TaxTMI 
TaxTMI 
Scales of assurance benefit and minimum average balance maintained by employee
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....ted under section 143 of the Code, as the case may be, the person/(s) entitled to receive the provident fund accumulations of the deceased shall, in addition to such accumulations be paid an amount, equal to the average balance in the account of the deceased in the Fund or of a Provident Fund exempted under section 143 of the Code, as the case may be, during the preceding twelve months or during t....
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....er section 143 of the Code, as the case maybe, in relation to any employee, the sum total of contributions by the employee and the employer, due for and up to the relevant period, whether paid or unpaid in the Fund or in the Provident Fund exempted under section 143 of the Code, as the case may be, together with interest thereon, shall be included. Explanation 2. - The period of twelve months f....
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....uous period of twelve months preceding the month in which he died, the person/(s) entitled to receive the provident fund accumulations of the deceased shall, in addition to such accumulations to be paid an amount, equal to: - (i) the average monthly wages drawn (subject to a maximum of the wage ceiling notified by the Central Government), during the twelve months preceding the month in wh....
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....be ignored and such multiple services shall be added being treated as continuous service. Explanation.- In the case of a part-time employee who is a member of the Fund or of a Provident Fund exempted under section 143 of the Code, as the case may be, who was serving in more than one factory or establishment for a continuous period of twelve months, preceding the month in which he died, th....