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The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management.
The Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952, mandates employers to pay 12% of the salary (consisting of basic wages, Dearness allowance, retaining allowance and value of food contribution) as a contribution on behalf of employer and employee each towards employees provident fund and employees pension fund every month.
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.
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 ...
Here are the first two letters for each word: SA. PL. CH. JI. LA. VI. DR. WO (SPANGRAM) NYT Strands Spangram Answer Today. Today's spangram answer on Wednesday, December 11, 2024, is WOODWORKING.
Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India; Employees Provident Fund (Malaysia)
The letter from the Investment Company Institute is the latest financial sector wish list to emerge as President-elect Donald Trump assembles a cabinet before taking office on Jan. 20.
"In essence, this money has been stolen from all of us for all these years," said an 84-year-old woman whose late husband's Social Security benefits were slashed. "It's not fair."