Provident fund
Is the Act applicable to a factory which is closed down but is employing a few employees to look after the assets of the establishment?
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  shruti sinha  |  18 Jun 2016  |  Upvotes: 0  | 

1 Answer(s)

Ravindra Purohit

Where a factory is closed down for good and only four security men are retained for keeping a watch over the assets and properties of the establishment, the Act would not continue to be applicable to the factory.

Upvotes: 0  |  Downvotes: 0  |  Comments  | 
Login to comment