Employees of various establishments are covered by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, which provides for a provident fund account in the name of each employee of a covered establishment.
Supreme Court used its extraordinary powers under Article 142 of the Constitution to allow eligible employees who had not opted for enhanced pension coverage prior to the 2014 amendments, to jointly do so with their employers within the next four months.
It struck down a requirement in the 2014 amendments that employees who go beyond the salary threshold (of ₹15,000 per month) should contribute monthly to the pension scheme at the rate of 1.16% of their salary.