np6' represents the basic electrical configuration of noble gases. As a result, noble gases' outermost valence shells can be deemed 'complete.' The chemical inertness of the group of 18 elements is due to this. Because of the stability of certain elements, these gases form a group. These stable elements' crusts are totally filled. Regardles...
Post a Comment
Read more

CS Executive

At  Takshila Learning  we provide you Video Lecture of best faculties in India. We assure you not only the best quality of videos but also best content. Our teachers way of teaching, presentation and explanation is very simple and unique. Why Takshila Learning? We can give you 10 top reasons why you should take CS Executive Online Video Coaching Classes Lectures from Takshila Learnings. We are providing online classes of CS Executive for last 5 years (almost  oldest in the market ) We pick  best teachers  for every subjects. We don’t provide updates only with old videos. Infact we provide  new updated classes  for every attempt Our teachers update notes for every attempt. Videos and notes are  highly exams oriented . Our teachers  cover last 5 attempts question papers  along with ICSI Course content. Our video classes  includes live practical examples  to help you understand easily. Our structure of our  fee ...
Post a Comment
Read more