Employees' Provident Funds and Miscellaneous Provisions Act : Employees' Family Pension Scheme. Indian

Employees' Provident Funds and Miscellaneous Provisions Act,1952

Act No : 19

Section : Employees' Family Pension Scheme.

1*[6A. Employees' Family Pension Scheme.- (1) The Central Government may, by notification in the Official Gazette, frame a scheme to be called the Employees' Family Pension Scheme for the purpose of providing family pension and life assurance benefits to the employees of any establishment or class of establishments to which this Act applies. (2) There shall be established, as soon as may be after the framing of the Family Pension Scheme, a Family Pension Fund into which shall be paid from time to time in respect of every such employee-- (a) such portion, not exceeding one-fourth, of the amount payable under section 6 as contribution by the employer as well as the employee, as may be specified in the Family Pension Scheme, (b) such sums as are payable by the employer of an exempted establishment under sub-section (6) of section 17, and (c) such sums, being not less than the amount payable in pursuance of clause (a) out of the employer's contribution under section 6, as the Central Government may, after due appropriation made by Parliament by law in this behalf, specify. (3) The Family Pension Fund shall vest in and be administered by the Central Board. (4) The Family Pension Scheme may provide for all or any of the matters specified in Schedule III. (5) The Family Pension Scheme may provide that any of its provisions shall take effect either prospectively or retrospectively on such date as may be specified in this behalf in that Scheme.