Recognised provident fund: Commissioner recognition required for funds not established under the Employees' Provident Fund Scheme to access tax benefits. A recognised provident fund is one recognised by the Commissioner under the rules in Part A of the Fourth Schedule or established under the Employees' Provident Fund Scheme; provident funds exempt under the Employees' Provident Fund Act but not established under that Scheme must obtain express recognition from the Commissioner to be treated as recognised provident funds for Income-tax benefits.