Provident Fund act applies to Banks also

By | March 6, 2016
MINISTRY OF LABOUR AND EMPLOYMENT
NOTIFICATION
New Delhi, the 10th February, 2016
S. O. 444(E).— In exercise of the powers conferred by clause (b) of sub-section (3) of section 1 read with section 16 of the Employees` Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby specifies that the said Act shall apply to all banks employing twenty or more number of persons as a class of establishment in respect of those employees who are not entitled to the benefit of Contributory Provident Fund or old age pension in accordance with any Scheme or rule framed by the Central Government or the State Government or by the respective banks established under the Banking Regulations Act,1949 (10 of 1949).
[F. No .S-35018/10/2013-SS.II]
MANISH GUPTA, Jt. Secy.

Category: Uncategorized

Leave a Reply