register
login
jobsearch
company
recruiter
 
   
 
 
 
  Private Provident Fund Trusts

                  [Ministry of Labour & Employment,09-May, 2016 17:40 IST]

Statistics pertaining to private Provident Fund Trusts is not maintained Centrally. However, State-wise details of establishments which have been granted exemption under the Employees’ Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 to maintain their own Provident Fund Trusts is at enlisted.

 

STATE-WISE DETAILS OF ESTABLISHMENTS MAINTAINING PRIVATE PROVIDENT FUND TRUSTS.

 

Sl. No. STATE NUMBER 
1 ANDHRA PRADESH 69
2 ASSAM 4
3 BIHAR 13
4 CHHATTISGARH 5
5 DELHI 151
6 GOA 8
7 GUJARAT 76
8 HARYANA 48
9 HIMCHAL PRADESH 6
10 JHARKHAND 31
11 KARNATAKA 117
12 KERALA 36
13 MADHYA PRADESH 16
14 MAHARASHTRA 373
15 MEGHALYA 7
16 ODISHA 22
17 PUNJAB 16
18 RAJASTHAN 35
19 TAMIL NADU 126
20 UTTAR PRADESH 109
21 UTTARAKHAND 13
22 WEST BENGAL 294
TOTAL 1575

 

Establishments which have been granted exemption to maintain their own Provident Fund Trusts are subject to terms and conditions laid down  in Appendix – ‘A’ to Para 27AA of the Employees’ Provident Funds (EPF) Scheme, 1952.

 

Functioning of Provident Fund Trusts is monitored by Regional Provident Fund Commissioners through compliance audit by Squad of Inspectors conducted annually.

 

Third Party Audit of Provident Fund Trusts can also be caused by Regional Provident Fund Commissioners, if felt necessary.

 

Online filing of returns by Provident Fund Trusts has also been introduced to facilitate monitoring the functioning of Trusts.

 

Grievances regarding settlement of Provident Fund claims are received by Employees’ Provident Fund Organization (EPFO) from members which are redressed suitably  as per provisions of the EPF & MP Act, 1952 and Schemes framed thereunder.

 

Complaints of serious nature, viz., fraud, embezzlement of funds etc. have not come to the notice of EPFO during the last three years and the current year.

 

The policy guidelines in this regard are regulated in accordance with the  Condition No. 29 of Appendix – ‘A’ to Para 27AA of the EPF Scheme, 1952 which is as under:

“In case of any change of legal status of the establishment which has been granted exemption, as a result of merger, demerger, acquisition, sale, amalgamation, formation of a subsidiary, whether wholly owned or not, etc., the exemption granted shall stand revoked and the establishment should promptly report the matter to the RPFC concerned for grant of fresh exemption.”

This information given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in reply to a question in Lok Sabha today.

 

****

AT

 

(Release ID :145105)

   Prev
Next