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

Under section 164 of the Code on Social Security, 2020, the Employees' Provident Funds Scheme, 1952 framed under the EPF Act, 1952 is treated how upon repeal of that Act?

The Employees' Provident Funds Scheme, 1952 continues after the EPF Act's repeal, but only to the extent it is not inconsistent with the Code on Social Security, 2020, and for one year from the Code's commencement. It does not lapse at once or continue indefinitely.

  1. AIt remains in force, to the extent not inconsistent with the Code, for one year from the date of commencement of the CodeCorrect
  2. BIt lapses immediately on commencement of the Code
  3. CIt remains in force permanently, regardless of inconsistency with the Code
  4. DIt remains in force for three years from commencement of the Code, whether consistent or not

Explanation

Section 164(2)(b) says the Employees' Provident Funds Scheme, 1952 and certain other schemes remain in force, to the extent not inconsistent with the Code, for one year from the date of commencement. Immediate lapse, permanence or three years are not what the text says.

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