 bill no 99 of  2017 the employees' provident funds and miscellaneous provisions (amendment) bill, 2017 byshri p karunakaran , mp a billfurther to amend the employees' provident funds and miscellaneous provisions act, 1952be  it enacted by parliament in the sixty-eighth year of the republic of india as follows:—short title and commencement1 (1) this act may be called the employees' provident funds and miscellaneous provisions (amendment)  act, 2017amendment of section 52 in section 5 of the employees' provident funds and miscellaneous provisions act,1952, after sub-section (2), the following proviso shall be added at the end, namely:—10"provided that whenever any provision is given prospective or retrospectiveeffect, the interests of the existing subscribers of the scheme shall not be prejudicially affected" statement  of  objects  and  reasonssub-section (2) of section 5 of the employees' provident funds and miscellaneous provisions act, 1952 empowers the central government to give retrospective as well as prospective effect to any provisions of the employees' provident fund scheme framed by it however, it does not provide any safeguard against any negative impact of retrospective changes in the provisions on the existing subscribers it is, therefore, necessary to amend the parent act with a view to ensure that the interests of the existing subscribers are not prejudicially affected, particularly when any scheme is implemented with retrospective effecthence this billnew delhi;p karunakaranjuly 5, 2016 annexure extracts from the employees' provident funds and miscellaneous provisions act, 1952    5 employees' provident fund scheme—(1) the central government may, by notification in the official gazette, frame a scheme to be called the employees' provident fund scheme for the establishment of provident funds under this act for employees or for any class of employees and specify the establishment or class of establishments to which the said scheme shall apply and there shall be established, as soon as may be after the framing of the scheme, a fund in accordance with the provisions of this act and the scheme(1a)   (1b)   (2) a scheme framed under sub-section 1 may provide that any of its provision shall take effect either prospectively or retrospectively on such date as may be specified in this behalf in the scheme     ———— a billfurther to amend the employees' provident funds and miscellaneous provisions act, 1952————(shri p karunakaran, mp)gmgipmrnd—4244ls(s3)—10-07-2017