Section 5:
Employees‟ Provident Fund Schemes.
1[(1)] The Central Government may, by notification in
the Official Gazette, frame a Scheme to be called the Employees' Provident Fund Scheme for the
establishment of provident funds under this Act for employees or for any class of employees and specify
the 2[establishments] or class of 2[establishments] to which the said Scheme shall apply 3[and there shall
be established, as soon as may be after the framing of the Scheme, a Fund in accordance with the
provisions of this Act and the Scheme].
4[(1A) The Fund shall vest in, and be administered by, the Central Board constituted under section
5A.
(1B) Subject to the provisions of this Act, a Scheme framed under sub-section (1) may provide for all
or any of the matters specified in Schedule II.]
5[(2) A Scheme framed under sub-section (1) may provide that any of its provisions shall take effect
either prospectively or retrospectively on such date as may be specified in this behalf in the Scheme.]
Notes:
1. Section 5 re-numbered as sub-section (1) thereof by Act 37 of 1953, s. 4.
2. Subs. by Act 94 of 1956, s. 3, for "factories".
3. Ins. by Act 37 of 1953, s. 4.
4. Ins. by Act 28 of 1963, s. 3 (w.e.f. 30-11-1963).
5. Ins. by Act 37 of 1953, s. 4.