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The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9] The board is chaired by the Union Labour Minister of India. Presently, the following three schemes are in operation under the Act: Employees' Provident Fund Scheme, 1952
Legally, the EPF is only obligated to provide 2.5% dividends (as per Section 27 of the Employees Provident Fund Act 1991). [8] The EPF claims that the lowered dividend is the result of its decision to invest in low-risk fixed revenue instruments, which produce lower returns but maintains the principal value of its members' contributions.
Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India; Employees Provident Fund (Malaysia)
CUSIP number – Committee on Uniform Security ... KYC – "Know Your Customer" refers to due diligence activities that financial institutions and other ...
(EPFO)Employees' Provident Fund Organisation- Employees Provident Fund Organisation. 2 See also. 3 References. Toggle the table of contents. List of regulators in India.
The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike , [ 3 ] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [ 4 ]
The system tries to achieve a target of 50% of the last salary of the employee. This system has been made compulsory for all civil servants but voluntary for others. In the General Provident Fund Scheme, the employee needs to contribute at least 6% of his gross salary and there is a guaranteed return of 8%.
KWAP is one of three main bodies in Malaysia's pension system, the others being the Employees Provident Fund (for private sector employees) and Armed Forces Fund Board (for military personnel). [1] It is also regarded as one of Malaysia's government-linked investment companies (GLICs). [2] [3]