4
Dear All,
As per this Amendment the new sub-para (6) is being inserted in the PF Scheme, and as per this new sub-para(6) now the, interest which is declared by the central govt from time to time for the year which is payable on amount of PF account of a member shall not be payable or credited in case of Inoperative Account.
Inoperative Account means which are pending as dormantary( members have left and still has not withdrawn the PF amount, or no regularly contribution is being paid with due to resignation or termination as the case may be)
in second part only two pharse in sub-para(6) under para 72 are substituted with new pharse. in simple the words the pharse" but no application for withdrawal under para 69 or 70 or transfer as the case may be has been prefered" instead of early words"but no claim has been perfered" read out. And the words "thirty six month" be read instead of "three yearss."
As per Second Amendment now the Municiple Council & Municipale Corporations who has 20 or more then 20 employee shall be covered by the PF Act.
Hope this clarify your all doubt and can better understand.
As per this Amendment the new sub-para (6) is being inserted in the PF Scheme, and as per this new sub-para(6) now the, interest which is declared by the central govt from time to time for the year which is payable on amount of PF account of a member shall not be payable or credited in case of Inoperative Account.
Inoperative Account means which are pending as dormantary( members have left and still has not withdrawn the PF amount, or no regularly contribution is being paid with due to resignation or termination as the case may be)
in second part only two pharse in sub-para(6) under para 72 are substituted with new pharse. in simple the words the pharse" but no application for withdrawal under para 69 or 70 or transfer as the case may be has been prefered" instead of early words"but no claim has been perfered" read out. And the words "thirty six month" be read instead of "three yearss."
As per Second Amendment now the Municiple Council & Municipale Corporations who has 20 or more then 20 employee shall be covered by the PF Act.
Hope this clarify your all doubt and can better understand.
I appreciate your initiative, But please update with entire document document. M.A.Shaikh, Fresher M.P.M (H.R) 94204-99926
From India, Aurangabad
From India, Aurangabad
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From India, New Delhi
From India, New Delhi
Coverage of establishment is not complete, page missing with details. what you have attached is just covering letter, list is missing.
From India, Vadodara
From India, Vadodara
Dear Sathish,
Thanx for the update. I have question related to this, the interest accumulated is not applicable to the inoperative account. The inoperative account is after 3 years or is it with in 3 years?
Regards,
Neethu Umesh
" there is a difference between 'i failed' and 'm a failure' "
From India, Bangalore
Thanx for the update. I have question related to this, the interest accumulated is not applicable to the inoperative account. The inoperative account is after 3 years or is it with in 3 years?
Regards,
Neethu Umesh
" there is a difference between 'i failed' and 'm a failure' "
From India, Bangalore
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