pf fund ppt new

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Provident Fund has come into force to give better future to employees on their retirement & his dependants in case of his death during employment The Employees Provident Funds Act 1952 is compulsory contributory fund for the future of an employee after retirement or for his dependents in case of his early death Act is applicable to all states of India except Jammu and Kashmir

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PF Act is an important labor legislation which came into existence in 1952 to ensure compulsory PF, family pension fund and deposit linked insurance in factories and other establishment for the benefits of employees. The legislation of PF in industrial and under taken was discussed in which representative of central and state Govt., employer and worker participated.

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  r     The Employees Provident Fund Act, 1952 was brought on the statute book for providing for the institution of provident fund for the workmen in factories and other industrial establishments. The basic purpose of the Act was to provide provident funds and to make provision for future of the workmen after his retirement or his dependents in case of his early death. In order to achieve this ultimate object the Act is designed to cultivate among the workers a spirit of saving something regularly and also to encourage stabilization of a steady labour force in the industrial centres.

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scheme aimed at ³providing for economic sustence during old age and survivorship coverage to the member and his family.

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