EPF Returns


Employees' Provident Fund Organisation (abbreviated to EPFO), is an Organization tasked to assist the Central Board of Trustees, a statutory body formed by the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 and is under the administrative control of the Ministry of Labour and Employment, Government of India. EPFO assists the Central Board in administering a compulsory contributory Provident Fund Scheme, a Pension Scheme and an Insurance Scheme for the workforce engaged in the organized sector in India. It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries

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Provident Fund:

The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 came into effect on 4 March 1952. Six industries namely Cigarettes, Electrical, mechanical or general engineering products, Iron and Steel, Paper and Textiles (made wholly or in part of cotton, wool or jute or silk, whether natural or artificial) came under implementation of the Act wef 1 November 1952 The organisation is administered by a Central Board of Trustees, composed of representatives of the Government of India, State governments, Employers and Employees. The board is chaired by the Union Labour Minister of India. The Chief Executive of the EPFO, the Central Provident Fund Commissioner, reports to the Union Labour Minister through the Secretary of Labour and Employment in the ministry. The headquarters of the organisation is in New Delhi.

The Constitution of India under "Directive Principles of State Policy" provides that the State shall within the limits of its economic capacity make effective provision for securing the right to work, to education and to public assistance in cases of unemployment, old-age, sickness & disablement and undeserved want. The EPF & MP Act, 1952 was enacted by the Parliament of India and came into force with effect from 4 March 1952 as part of a series of legislative interventions made in this direction.

Appeals:

The orders of the Department can be appealed to Employees' Provident Fund Appellate Tribunal[7] at New Delhi or at Bangalore if the employer is situated in states of Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Goa and Union Territories of Andaman and Nicobar Islands and Puducherry. The Delhi Tribunal is located at Scope Tower, Laxmi Nagar-sss, New Delhi and is presided by Presiding Officer who is a member of Judicial Service and by a Registrar who is deputed from the other central government cadres.

EPF Benifits:

The employer contribution to your EPF is tax-free, and your contribution is tax-deductible under Section 80C of the Income Tax Act. The money you invest in EPF, the interest earned and the money you eventually withdraw after the mandatory specified period (5 years) are exempt from Income Tax.

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