The Seamen’s Provident Fund Scheme framed under the Seamen’s Provident Fund Act, 1966 ( 4 of 1966 ) was introduced retrospectively w.e.f. Ist July, 1964 to provide for the institution of a Provident Fund for all Seamen, in view of the obvious need to provide old age retirement benefit to the seamen members engaged in the Shipping industry ( Merchant Navy) and their family members in the event of death
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