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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 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 ...
Sri Lanka Rubber Manufacturing Export Co. Ltd; Sri Lanka Rupavahini Corporation; Sri Lanka State Plantations Corporation; Sri Lanka Transport Board; State Development & Construction Corporation; State Engineering Corporation of Sri Lanka; State Mortgage & Investment Bank; State Pharmaceuticals Corporation of Sri Lanka
Sri Lanka Freedom Party [18] D. S. Goonesekera: Sri Lanka Freedom Party: 28 May 1963: 25 March 1965: Minister of Labour and Social Services [18] M. H. Mohamed: United National Party: 25 March 1965: 29 May 1970: Dudley Senanayake: Minister of Labour, Employment and Housing [19] [20] M. P. de Zoysa: Sri Lanka Freedom Party: 29 May 1970: 23 July ...
Private provident funds existed in the private sector, with some companies contributing on a voluntary basis until 1958, when the Employees' Provident Fund was established by S. W. R. D. Bandaranaike following the enactment of the Employees' Provident Fund Act No 15 of 1958 which established the Employees' Provident Fund which made it compulsory for all employers and employees to contribute if ...
Housing Development Finance Corporation Bank; Imports and Exports Control Department; Inland Revenue Department; Insurance Board of Sri Lanka; Kandurata Development Bank; Lanka Puthra Development Bank; National Development Trust Fund; National Insurance Trust Fund; National Lotteries Board; National Savings Bank; People’s Bank; Public Private ...
Housing Development Finance Corporation Bank of Sri Lanka (HDFC) National Savings Bank; Regional Development Bank (Pradheshiya Sanwardhana Bank) Sanasa Development Bank; Sri Lanka Savings Bank; State Mortgage and Investment Bank; Source: Central Bank, September 2020 [2]
The Central Bank of Sri Lanka was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J. R. Jayewardene. Under the former name of Central Bank of Ceylon, it replaced the Currency Board that until then had been responsible for ...