Daily Email Newsletter (Sign-up Free)

Section 17A of EPF & Misc. Provisions Act 1952: Transfer of Accounts

Section 17A (Transfer of accounts) of the Employees’ Provident Funds and Miscellaneous Provisions Act 1952

❝(1) Where an employee employed in an establishment to which this Act applies leaves his employment and obtains re-employment in another establishment to which this Act does not apply, the amount of accumulations to the credit of such employee in the Fund, or as the case may be, in the provident fund of the establishment left by him shall be transferred, within such time as may be specified by the Central Government in this behalf, to the credit of his account in the provident fund of the establishment in which he is re-employed, if the employee so desires and the rules in relation to that provident fund permit such transfer.

(2) Where an employee employed in an establishment to which this Act does not apply leaves his employment and obtains re-employment in another establishment to which this Act applies, the amount of accumulations to the credit of such employee in the provident fund of the establishment left by him may, if the employee so desires and the rules in relation to such provident fund permit, be transferred to the credit of his account in the Fund or as the case may be, in the provident fund of the establishment in which he is re-employed.❞




..............................................................

Notes:

The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 has been amended several times since its enactment.
The last two amendments were by the Employees' Provident Funds and Miscellaneous Provisions (Amendment) Act, 1998 (Act No. 10 of 1998) and the Finance Act, 2017 (Act No. 7 of 2017).

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.