Section 5. Employees’ Provident Fund Schemes

(1)] The Central Government may, by notification in the Official Gazette, frame a Scheme to be called the Employees‟ Provident Fund Scheme for the establishment of provident funds under this Act for employees or for any class of employees and specify the [establishments] or class of [establishments] to which the said Scheme shall apply [and there shall be established, as soon as may be after the framing of the Scheme, a Fund in accordance with the provisions of this Act and the Scheme]. [(1A) The Fund shall vest in, and be administered by, the Central Board constituted under section 5A. (1B) Subject to the provisions of this Act, a Scheme framed under sub-section (1) may provide for all or any of the matters specified in Schedule II.] [(2) A Scheme framed under sub-section (1) may provide that any of its provisions shall take effect either prospectively or retrospectively on such date as may be specified in this behalf in the Scheme.] Note: 1. Subs. by Act 16 of 1971, s. 14, for clause (l) (w.e.f. 23-4-1971). Note: 2. Ins. by Act 25 of 1996, s. 3 (w.e.f. 16-11-1995). Note: 3. Ins. by Act 33 of 1988, s. 3 (w.e.f. 1-8-1988). Note: 4. Ins. by Act 46 of 1960, s. 3 (w.e.f. 31-12-1960). Note: 5. Subs. by Act 94 of 1956, s. 5, for section 3. Note: 6. Section 5 re-numbered as sub-section (1) thereof by Act 37 of 1953, s. 4. Note: 7. Subs. by Act 94 of 1956, s. 3, for “factories”. Note: 8. Added by Act 37 of 1953, s. 4. Note: 9. Ins. by Act 28 of 1963, s. 3 (w.e.f. 30-11-1963). Note: 10. Ins. by Act 37 of 1953, s. 4.