Exemption from Employees' Family Pension Scheme '95
Section 17 (1C) of an Act provides for grant of exemption from the operation of Employees' Pension Scheme, 1995 . It is granted by the Appropriate Government through a notification in the official Gazette. Exemption may be granted to an establishment as a whole or to a class of establishments . The grant of exemption is subject to the conditions specified by the Appropriate Government . The exemption is granted where the establishment or the class of establishments are in enjoyment of benefits in a nature of pensionary benefits which are at par or, are more favourable then the benefits provided under this Scheme.
Exemption from the Employees'
Deposit Linked Insurance Scheme '76 :
Section 17 (2A) of an Act provides for grant of exemption from the operation of Employees' Deposit Linked Insurance Scheme ,1976 . It is granted to an establishment , where the employees are without making any separate contribution or payment of premium , are in enjoyment of benefits in the nature of Life Insurance whether linked to their deposits in Provident Fund or not and such benefits are more favourable than the benefits admissible under the Insurance Scheme . It is granted by the Central Provident Fund Commissioner by notification in the official gazette and is subject to conditions that may be specified in the notification . It is granted either prospectively or retrospectively .
Pending grant of exemption to an establishment relaxation order may be issued under para-28(7) of the Employees' Deposit Linked Insurance Scheme,1976 by a Regional Provident Fund Commissioner .
An establishment exempted from the operation of the Employees' Deposit Linked Insurance Scheme ,1976 is required to submit a monthly return to the Regional Provident Fund Commissioner .
Para-28(4) of the Scheme provides for grant of exemption by the Central Provident Fund Commissioner to any class of employees .
Under Section 17 (2B) read with Para-28(1) of the Employees' Deposit Linked Insurance Scheme,1976, the Regional Provident Fund Commissioner may grant exemption from the operation of any or all of the provisions of the Employee Deposit Linked Insurance Scheme to an employee.
The establishment shall pay inspection charges at the rate of 0.005% of the basic wages and Dearness Allowance subject to a minimum of Re.1/- per month .