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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 ...
Public Provident Fund (India) 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 scheme's main objective is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. [2]
India operates a complex pension system. There are however three major pillars to the Indian pension system: the solidarity social assistance called the National Social Assistance Programme (NSAP) for the elderly poor, the civil servants pension (now open for all) and the mandatory defined contribution pension programs run by the Employees' Provident Fund Organisation of India for private ...
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. As far as differences between gratuity and provident funds are concerned ...
Popular Front of India ( PFI) is an Islamic political organisation in India, [5] [6] that engages in a radical and exclusivist style of Muslim minority politics. [7] Formed to counter Hindutva groups, [7] it was banned by the Indian Ministry of Home Affairs under Unlawful Activities (Prevention) Act (UAPA) on 28 September 2022 for a period of ...
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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 ...
Such an emergency was declared in India in 1962 (Indo-China war), 1971 (Indo-Pakistan war), and 1975 to 1977 (declared by Indira Gandhi). Under Article 352 of the India constitution, the president can declare such an emergency only on the basis of a written request by the cabinet of ministers headed by the prime minister. Such a proclamation ...