2. ANNOTATED OUTLINE 20-2 INTRODUCTION The basic purpose of social security is to protect people of small means from risks (such as accidents, illness, invalidity, disease, old age etc) which impair a person’s ability to support himself and his family. Social Security
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9. 20-9 Social Security The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952 The EPF and Miscellaneous Provisions Act offers retirement benefits to workers in the form of provident fund, pension and deposit linked insurance. Group Insurance Group life insurance scheme provides insurance cover to several employees working under one employer, as long as they remain in service of that employer.