as it is popularly called, is now enforced by law in India, and is an integral part of our monthly payslips. But did you know that Empress Mills was the first institution in India to introduce the concept of a provident fund, many decades before it was legally mandated? Way back in 1901, the mills established a provident fund scheme for its employees. In 1887, a gratuitous pension fund had been established, and, in 1895, an accident compensation scheme as well. To further help the workers, a cooperative credit society was also set up around the same time.
