Is a New Business with 20+ Employees Exempt from the Provident Fund Act for 5 Years?

ENVY VEEBY
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Query on the Employees' Provident Fund & Miscellaneous Act, 1952

Regarding the second part of the text, it seems to be a query related to the Employees' Provident Fund & Miscellaneous Act, 1952. The query asks about the applicability of the act to a newly set up establishment for an initial period of 5 years. It seeks clarification on whether this statement is correct.
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