Introduction
In a landmark ruling, the Hon’ble High Court of Karnataka has struck down Paragraph 83 of the Employees’ Provident Fund Scheme, 1952 (‘EPF Scheme’) and Paragraph 43-A of the Employees’ Pension Scheme, 1995 (‘Pension Scheme’) framed under the Employees Provident Fund & Miscellaneous Provisions Act, 1952 (“EPF Act”), citing them as arbitrary and unconstitutional.
The court’s ruling comes in response to the long-standing concerns raised by employers and international workers regarding the financial burden imposed by uncapped provident fund (“PF”) contributions besides the challenges associated with withdrawal of accumulated PF amounts upon cessation of their employment.
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Aishwarya has advised domestic and international clients on general corporate matters, private equity transactions and mergers & acquisitions. Her areas of focus are commercial contracts and providing corporate advisory services to companies engaged in various sectors.