Provident fund
Is is permissible to exempt any establishment from the operation of the Act because of their financial position?
an investment fund contributed to by employees, employers, and (sometimes) the state, out of which a lump sum is provided to each employee on retirement.
By  vasudha pasricha  |  18 Jun 2016  |  Upvotes: 0  | 

1 Answer(s)

Ravindra Purohit

The Act permits the Central Government, subject to specified conditions, to exempt any class of establishments from the operation of the Act, if having regard to their financial position or other circumstances of the case, it is necessary or expedient to do so. {Section 16(2)}

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