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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
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 ...
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.
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.
pf(A), the Pfaffian of a matrix A; Phenylphosphine, an organophosphorus compound; Plasmodium falciparum, a species of Plasmodium that causes malaria in humans; Polar front, in meteorology; Position fix, a position derived from measuring external reference points; Psychometric function, an inferential psychometric model; Horowitz index (PF ...
Every year, celebrities try to capitalize on the holiday season by releasing festive music. Singers like Mariah Carey, Ariana Grande, and Michael Bublé managed to perfect the cheesy art form ...
A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. [1] Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account.
Prior to the developments leading to the use of pulverized coal, most boilers utilized grate firing where the fuel was mechanically distributed onto a moving grate at the bottom of the firebox in a partially crushed gravel-like form. Air for combustion was blown upward through the grate carrying the lighter ash and smaller particles of unburned ...