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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 mandatory provident fund, a ...
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Employees' Provident Fund ( EPF; Malay: Kumpulan Wang Simpanan Pekerja, KWSP) is a federal statutory body under the purview of the Ministry of Finance. It manages the compulsory savings plan and retirement planning for private sector workers in Malaysia. Membership of the EPF is mandatory for Malaysian citizens employed in the private sector ...
The entire 12% contribution of the employee goes towards the Employees’ Provident Fund Scheme (EPF), while from the employer's share of 12%, 3.67% goes to the Employees’ Provident Fund and 8.33% goes towards the Employees’ Pension Scheme (EPS) along with 1% contribution of the government while 0.5% contribution of the employer goes to the ...
The Public Provident Fund ( PPF) is a savings-cum-tax-saving instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The main objective of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. [2]
Employees' State Insurance Corporation (ESIC), established by ESI Act, is an autonomous corporation under Ministry of Labour and Employment, Government of India. As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with the prior sanction of the central government and it can acquire both movable ...
As far as differences between gratuity and provident funds are concerned, although both types involve lump sum payments at the end of employment, the former operates as a defined benefit plan, while the latter is a defined contribution plan. Specific provident funds include: Employees' Provident Fund Organisation, India's statutory retirement plan
Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India. Employees Provident Fund (Malaysia) Employees Provident Fund Nepal. Employees' Provident Fund (Sri Lanka) This disambiguation page lists articles associated with the title Employees Provident Fund. If an internal link led you here ...