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The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9] The board is chaired by the Union Labour Minister of India. Presently, the following three schemes are in operation under the Act: Employees' Provident Fund Scheme, 1952
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 history of Provident Fund (PF) in Nepal dates back to 1934 when the PF scheme came into existence with the establishment of Sainik Drabya Kosh (Army Provident Fund) during the Rana Regime. [4] The scheme was initiated with the intentions of removing financial hardships to the army personnel after their retirement. Under the scheme, the army ...
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Download as PDF; Printable version; In other projects Wikidata item; ... Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund ...
Further demographic updates cost ₹ 50 (58¢ US) and biometric updates cost ₹ 100 (US$1.20). Aadhaar ( Hindi : आधार, lit. ' base, foundation ' ) [ 7 ] is a twelve-digit unique identity number that can be obtained voluntarily by all residents of India , based on their biometrics and demographic data. [ 8 ]