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Date: 02-Sep-2023 Category: Extra Ordinary State: Union Government Country: India

Amendment to SO No. 1071(E) dated 23.04.2015

Issued by Ministry of Labour and Employment · Social Security I

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Executive Summary & Key Takeaways

What it means

  • This notification amends the Employees’ Provident Funds Scheme, 1952, specifically Notification S.O. 1071(E) dated April 23, 2015.
  • The amendment includes proceeds from the sale or redemption of investments in equities and related investments as part of the scheme.

Key Changes

  • Paragraph 4 of Notification S.O. 1071(E) is amended to include “sale or redemption of investment in equities and related investments” after the words “Proceeds arising out of”.
  • This insertion is deemed to be effective from August 24, 2023.

Impact Analysis

Employees

  • This may lead to increased confidence in the EPF scheme as it explicitly includes returns from equity and related investments.

Employers

  • Employers should ensure that their accounting and payroll systems are updated to reflect this change.

EPFO (Employees' Provident Fund Organisation)

  • The EPFO needs to communicate these changes to its members and stakeholders.

Action Items

  • Communicate the changes to employees and stakeholders to ensure transparency and understanding.

Key Entities Referenced

Central Government: The issuing authority of the notification, specifically the Ministry of Labour and Employment. Employees’ Provident Funds Scheme, 1952: The primary scheme being amended by this notification. Notification S.O. 1071(E), dated April 23, 2015: The original notification that is being amended. EPFO (Employees' Provident Fund Organisation): The organization responsible for managing and administering the Employees' Provident Fund.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-02092023-248520 CG-DxLx-xEG-I0D2H0x9x2x0 23-248520 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 3730] नई दिल्ली, िजनिार, जसतम्ब र 2, 2023/भाद्र 11, 1945 No. 3730] NEW DELHI, SATURDAY, SEPTEMBER 2, 2023/BHADRA 11, 1945 श्रम और रोिगार मत्रं ालय अजधसचू ना नई दिल्ली, 1 जसतम्ब र, 2023 का.आ. 3891(अ).—केंद्रीय सरकार, कममचारी भजिष्य जनजध और प्रकीणम उपबंध अजधजनयम, 1952 के पैरा 52 के उप-पैरा (1) द्वारा प्रित्त िजियों का प्रयोग करत े हुए, भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (ii), तारीख 23 अप्रलै , 2015 म ें प्रकाजित भारत सरकार के श्रम और रोिगार मंत्रालय की अजधसूचना का.आ. स.ं 1071 (अ), तारीख 23 अप्रलै , 2015 का जनम्नजलजखत और संिोधन करती ह,ै अर्ामत् :- उि अजधसूचना के परै ा 4 म,ें “स े प्राप्त होन े िाली आय” िब्िों के पूिम “अर्िा इदिटी और संबंजधत जनिेिों म ें जिजनधान के जिक्रय या मोचन” िब्ि अतं :स्ट्र्ाजपत दकए िाएंग े और य े 24 अगस्ट्त, 2023 स े अंत:स्ट्र्ाजपत दकए गए समझ े िाएंगे । [फा. स.ं िी-20031/2/2022-एसएस-II] जिभा भल्ला, संयक्ु त सजचि टटप्पण : मलू अजधसूचना, भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (ii) म ें का.आ. स.ं 1071 (अ) तारीख 23 अप्रैल, 2015 द्वारा प्रकाजित की गई र्ी और तत्पश्चात,् का.आ. स.ं 3034(अ), तारीख 22 जसतंबर, 2016, का.आ.स.ं1685(अ), तारीख 20 अप्रलै , 2018 का.आ. स.ं 4779(अ), तारीख 30 दिसंबर, 2020 और का.आ. स.ं 1710(अ), तारीख 29 अप्रलै , 2021 द्वारा संिोजधत की गई । 5644 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 1st September, 2023 S.O. 3891(E).— In exercise of the powers conferred by sub-paragraph (1) of paragraph 52 of the Employees’ Provident Funds Scheme, 1952, the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Labour and Employment number S.O.1071 (E), dated the 23rd April, 2015, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section(ii), dated the 23rd April, 2015, namely:— In the said notification, in paragraph 4, after the words “Proceeds arising out of”, the words “sale or redemption of investment in equities and related investments,” shall be inserted and shall be deemed to have been inserted with effect from the 24th day of August, 2023. [F. No. G-20031/2/2022-SS-II] VIBHA BHALLA, Jt. Secy. Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii) vide number S.O. 1071(E), dated the 23rd April, 2015 and subsequently amended vide notification numbers S.O. 3034(E), dated the 22nd September, 2016, S.O. 1685(E), dated the 20th April, 2018, S.O. 4779(E), dated the 30th December, 2020 and S.O. 1710(E), dated the 29th April, 2021. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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