2000 - 01 - Epfo

Government through an Ordinance dated 22nd September, 1997 further increased the
contribution rate towards Provident Fund as under:
(a) Establishments paying contribution @ 8.33% to 10%. .
(b) Establishments paying contribution @ 10% to 12%.
With this 172 categories of industries/establishments out of 177 categories notified are
paying contribution @ 12% of the basic wages, dearness allowance including cash value of
food concession and retaining allowance, if any. Contribution @ 10% of the wages is applicable
in respect of following industries/class of establishments:
(i) Any establishment in which less than twenty persons are employed;
(ii) Any sick industrial company as defined in clause (0) of SUb-section (I) of section 3 of the
Sick industrial Companies (Special Provisions) Act, 1985 (1 of 1986) and which has
been declared as such by the Board for Industrial and Financial Re-construction
established under Section 4 of that Act, for the period commencing on and from the date
of registration of the reference in the Board and ending either on the date by which the
net worth of the said company becomes positive in terms of the orders passed under
sub-section (2) of section 17 of that Act or on the last date of implementation of the
scheme sanctioned under section 18 of the Act;
(iii) Any establishment which has at :'he end of any financial year accumulated losses to or
exceeding its entire net worth that is, the; sum total to or exceeding its entire net worth
that is, the sum total of paid up capital and free reserves and has also suffered cash
losses in such financial year and the financial year immediately preceding such financial
year. Explanation - for the purposes of clause (iii), "Cash loss U means loss as
computed without providing for depreciation;
(iv) Any establishment in the: - (a) Jute Industry (b) Beedi Industry (c) Brick Industry (d) Coir
Industry other than the spinning sector and (e) Guar gum factories;
CONTRIBUTION
RECEIVED
During the year, Rs.1 0728.44 crores were received as provident fund contributions. Out
of this Rs. 6399.55 crores were collected from un-exempted establishments by the Organisation
and Rs. 4328.89 crores were transferred to respective Board of Trustees by the exempted
establishments.
TABLE: 6 PROVIDENT FUND CONTRIBUTIONS RECEIVED (Rs. in Crores)
Year
% Variation
% Variation % Variation
Un-
Exempted over
over Total over
exernpted :
Sector Previous Previous Contribution Previous
Sector
Year
Year
Year
1996-97 3055.77 19.23 2915.29 -8.98 5971.06 3.55
1997-98 3174.70 3.89 3643.49 24.98 6818.19 14.19
1998-99 2841.36 (-) 10.49 4954.18 35·.98 7795.54 14.33
1999-00 3904.14 37.40 5778.08 16.63 9682.22 24.20
2000-01 4328.89 10.88 6399.55 10.76 10728.44 10.81
ADMINISTRATIVE AND INSPECTION CHARGES
The administrative expenditure of Provident Funds Scheme is met out of the
administrative charges received from the employers of the un-exempted establishments and
inspection charges from the employers of exempted establishments.
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