image

Landmark amendment proposed to amend the Employees Provident Fund Act, 1952

Great concern over the amendments to be proposed in the Employees Provident Fund & Miscellaneous Provisions Act, 1952 were deliberated on a very large scale in a meeting chaired by the Hon’ble Union Minister of State (Independent charge) for Labour & Employment.

The main proposal for amendments in the Employees™ Provident Fund & Miscellaneous Provisions Act™ 1952 are

a) Bring the threshold of coverage from 20 employees to 10 employees.
b) To do away with the ˜Schedule of Industries™ and come up with a ˜Negative List™.
c) Uniformity in regard definitions of ˜Wages™ is proposed to be introduced in line with the ESI Act.

The ˜Schedule of Industries™ provided in the Act has already grown to more than 182 industries. This will ensure a wider coverage and extension of social security benefits to hitherto uncovered areas.

The Government of India is also contemplating promulgation of a comprehensive Labour Code on Social Security to bring together all legislations relating to social security.

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Complinity Compliance Software

Complinity Compliance Software

Complinity Compliance Software

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates