Exemption from EPFO for Software Technology Parks of India

Ministry of Labour and Employment

Notification No. : SO2671(E)

Date of Notification : 26.07.2019

Exemption of the class of employees of Software Technology Parks of India from the operation of all the provisions of the Employees' Provident Funds Scheme

S.O.2671(E).--Whereas, M/s Software Technology Parks of India, [under Code No. DL/CPM/21101, in Regional office, Delhi (Central)] (hereinafter referred to as the said establishment) has applied for exemption under clause (a) of sub-section (1) of section 17 and sub-section (2) of section 17 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952) (hereinafter referred to as the said Act) read with Paragraph 27A of the Employees' Provident Funds Scheme, 1952 (hereinafter referred to as the said Scheme);

2. And whereas, in the opinion of the Central Government, the rules of the provident fund of the said establishment with respect to the rates of contribution are not less favorable to employees therein than those specified in section 6 of the said Act and the employees are also in enjoyment of other provident fund benefits provided under the said Act or under the said scheme in relation to the employees in any other establishment of similar character;

3. Now, therefore, in exercise of the powers conferred under clause (a) of sub-section (1) of section 17 and sub-section (2) of section 17 of the said Act read with Paragraph 27A of the said Scheme, the Central Government after consultation with the Central Board, hereby, exempts the class of employees of the said establishment, as defined under clause (f) of Section 2 of the said Act, from the operation of all the provisions of the said Scheme with effect from 5th June, 1994 and until further orders, subject to the terms and conditions as specified in Appendix 'A' to Paragraph 27AA of the said Scheme and in addition, to the following conditions, namely:-

1. in case of takeover of the exempted Trust Fund, estimated net present value of the loss due to differential interest shall be recovered from the establishment;
2. compliance of Senior Citizens' Welfare Fund Rule, 2016 in respect of inoperative account by the trust shall be made;
3. abiding of arms' length circular by the said establishment by furnishing a certificate from a certified Charted Accountant;
4. aadhaar seeding status shall be updated from time to time by the establishment; and
5. the Central Government may lay down further conditions for continuation of exemption of the said establishment and the said establishment shall be bound to comply with such additional conditions as and when the same are communicated.

[No. S-35015/1/2019-SS-II]
R. K. GUPTA, Jt. Secy.