Govt inserted Option for withdrawal of PF on cessation of employment

By | February 13, 2016

THE GAZETTE OF INDIA :

EXTRAORDINARY [PART II—SEC. 3(i)]

MINISTRY OF LABUOR AND EMPLOYMENT

NOTIFICATION

New Delhi, the 10th February, 2016

G.S.R. 158(E).— In exercise of the powers conferred by section 5, read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Provident Funds Scheme, 1952, namely :—

1. (1) This Scheme may be called the Employees Provident Funds (Amendment) Scheme, 2016.

(2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Employees’ Provident Funds Scheme, 1952 (hereinafter referred to as the said Scheme), in paragraph 26A, in sub-paragraph (1), the Explanation shall be omitted.

3. In paragraph 68-NN of the said Scheme, for the figures and word “54 years” the figures and word “57 years” shall be substituted.

4. After paragraph 68-NNN of the said Scheme, the following new paragraph shall be inserted, namely :-

“68-NNNN. Option for withdrawal on cessation of employment.-

(1) The Central Board, or where so authorised by the Central Board, the Commissioner, or any officer subordinate to him, may, on an application made by a member in such form as may be specified, authorise payment to him from his provident fund account not exceeding his own total contribution including interest thereon up to the date the payment has been authorised on ceasing to be an employee in any establishment to which the Act applies.

(2) The member making an application for withdrawal under sub- paragraph (1) shall not be employed in any factory or other establishment, to which the Act applies, for a continuous period of not less than two months immediately preceding the date on which such application is made :

Provided that the requirement of two months’ period referred to in sub-paragraph (2) shall not apply in cases of female members resigning from the services of the establishment for the purpose of getting married or on account of pregnancy or child birth.”.

5. In paragraph 68-O of the said Scheme, for the figures, letters and word “68-N and 68-NN” the figures, letters and word “68-N, 68-NN, 68-NNN and 68-NNNN” shall be substituted.

6. In paragraph 69 of the said Scheme,-

(a) for the figures and word “55 years” wherever they occur, the figures and word “58 years” shall be substituted;

(b) in sub-paragraph (1), clause (e) shall be omitted; and

(c) sub-paragraphs (2) and (5) shall be omitted.

[F. No. S-35012/5/2015-SS-II]

MANISH GUPTA, Jt. Secy.

Note.-The Employees’ Provident Funds Scheme, 1952 was published in the Gazette of India, Part II, Section 3, Subsection (i) vide notification number S.R.O. 1509 dated the 2nd September, 1952 and was lastly amended vide notification number G.S.R. 25(E) dated the 14th January, 2016.

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