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The Public Provident Fund (PPF) is a voluntary savings-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 Pension Protection Fund (PPF) is a statutory corporation, set up by the Pensions Act 2004, and has been protecting members of eligible defined benefit (DB) pension schemes across the United Kingdom since 2005. It protects close to 10 million members belonging to more than 5,200 pension schemes across the UK.
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology . [ 1 ]
Electronic funds transfer (EFT) is the transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems. The funds transfer process generally consists of a series of electronic messages sent between financial institutions directing each to make the debit ...
Pension Fund Regulatory and Development Authority (PFRDA) is the regulatory body for overall supervision and regulation of pensions in India. [2] It operates under the jurisdiction of Ministry of Finance in the Government of India.
A bank wire transfer is effected as follows: The entity wishing to do a transfer approaches a bank and gives the bank the order to transfer a certain amount of money. IBAN and BIC codes are typically given as well so the bank knows where the money needs to be sent.
PPF Banka is a Czech bank that focuses mainly on providing financial, investment and consulting services as well as private banking. [2] It is a major subsidiary of PPF (company), which owns 93% of the bank. Its clients are primarily financial institutions, medium and large enterprises with Czech capital and municipal sphere entities.
However, employee’s contribution is 12% of the basic wage as per sec.2(b) of the act and employer’s share of contribution is also 12% of the basic wage as per sec.2(b) of the act. In employer contribution of 12%, 8.33% transfer to EPS (Employee Pension Scheme) and 3.67% transfer to EPF (Employee Provident Fund).