Provident Fund Rules in India:
The rules of provident Fund have come in existence from year 1955. Here, are the complete details-
- Few Definitions,
- Fund Constitution,
- Nomination details ,
- Account of the Subscriber’s,
- Subscriptions Conditions and rates ,
- foreign service Transfer,
- Interest details,
- Fund Withdrawal,
- insurance policies Payment,
- policies Bonus,
- subscriber death procedure,
- Maintaining accounts Method.
The different Provident fund definitions in India are:
- Account Officers-These are those officers who would be maintaining the account of provident fund. He has given the authorization by Government and India Auditor General
- Funds are in Services All India Provident Fund.
- Form would be belonging to these rules.
- Child or step child as well as adopted child are under subscriber personal law.
Constitution Of The Fund:
Constitution Fund would be maintained through Indian rupees and each member will be the fund subscriber. It is an effective provident fund regulation in whole India.
It is inclusive of the account of Subscriber. This account would be prepared through the help of subscriber names and it would also comprise of the rates and conditions rates. These subscription amounts would be fixed-
- Reduced 1 time during the entire year.
- It would be increased 2 times during the entire year.
- It would be reduced or increased based on subscription.
Conditions And Rates Of Subscriptions:
Subscriber would be subscribed to this fund on monthly basis and this would be after the suspension period. It can be only done through the help of reinstatement subscriber and that would be passed after the suspension. Arrears would be paid and members would be paying installments and sum.
Bonus On Policies:
Subscriber would not be entitled to get any bonus during the policy time and bonus amount can be withdrawn according to the policy terms. Subscribers would not be having the option of withdrawing money and that is the policy currency. These policies have been made for the benefit of workers and they provide the tremendous benefits in an easy and effective way. It is effectual to use them.