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The Employees' Provident Fund Organisation ( EPFO) is one of the two main social security organization under the Government of India's Ministry of Labour and Employment and is responsible for regulation and management of provident funds in India, the other being Employees' State Insurance. The EPFO administers the retirement plan for employees ...
The Public Provident Fund (PPF) is a voluntary savings-cum-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
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 ]
Provident fund. Provident fund is another name for pension fund. Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This differs from pension funds, which have elements of both lump sum as well as monthly pension payments. As far as differences between gratuity and provident funds are ...
A passbook or bankbook is a paper book used to record bank or building society transactions on a deposit account . The Post Office Savings Bank introduced passbooks to rural 19th-century Britain. Traditionally, a passbook was used for accounts with a low transaction volume, such as savings accounts. A bank teller or postmaster would write the ...
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National Savings Certificates, popularly known as NSC, is an Indian Government savings bond, primarily used for small savings and income tax saving investments in India. It is part of the postal savings system of India Post . These can be purchased from any Post Office in India by an adult (either in his/her own name or on behalf of a minor), a ...
Employees Provident Fund (Nepali:कर्मचारी सञ्चय कोष) Nepal is the pension fund/provident fund for employees of government and private sector of Nepal. The Fund is currently managing provident funds of 600,000 employees working for the government and in the private sector. [ 1] The Fund also invests in different ...