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epfindia.gov.in.org. 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 retirement ...
In 1982, then the EPF Act 1991 in 1991. The EPF Act 1991 [4] requires employees and their employers to contribute towards their retirement savings, and allows workers to withdraw these savings at retirement or for special purposes before then. [5] As of 31 December 2012, EPF has 13.6 million members, of which 6.4 million are active contributing ...
Parent. Ministry of Finance. Website. epf.lk. The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, [3] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of ...
Statistics. Government employees in the union government in 56 ministries [1] and departments under latter as of 1 July 2023 has 48.67 lakhs working employees and 67.95 retired employees on rolls. [2][1][3] Indian Railways with 1.3 million employees has highest number of employees in union government. [4]
Provident fund. 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 ...
Website. labour.gov.in. The Ministry of Labour & Employment is one of the oldest and most important Ministries of the Government of India. This is an India's federal ministry which is responsible for enforcement of labour laws in general and legislations related to a worker's social security. [2] The Ministry aims to create a healthy work ...
Employees Provident Fund (Nepali:कर्मचारी सञ्चय कोष) Nepal is the pension fund/provident fund for employees of government and private sector of Nepal. The Fund is currently managing provident funds of 600,000 employees working for the government and in the private sector. [1] The Fund also invests in different ...
The employer of every employee to whom this Act applies shall be liable to pay an amount equal to three per centum (3%) of the total earnings including Wages, salary or fees, Cost of living allowance, special living allowance and other similar allowances, Payment in respect of holidays, The cost value of cooked or uncooked food provided by the employer to employees, Meal allowance and Any ...