(1) A commissioner may by order and subject to such conditions as may be specified in the order exempt from the operation of all or any of the provisions of the Scheme an employee to whom the Scheme applies on receipt of application in Form I from such an employee :
Provided that such an employee is entitled to benefit in the nature of Provident Fund, gratuity or old-age pension according to the rules of the factory or other establishment and such benefits separately or jointly are on the whole not less favourable than the benefits provided under the Act and the Scheme.
(2) Where an employee is exempted as aforesaid, the employer shall in respect of such employee maintain such account, submit such returns, provide such facilities for inspection, pay such inspection charges and invest provident fund collections in such manner as the Central Government may direct.
Provided that above mention returns shall be submitted by the employer in electronic format also, in such form and manner as may be specified by the Commissioner.
(3) An employee exempted under sub-paragraph (1) may by an application to the Commissioner make a declaration that he shall become a Member of the Fund.
(4) No employee shall be granted exemption or permitted to apply out of exemption more than once on each account.
Gratuity
Provident Fund
