Navigating the intricacies of the Employees’ Provident Funds (EPF) Act can be daunting, especially when determining which establishments fall under its purview. This comprehensive guide demystifies EPF coverage, empowering both employers and employees with clear and concise information.
Industries Covered by the EPF Act:
The list encompasses a vast array of sectors, categorized for clarity:
- Manufacturing & Production: Aerated water, Agarbatti, Asbestos products, Bricks, Buttons, Cement, Chemicals, Cigarettes, Confectionery, Electrical goods, Engineering products, Glass, Leather products, Paper, Plastics, Steel, Textiles, etc.
- Services: Architects, Automobile repair, Banks, Cleaning services, Couriers, Entertainment, Hospitals, Hotels, Laundry, Printing, Restaurants, Schools, Travel agencies, etc.
- Mining & Resources: Apatite, Barytes, Bauxite, Chromite, Coal, Diamond, Dolomite, Fluorite, Gold, Graphite, Gypsum, Iron ore, Limestone, Magnesite, Manganese, Mica, Natural gas, Ochre, Petroleum, Quartz, Silica, etc.
- Plantations & Agriculture: Cardamom, Cashew, Coffee, Jute, Pepper, Rubber, Tea, etc.
- Other: Construction, Film industry, Financial institutions, Insurance companies, Research institutes, Societies and clubs, Transportation (road, rail, inland water), etc.
Benefits of Understanding EPF Coverage:
- Employers: Ensure compliance with the EPF Act, avoid legal repercussions, and attract and retain talent by offering the security of EPF benefits.
- Employees: Access a secure retirement corpus, life insurance coverage, and tax benefits through EPF contributions.
Shan is an expert on on Employees Provident Fund, Personal Finance, Law and Travel. He has over 8+ years of experience in writing about Personal Finance and anything that resonates with ordinary citizens. His posts are backed by extensive research on the topics backed by solid proofs