The Employees Provident Funds and Miscellaneous Provisions Act, 1952 is an important legislation which plays a significant role in the sphere of Labour Law. The Act came into existence in 1952 which assures essential Provident Fund, Employees Pension Scheme and Deposit Linked Insurance in factories and other establishments for the benefits of employees. This brief covers, Applicability, Eligibility, PF Contributions and other relevant provisions that are key to EPF Act 
 
APPLICABILITY
1.       Applies to establishment/factory in Schedule I, employing 20 or more person [Section 1(3)(a)]
2.       The Central Government by notification may apply it to establishments employing 20 or more
person [Section 1(3)(b)]
3.       By agreement between the employer and the employees [Section 14]
4.       Continues to apply to the establishment even if number falls below 20 [Section 1(5)]
5.       Central Government can also apply by notification to establishments employing less than 20
employees [Proviso to Sect5ion 1(3)]
 
ELIGIBILITY:
Any person who is employed for work of an establishment or employed through contractor in or in connection with the work of an establishment
 
BENEFITS:
1.       Employees covered enjoy a benefit of Social Security in the form of an unattachable and un withdrawable (except in severely restricted circumstances like buying house, marriage/education, etc.) financial nest/egg to which employees and employer contribute equally throughout the covered persons' employment
2.       The sum is normally payable on retirement or death
3.       Other benefits includes employees' Pension Schemes and Employees' Deposite Linked Insurance Scheme