Skip to content

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

Under the Code on Social Security, 2020, which of the following is a duty of an employer whose establishment has been authorised to maintain its own provident fund account?

The employer must provide facilities for inspection as specified in the Provident Fund Scheme. Along with this, it must maintain the account, submit returns, deposit contributions, pay administrative charges and follow other scheme conditions. The Code does not require an annual penalty, monthly transfer or yearly fresh authorisation.

  1. AProvide such facilities for inspection as specified in the Provident Fund SchemeCorrect
  2. BPay a fixed penalty each year to the Central Government
  3. CTransfer the fund to the Central Board every month
  4. DObtain fresh authorisation every year

Explanation

The authorised employer must maintain the account, submit returns, deposit contributions, provide facilities for inspection, pay administrative charges and abide by other terms in the Provident Fund Scheme. The Code lists no annual penalty, monthly transfer or yearly renewal.

Did you get it right without looking?

One question tells you little. A timed set on Employees Provident Fund and Miscellaneous Provisions Act, 1952 shows your real accuracy, how long you take and where you lose marks.

Practise Employees Provident Fund and Miscellaneous Provisions Act, 1952Free diagnostic mock

More Employees Provident Fund and Miscellaneous Provisions Act, 1952 questions