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CMA Intermediate · Business Laws and Ethics · Employees Provident Fund and Miscellaneous Provisions Act, 1952

Under Schedule II of the 1952 Act, who fixes the rate of interest payable to members of the Fund, and how?

The rate of interest payable to members is fixed by the Central Government in consultation with the boards of trustees concerned, as item 8 of Schedule II of the 1952 Act provides. Employers, Inspectors or the Executive Committee do not fix it.

  1. AThe Central Government, in consultation with the boards of trustees concernedCorrect
  2. BThe employer, in consultation with the employees
  3. CThe Executive Committee, in consultation with the State Government
  4. DThe Regional Provident Fund Commissioner, in consultation with the Inspector

Explanation

Item 8 of Schedule II refers to fixation by the Central Government in consultation with the boards of trustees concerned. Employers, Executive Committees and Inspectors have no such role in this item.

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