The Ministry of Labour & Employment had announced in March 2020 that individuals could claim non-refundable advances from their Provident Fund (PF) account not exceeding the basic wages and dearness allowance for three months or up to 75% of the amount standing to their credit in the Fund, whichever is lesser, for Covid related needs.
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Category: The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
In view of the growing impact of Novel Coronavirus on the economy, an important measure is taken by the Government to minimise financial burden on the employers. The Ministry of Labour and Employment vide notification No. S.O. 1513(E) dated 18.05.2020 inserted a clause enabling reduction in statutory rate of EPF contribution from 12% to 10%
In today’s globalized workplace, companies prefer engaging employees from other countries as much as their own domestic resources. This is aimed at attracting and utilizing superior talent, skill and knowledge, which transcends across boundaries. In respect of such employees, the employers are obligated to comply with relevant social security legislations. The Employees’ Provident Funds and Miscellaneous
Applicability of The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 to Direct Employees engaged on Contract basis
It is not uncommon for Employers to engage direct employees on contract basis. The nature of work of such employees may be periodic or permanent. Further, their tenure may be for a particular period, in which case they are termed as Fixed Term Employees. The legal conundrum arises as to the applicability of Employees’ Provident