2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8
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4
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5
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3
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Detailed explanation-1: -Employer’s contribution is 12% of Basic salary + DA, the contribution is divided into 2 parts; 3.67% for EPF and 8.33% for EPS. Employees who are enrolled for EPF scheme are automatically enrolled for EPS scheme. Central government also contributes 1.16% of Basic salary + DA.
Detailed explanation-2: -Given below are the various schemes that are present under the EPFO: Employees’ Provident Funds Scheme 1952 (EPF) Employees’ Pension Scheme 1995 (EPS) Employees’ Deposit Linked Insurance Scheme 1976 (EDLI)
Detailed explanation-3: -Executive Committee is a statutory Committee, which is constituted from amongst the members of the Central Board of Trustees by the Central Government under Section 5AA of the Act. Its purpose is to assist the Central Board of Trustees, EPF in the discharge of its functions relating to administrative matters.
Detailed explanation-4: -Register establishment with EPFO on crossing the eligibility threshold – 20 or more employees of specified establishment types. Other establishments - not statutorily required to register - can register voluntarily. Registration is on-line, free of cost and hassle free.