IC83 Study Notes | Page: 41

If an employer fails to pay due gratuity even after the receipt of notice in Form-1, the claimant employee or his nominee or legal heir, may within ninety days of the occurrence of the case for the application, should apply in Form-IV to be called the 'Provident Fund Account'.
As per EPF scheme 1952, all interest, rent and other income realised, and net profits or losses, if any, from the sale of investments not including therein the transactions of the Administration Account, shall be credibted or debited, to an account called the 'Interest Suspense Account'.
As per EPF scheme 1952, the aggregate amount received as the employers and the employees contributions to the fund shall be credited to an account to be called the 'Provident Fund Account'.
As per EDLI scheme 1976, all interest, rent and other income realised and net profits or losses, if any, from the sale or investments not including therein the transaction of Insurance Fund Central Administration Account, shall be credited or debited to the Insurance Fund.
Employees Pension Scheme, 1995 is Pension Scheme for survivors, old aged and disabled persons. The scheme caters for three types of contingencies: Survivor Pension: If death occurs during service period, Old Age Pension: Pension or Superannuation, Permanent Disability: In the event of member suffereing pension permanent disability while in service.

Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam