Professional Documents
Culture Documents
Basic Wages:
Basic wages means all earnings by employee, paid or payable to him in cash, while on
duty or paid leave.
Basic Wages does not include:
Food Concession
Dearness Allowance
House-rent allowance
Bonus, commission or any other similar payment
Any presents made by the employer
An apprentice other than an apprentice engaged under Apprentices Act, 1961 shall be
treated as an employee.
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1 Chairman
1 Vice Chairman
1 Central PF commissioner
Maximum 5 officials representing CG.
Maximum 15 officials representing SG.
10 persons representing employers.
10 persons representing employees.
Executive Committee:
Executive committee shall constitute 13 members. The members of Executive
Committee are selected from the members of Central Board.
The purpose of executive committee is to assist Central Board in its functions. The
Executive committee shall hold meetings to appoint any member to the Central Board.
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Transfer of Accounts:
If the new establishment is not covered under PF Act: The employee who is a member
of PF obtains employment in an establishment that is not covered under PF Act, and the
new establishment has a Provident Fund of its own. In this case, at the request of the
employee, the amount standing to the credit will be transferred to his account in the
new establishment, within such time specified by the CG.
If the old establishment was not covered under PF Act: If an employee is employed in
an establishment to which the provisions of PF Act do not apply, because such
establishment has its own PF account, and obtains employment in an establishment to
which PF Act shall apply, then the amount standing to the credit will be transferred to
his account in the new establishment.
Amounts standing to the credit shall be payable in a lump sum amount at the time of
termination of service.
In case of death of a member, legal heir will get the right.
Member can make partial withdrawals during his service.
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20
Krishna dont have a family and therefore appointed his friend as nominee.
After a year, he gets married. Whether the nomination is still valid?
Answer: Nomination made in favour of a person who is not member of the family
becomes void immediately when the employee subsequently acquires a family.
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