PF Committee for framing of draft schemes under the social security code 2020
Contents News/Article Date: 2nd June 2023
Relating to which Act: The Employees Provident Funds & Miscellaneous Provisions Act, 1952;
Penalty under the Act: Whoever, for the purpose of avoiding any payment to be made by himself under this Act [the Scheme, the [Pension] Scheme] or the Insurance Scheme] or of enabling any other person to avoid such payment knowingly makes or causes to be made any false statement or false representation shall be punishable with imprisonment for a term which may extend to one year, or with fine of five thousand rupees, or with both].
Applicable to which State: All the States and Establishments to be covered by these Acts
Type: EPFO, Ministry of Labour & Employment, Order No. committee/SSCode/95074 dated 2nd June 2023 issued by RPFC – 1 Legal
Pertains to: PF registered establishments and members
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And in the current instance: In terms of Section 15 of the Social Security Code 2020(“the Code”), the Central Government, by notification, has to frame the following three Schemes: –
(i) Employees’ Provident Fund Scheme (EPFS)
(ii) Employees’ Pension Scheme (EPS)
(iii) Employees’ Deposit Linked Insurance Scheme (EDLIS)
- The draft of the above three Schemes are, therefore, to be prepared and placed before the Government of India (MoL&E), for consideration. Accordingly, the following Committees are constituted for framing of the draft Schemes: –
Subject: Committee for framing of draft schemes under the social security code 2020
Attached is the notification
PF-Committee-for-framing-of-draft-schemes-under-the-social-security-code-2020-Karma-Global