12 July 2008
A trust who is employing more than 250 employees and fulfill all d conditions that make them fall under Employees Provident fund nd Miscellaneous Provisions act,then isnt such trust has to comply to d statutory provisions of 12% employer contribution nd 12% employee contribution(ie Employees provident fund)..Instead d trust has opened a PPF account with some bank and what they do is the employer contributes 12% nd employee contributes 12% to d PPF account...my query is that only under RPF an employee gets d benefit of pension schme and deposit linked insurance scheme which is a statutory provision.....Whether or not EPF must be applied to d said trust.
12 July 2008
Yes, Employees Provident Fund and Miscellaneous Provisions Act is appllicable to the Trust. Trust has deviated and not discharged its obigations in a proper manner.
CAclubindia
