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

Net present value (npv), Net Present Value (NPV) : In this technique, f...

Net Present Value (NPV) : In this technique, future cash flows are discounted to the present and then compared with the investment outlay. The basic discount rate is generally

Quantitative analysis, Your task is to prepare a presentation for a group o...

Your task is to prepare a presentation for a group of board members who are considering an investment of $100 million in your company. Your presentation will consist of three disti

Define floating rate notes, Define Floating Rate Notes Floating-rate n...

Define Floating Rate Notes Floating-rate notes (FRNs) are commonly medium-term bonds along with their coupon payments indexed to some reference rate.  Common reference rates a

Illustrate about the financial management, Illustrate about the Financial M...

Illustrate about the Financial Management Individual businesses face problems dealing with acquisition of funds to carry on their activities and with determination ofoptimum

Calculate the wacc and irr, The capital structure of Wild West Inc. is as f...

The capital structure of Wild West Inc. is as follows: Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and current price at par Preferred shares: $2,000,000

Contents of the offering memorandum, Contents of the Offering Memorandum ...

Contents of the Offering Memorandum Executive Summary: It constitutes one of the most important parts of the document and is the key selling chapter of the document. It should

Operating cycle, applicability of an operating cycle in vegetable growing b...

applicability of an operating cycle in vegetable growing business

How to calculate correlation co-efficient, Q. How to calculate correlation ...

Q. How to calculate correlation co-efficient? The correlation co-efficient measures the nature and the extent of relationship between the stock market index return and the stoc

Trade credit, X company sells on terms of 2/10, net 40. Gross sales last ye...

X company sells on terms of 2/10, net 40. Gross sales last year were $4.5 million and accounts receivable averaged $ 437,500. Half of X''s customers paid on day 10 and took discoun

What is benchmarking, What is Benchmarking "A continuous, systematic pr...

What is Benchmarking "A continuous, systematic process for evaluating the products, services and work processes of an organisation that are recognised as representing best prac

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