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Legally, the EPF is only obligated to provide 2.5% dividends (as per Section 27 of the Employees Provident Fund Act 1991). [8] The EPF claims that the lowered dividend is the result of its decision to invest in low-risk fixed revenue instruments, which produce lower returns but maintains the principal value of its members' contributions.
The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management.
The Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952, mandates employers to pay 12% of the salary (consisting of basic wages, Dearness allowance, retaining allowance and value of food contribution) as a contribution on behalf of employer and employee each towards employees provident fund and employees pension fund every month.
Every state in India makes its own regulations for the Central Act. The regulations may vastly differ from state to state. The forms and procedures used will be different in each state. The Central Government is in the process on simplifying these multiple state laws into 4 Labour Codes. They are Code on 1. Wages, 2. Social Security and Welfare, 3.
Union Territories (Direct Election to the House of the People) Act: 1965: 49 Seamen's Provident Fund Act: 1966: 4 Asian Development Bank Act: 1966: 18 Delhi High Court Act: 1966: 26 Railway Property (Unlawful Possession) Act: 1966: 29 Punjab Reorganisation Act: 1966: 31 Beedi and Cigar Workers (Conditions of Employment) Act: 1966: 32 Police ...
The BIFR was established under The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The board was set up in January 1987 and became functional as of 15 May 1987. [ 1 ] A new industrial policy was tabled in Parliament on 24 July 1991 aiming to maintain growth in productivity and gainful employment and to encourage the growth of ...
Balasubrahmanyam's first work in Hindi films was, in Ek Duuje Ke Liye (1981), [1] for which he received another National Film Award for Best Male Playback Singer. [2] In 1989, Balasubrahmanyam was the playback singer for actor Salman Khan in the blockbuster Maine Pyar Kiya. [3]
The act has the following sections: Section 1. Short title, extent and commencement. Section 2. Definitions. Section 3. Bar of conversion of places of worship. Section 4. Declaration as to the religious character of certain places of worship and bar of jurisdiction of courts, etc. Section 5. Act not to apply to Ram Janma Bhumi-Babri Masjid ...