Regulatory aspect in employees provident fund organization, Financial Management

Assignment Help:

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.

 


Related Discussions:- Regulatory aspect in employees provident fund organization

Reinvestment income, Other than zero coupon bonds, all fixed in...

Other than zero coupon bonds, all fixed income securities make periodic payments in the form of coupon interest. This coupon interest can be rei

Compounding or future value concept, Compounding or Future Value Concept: -...

Compounding or Future Value Concept: - Under this process of compounding the future worth of all cash inflows at the end of the time horizon at a particular rate of interest are fo

Consequence of the cash operating cycle, Q. Consequence of the cash operati...

Q. Consequence of the cash operating cycle? The cash operating cycle is the length of time among paying trade payables and receiving cash from receivables. It is able to be cal

Explain exchange rate affect the return from foreign market, Explain how ex...

Explain how exchange rate fluctuations influence the return from a foreign market measured in dollar terms. Discuss the empirical proof on the effect of exchange rate doubt on the

Advantage of weighted average cost of capital, Advantage of Weighted Averag...

Advantage of Weighted Average Cost of capital 1) Straight Forward and logical: Weighted Average ost of Capital defines the oveall cost of capital as the sum of the cost of t

What is a financial ratio, What is a financial ratio? A financial rati...

What is a financial ratio? A financial ratio is a number that convey the value of one financial variable relative to another.  Put more easily, a financial ratio is the final

#title.OPERATING CYCLE, DISCUSS THE APPLICABILITY OF OPERATING CYCLE IN VEG...

DISCUSS THE APPLICABILITY OF OPERATING CYCLE IN VEGETABLE GROWING.

Credit markets, Credit Markets: The financial system enables supply of ...

Credit Markets: The financial system enables supply of funds to support purchase of goods and services and to finance capital investments. In this way, it provides funds both t

Criticize the flexible exchange rate regime, Criticism from the viewpoint o...

Criticism from the viewpoint of the proponents of the flexible exchange rate regime. Economic agents can hedge exchange risk through forward contracts and other methods. They do

Determine about the shareholders, Determine about the Shareholders Shar...

Determine about the Shareholders Shareholders, being the owners of the company, elect board of directors and vote on major issues that affect functioning and long term plans of

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd