Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (PF Act)
Introduction The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (PF Act) is a social security law in India that provides for the establishment of provident funds and other social security schemes for employees of factories and other establishments. The Act is administered by the Employees' Provident Fund Organization (EPFO), a statutory body under the Ministry of Labour and Employment, Government of India. Coverage The PF Act applies to all factories and other establishments employing 20 or more people. However, the Central Government may exempt any establishment from the coverage of the Act or may apply the Act to any establishment employing less than 20 persons if it deems it necessary. Contributions Under the PF Act, both the employer and the employee are required to make contributions to the provident fund. The contribution rate is currently 12% of the employee's basic salary and dearness allowance. The employer is also required to contribute an ...