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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 ...
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 ...
The welfare state of Sri Lanka began to evolve in the 1930s through to the 1970s, and comprises expenditures by the government of Sri Lanka intended to improve health, education, employment and social security. The Sri Lankan system has been classified as a liberal welfare state system.
NewsFirst or News 1st is a Sri Lankan news organization owned by the Capital Maharaja Organization Ltd. [1] News 1st primarily broadcasts news, live on three TV channels (Sirasa TV, Shakthi TV, TV 1, five radio channels (Sirasa FM, Yes FM, Shakthi FM, Y FM and Legends FM), three websites in Sinhala, English & Tamil languages, and social media platforms (YouTube, Facebook, Twitter).
Sri Lanka had no television services available until 1979. The creation of a national television service was planned several times as far back as 1965 (Ceylon at the time), when then-Minister of State J. R. Jayawardene suggested its creation, but was rejected by Dudley Senanayake's government, whose media advisors led by Neville Jayaweera called television "a gift of a rhinoceros".
Sri Lanka's second state-owned TV station - Sri Lanka Rupavahini Corporation (SLRC) - was established by the Sri Lanka Rupavahini Corporation Act No. 6 of 1982. [3] SLRC started broadcasting on 15 February 1982. [2] The Act required the SLRC to maintain taste and decency and not to incite crime and disorder or cause religious or public offence.
Sri Lanka elects on the national level a head of state – the president – and a legislature. Sri Lanka has a multi-party system, with two dominant political parties. All elections are administered by the Election Commission of Sri Lanka.