Regulatory aspect in employees provident fund organization, Financial Management

Regulatory Aspect

Employees Provident Fund Organization (EPFO) is under the Ministry of Labor and is a primary organization for retirement income for private employees in India. Parliament enacted the EPF & MP Act, 1952 and it came into force with effect from 14th March, 1952. A series of legislative interventions were made in this direction, including the Employees' Provident Funds & Miscellaneous Provisions Act, 1952. Presently, the following three schemes are in operation under the Act:

  • Employees' Provident Fund Scheme, 1952.
  • Employees' Deposit Linked Insurance Scheme, 1976.
  • Employees' Pension Scheme, 1995 (replacing the Employees' Family Pension Scheme, 1971).

In addition, the EPFO is also empowered to decide on the companies that may be permitted to administer their own provident and pension schemes. The Organization functions under the overall superintendence of the policies framed by the Central Board of Trustees, a tripartite body headed by the Union Minister for Labor as the Chairman. The Central Board of Trustees governs the Employees Provident Fund. It is vested with the responsibility of implementing the Employees' Provident Fund Scheme, the Employees' Pension Scheme and the Employees' Deposit Linked Insurance Scheme.


Posted Date: 9/11/2012 1:53:29 AM | Location : United States

Related Discussions:- Regulatory aspect in employees provident fund organization, Assignment Help, Ask Question on Regulatory aspect in employees provident fund organization, Get Answer, Expert's Help, Regulatory aspect in employees provident fund organization Discussions

Write discussion on Regulatory aspect in employees provident fund organization
Your posts are moderated
Related Questions
What are the Limitations of ratio analysis A ratio on its own is meaningless. Accounting ratios should always be interpreted in relation to other information, for illustration:

Securitization -Source of financing whereby an entity's ASSETS (characteristically mortgage loans, lease obligations or other kinds of RECEIVABLES) are placed in a special purpose

1. What is a venture's present value? Does the past matter? What is meant by the statement, "If you are not using estimates, you are not doing a valuation?" 2. Define (a) requ

Q. Explain Dividend Policy Decision? Dividend Policy Decision: - The financial management has to make a decision as to which portion of the profits is to be distributed as divi

The volatility assumption has a great influence on the arbitrage free value of the bond. The higher the expected volatility, the greater the value of an option. W

We need to have done some exploration work on all of the major projects for inclusion in our prospectus, but of our $4m we need at least $1m in the bank to pay for all the listing

QUESTION i) Discuss the risk associated with changes in exchange rates. ii) How can these risks be managed internally? iii) Explain how a manager can use a forward contra

FACTORS INFLUENCING CAPITAL STRUCTURE/DETERMINANTS OF THE CAPITAL STRUCTURE 1. Financial leverage (or) Trading on equity it is the make use of long term fixed interest bea

Q. What is Accumulated Depreciation? Accumulated Depreciation - Total DEPRECIATION pertaining to an ASSET or group of assetsfrom the time the assets were placed in services unt

Determine the amounts to be recognised in profit or loss and in other comprehensive income in respect of the property for the year ended 31 December 2010.   Evaluate the compliance