what is private PF trust pros and cos?
If an establishment is covered under the provisions of Employees' Provident Fund & Miscellaneous Provisions Act, the provisions under the Act are applicable.
However, such an establishment desiring to have its own Trust, has to frame its own scheme and seek exemption from the provisions of the Act and Scheme. This requires a very long drawn procedure, and the establishment has to satisfy that it is offering benefits which are better and not inferior to the provisions under the Act.These establishments have to file their returns and they are subject to inspections by the Provident Fund Authorities.
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