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Provident fund recognition requirements updated: Form 40C application, enhanced member reporting, and revised withdrawal procedures. The amendment revises provident fund rules: it narrows rule 67A's Explanation to 'dependent parents', exempts certain withdrawals from rules 68-71 for funds meeting clause (ea) of rule 4 of Part A of the Fourth Schedule, mandates trustees' annual abstracts and employers' annual member statements under rule 74, requires recognition applications and verification in Form No. 40C (with transitional fresh-application requirement), and replaces rule 79 to set withdrawal grounds and a show-cause procedure; Appendix II is amended to add Form No. 40C with specified particulars and verification.
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Provident fund recognition requirements updated: Form 40C application, enhanced member reporting, and revised withdrawal procedures.
The amendment revises provident fund rules: it narrows rule 67A's Explanation to "dependent parents", exempts certain withdrawals from rules 68-71 for funds meeting clause (ea) of rule 4 of Part A of the Fourth Schedule, mandates trustees' annual abstracts and employers' annual member statements under rule 74, requires recognition applications and verification in Form No. 40C (with transitional fresh-application requirement), and replaces rule 79 to set withdrawal grounds and a show-cause procedure; Appendix II is amended to add Form No. 40C with specified particulars and verification.
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