To provide social security benefits to the workers. The act and schemes thereunder provides for three types of benefits namely, contributory provident fund, pensionary benefits to employees and/or family members and insurance cover to the members of the Provident Fund and an insurance cover to the members of the provident fund in covered establishment. Employees Deposit Linked Insurance Scheme, 1976 came into effect. The Employees’ Pension Scheme provides pension to retiring employees on reaching 50/58 years of age, widow/s pension, children pension and nominee pension on death of the member to his eligible family members. The Act is applicable to establishments employing 20 or more persons with Central Government having residual powers to apply this Act to establishments employing less than 20 employees. Employees drawing a wages of up to Rs.15,000 per month are required to become a member. Both the employer and employee contribute 12% of the wages to the Provident Fund.