Section 7 Modification of Scheme - Employees Provident Funds Miscellaneous Provisions Act, 1952

What is Modification of Scheme? Section 7 of Employees Provident Funds Miscellaneous Provisions Act, 1952

Modification of Scheme is defined under section 7 of Employees Provident Funds Miscellaneous Provisions Act, 1952. Provisions under Section 7 of EPF Act 1952 is :

Section 7 of Employees Provident Funds Miscellaneous Provisions Act, 1952 "Modification of Scheme"

(1) The Central Government may, by notification in the Official Gazette add to, amend or vary either prospectively or retrospectively, the Scheme, the Pension Scheme or the Insurance Scheme, as the case may be.

(2) Every notification issued under sub-section 1 shall be laid, as soon as may be after it is issued, before each House of Parliament while it is in session, for a total period of thirty days, which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the notification, or both Houses agree that the notification should not be issued, the notification shall thereafter have effect only in such modified form or be of no effect, as the case may be ; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that notification.