EPF Act
(See Sections 6-C)
1. The employees or class of employees who shall be covered by the Insurance Scheme.
2. The manner in which the accounts of the Insur5ance Fund shall be kept and the investment of moneys belonging to the Insurance fund subject to such pattern of investment as may be determined, by order, by the Central Government.
3. The form in which an employee shall furnish particulars about himself and the members of his family whenever required.
4. The nomination of a person to receive the insurance amount due to the employee after his death and the cancellation or variation of such nomination.
5. The registers and records to be maintained in respect of employees; the form or design of any identity card, token or disc for the purpose of identifying any employee or his nominee or member of his family entitled to receive the insurance amount.
6. The scales of insurance benefits and conditions relating to the grant of such benefits to the employees.
7. * * *
8. The manner in which the amount due to the nominee or the member of the family of the employee under the scheme is to be paid including a provision that the amount shall not be paid otherwise than in the form of a deposit in a savings bank account, in the name of such nominee or member of family, in any corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970).
9. Any other matter which is to be provided for in the employees’ Deposit-linked Insurance Scheme or which may be necessary or proper for the purpose of implementing that Scheme.