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THE EMPLOYEES' PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952

INTRODUCTION

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 Parliament and came into force with effect from 14th March,1952. A series of legislative interventions were made in this direction, including the Employees' Provident Funds & Miscellaneous Provisions Act, 1952

Presently, the following three schemes are in operation under the Act:

1. Employees' Provident Fund Scheme, 1952
Employees' Deposit Linked Insurance Scheme, 1976
Employees' Pension Scheme, 1995 (replacing the Employees' Family Pension Scheme, 1971)

The Employees' Provident Fund Organisation, India, is one of the largest provident fund institutions in the world in terms of members and volume of financial transactions that it has been carrying on.

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