Employees’ Deposit Linked Insurance (Amendment) Scheme, 2024

Employees’ Deposit Linked Insurance (Amendment) Scheme, 2024 – Regarding penalty rate for default in contribution to Pension Fund: Notification dated 14.06.2024

MINISTRY OF LABOUR AND EMPLOYMENT

NOTIFICATION

New Delhi, the 14th June, 2024

G.S.R. 330(E).—In exercise of the powers conferred by section 6C read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Deposit Linked Insurance Scheme, 1976, namely:-

1. Short title and Commencement.— (1) This Scheme may be called the Employees’ Deposit Linked Insurance (Amendment) Scheme, 2024.

(2) It shall come into force from the date of its publication in the Official Gazette.

2. In the Employees’ Deposit Linked Insurance Scheme, 1976, in paragraph 8A, for sub-paragraph (1), the following sub-paragraph shall be substituted, namely:-

“(1) Where an employer makes default in the payment of any contribution to the Insurance Fund, or in the payment of any charges payable under any other provisions of the Act or the Scheme, the Central Provident Fund Commissioner or such officer as may be authorised by the Central Government by notification in the Official Gazette in this behalf, may recover damages from the employer at the rate of one per cent. of the arrear of contribution per month or part thereof.”

[F. No. R-15011/01/2022-SS-II]
ALOK MISHRA, Jt. Secy.

Note : The Employees’ Deposit-Linked Insurance Scheme, 1976 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 488(E), dated the 28th July, 1976 and was last amended vide notification number G.S.R. 299(E), dated the 28th April, 2021.

Source: https://egazette.gov.in/