Compulsory provident fund, pension and deposit-linked insurance for employees in establishments with twenty or more persons; employer and employee each contribute twelve per cent of basic wages and dearness allowance.
The employer's contribution is twelve per cent of basic wages, dearness allowance and retaining allowance; the employee contributes an equal amount. 'Basic wages' includes allowances universally and ordinarily paid (RPFC v. Vivekananda Vidyamandir, 2019).
The Commissioner may by order determine the amount due from an employer after inquiry, with the powers of a civil court; the order is appealable to the CGIT under s. 7-I.
Where an employer defaults in payment of contributions, the Commissioner may recover damages not exceeding the amount of arrears, after an opportunity of hearing.
Simple interest at twelve per cent per annum (or the rate notified) on any amount due from the date it became due.
The text shown is a working summary used inside Nyaya for grounding and UI preview. For verbatim reproduction, refer to the bare Act published on indiacode.nic.in.