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

Which of the following is a matter on which a Scheme under the EPF Act, 1952 may make provision, as listed in Schedule II?

A Scheme may provide for the employer paying the sums needed to meet the cost of administering the Fund, along with the rate and manner of that payment. Bonus, working hours and retirement age are not matters listed in Schedule II.

  1. AThe payment by the employer of sums necessary to meet the cost of administering the Fund, and the rate and manner of paymentCorrect
  2. BThe grant of bonus to employees on the profits of the establishment
  3. CThe fixing of working hours for adult workers
  4. DThe determination of retirement age of employees

Explanation

Item 3 of Schedule II covers the employer's payment of sums needed to meet the cost of administering the Fund, with the rate and manner of payment. Bonus, working hours and retirement age are not listed there.

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