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EPF Scheme Title and Commencement Exercise

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EPF Scheme Title and Commencement Exercise

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Questions and Answers

What does 'actual service' refer to?

Period of service from a specific date to the date of exit from the employment (correct)

Period of service from the date of birth to the date of exit from the employment

Period of service from the date of joining any establishment to the date of exit from the employment

Period of service from the 16th November, 1995 to the date of exit from the employment

Who is considered an 'eligible member'?

An employee who has contributed to the fund for a certain period

An employee eligible to join the Employees' Pension Scheme (correct)

An employee who has served for a specific number of years

An employee who is eligible for retirement benefits

What is meant by 'contributory service'?

Period of service after reaching a certain position in the establishment

'Actual service' rendered by a member for which contributions have been received

Period of service for which contributions have been made to the fund (correct)

Period of service recognized for retirement benefits

Who does 'family' include in the case of a male member of the Employees' Pension Fund?

<p>Wife</p> Signup and view all the answers

What does 'existing member' refer to?

<p>'Member of the Employees' Family Pension Scheme, 1971'</p> Signup and view all the answers

Study Notes

Employees' Pension Scheme, 1995

The Employees' Pension Scheme, 1995 was established by the Central Government under Section 6A of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.
The scheme came into force on 16th November, 1995.
Employees have the option to join the scheme from 1st April, 1993.
The scheme applies to employees of factories and establishments covered by the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.
The Act referred to in the scheme is the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952).

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Description

Test your knowledge on the short title, commencement, and application of the Employees' Pension Scheme, 1995, as per the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.