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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 ...
A traditional form of a defined benefit plan is the final salary plan, under which the pension paid is equal to the number of years worked, multiplied by the member's salary at retirement, multiplied by a factor known as the accrual rate. [9] The final accrued amount is available as a monthly pension or a lump sum.
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]
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Voluntary private collective pension provision; Voluntary private individual pension provision Georgia: Basic pension: N/A: N/A: N/A Germany: Social assistance: Social insurance system: Voluntary occupational pension insurance: Private pension schemes Hong Kong: Basic pension: Provident fund system: N/A: N/A Hungary: Social assistance: Private ...
9.22 Sri Lanka. 9.23 ... the company and had an average final salary of $60,000, they would be entitled to an annual pension of $21,000. ... requirements for defined ...
Sri Lanka Freedom Party: 19 August 1994: D. B. Wijetunga [21] [22] Nimal Siripala de Silva: Sri Lanka Freedom Party: 19 October 2000: Chandrika Kumaratunga [23] [24] Indika Gunawardena: Sri Lanka Freedom Party: 14 September 2001 [24] [25] D. M. Jayaratne: Sri Lanka Freedom Party: 10 April 2004: Minister of Post, Telecommunications and Udarata ...
The Sri Lanka Administrative Service (SLAS) (Sinhala: ශ්රී ලංකා පරිපාලන සේවය; śrī laṁkā paripālana sēvaya) is the key administrative service of the Government of Sri Lanka, with civil servants working for both in the Central Government as well as in the provincial councils.