Assam Tea Plantations Provident Fund Scheme,1955

The Assam Tea Plantation Provident Fund and Pension Fund Scheme is currently providing services to 9,84,455 (as on 31-03-2017) members. All the employees of a plantation or a tea factory receiving monthly salary upto Rs. 15000/- p.m. and daily wages worker are eligible from the very 1st day of their works to become member of the scheme and entitle to P.F. benefit. The employees contributes @ 12% of their wages including dearness allowances, value of food concessions and amount received for plucking tea leaves. The employer contribute at the same rate. It is the duty of the employer to deduct the contributions from the employee and deposit the collected amount alongwith his own share of contribution into the Board's Account within 30 days. If any employer fails to deposit the said amount of P.F. contribution within the prescribed time limit, loss of interest @15% p.a. is charged on that employer for the defaulting period. The members Provident Fund deposits are credited with interest at the rate declared by the Board every year To receive Provident Fund contribution from employees and employers @ 12% respectively. To provide Provident Fund advances on the grounds like Marriage or death ceremony, medical treatment, Higher/ Technical Education, Economic hardships, House building advance etc To settle a members Provident Fund account on retirement, termination, ceased etc.