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The Employees' Provident Fund Organisation (EPFO) holds a pivotal role in India's social security system, dedicated to ensuring the financial security of employees. Operating under the jurisdiction of the Government of India's Ministry of Labour and Employment, the EPFO is entrusted with the regulation and oversight of provident funds in the ...
Employees' State Insurance Corporation (ESIC), established by ESI Act, is an autonomous organisation under Ministry of Labour and Employment, Government of India.As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government and it can acquire both movable and immovable property and all incomes from the ...
The entire 12% contribution of the employee goes towards the Employees’ Provident Fund Scheme (EPF), while from the employer's share of 12%, 3.67% goes to the Employees’ Provident Fund and 8.33% goes towards the Employees’ Pension Scheme (EPS) along with 1% contribution of the government while 0.5% contribution of the employer goes to the ...
Employees State Insurance Scheme Hospital (ESIS Hospital) is an E S I Hospital for employees of companies, located at Ayanavaram [2] neighbourhood in Chennai [3] of Tamil Nadu [4] in the peninsular India. Employees with a monthly salary less than ₹15,000 are eligible for treatments in ESIS Hospitals. [5]
As far as differences between gratuity and provident funds are concerned, although both types involve lump sum payments at the end of employment, the former operates as a defined benefit plan, while the latter is a defined contribution plan. Specific provident funds include: Employees' Provident Fund Organisation, India's statutory retirement plan
Employees' Provident Fund (Sri Lanka) Topics referred to by the same term This disambiguation page lists articles associated with the title Employees Provident Fund .
The role and position of an employers' organization differs from country to country. In countries with an Anglo-Saxon economic system (such as the United Kingdom and the United States), where there is no institutionalized cooperation between employers' organizations, trade unions and government, an employers' organization is an interest group or advocacy group that through lobbying tries to ...
The employer of every employee to whom this Act applies shall be liable to pay an amount equal to three per centum (3%) of the total earnings including Wages, salary or fees, Cost of living allowance, special living allowance and other similar allowances, Payment in respect of holidays, The cost value of cooked or uncooked food provided by the employer to employees, Meal allowance and Any ...