Answer-Which of the following statements is incorrect regarding “Employee provident fund organization...

There were no provisions related to the employee pension scheme in Employee provident fund and miscellaneous act 1952.

Question

Which of the following statements is incorrect regarding “Employee provident fund organization”?

A It is a statutory body.

B There was a provision related to the employee pension scheme in Employee provident fund and miscellaneous act 1952.

C Employer and employee share 12-12% in the “employee provident fund”.

D The entire contribution of the employee goes to EPF while the 12% contribution made by the employer is divided as 3.67% in EPF and 8.33% in EPS.