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The Employees' Pension Scheme (EPS) has been controlled by the EPFO since 1995. The main advantage of this scheme is to provide social security to PF members. Under this scheme, employees working in the organized sector can gain pension benefit after reaching age 58.
Mandatory state provident fund and pension provision. This mandatory scheme is part of the Social Security system in India that covers all employees of the private sector and employees of state owned companies. It is run by the social security body Employees' Provident Fund Organisation (EPFO).
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.
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.
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.
The Central Provident Fund Board ( CPFB ), commonly known as the CPF Board or simply the Central Provident Fund ( CPF ), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, education and housing needs in Singapore.
National Pension System, like PPF and EPF, is an EEE (Exempt-Exempt-Exempt) instrument in India where the entire corpus escapes tax at maturity and the entire pension withdrawal amount is tax-free.
The central government establishes the public provident fund. One can voluntarily open an account with any nationalized bank, selected authorized private bank, or post office. The account can be opened in the name of individuals, including minors. The minimum amount is ₹500, which can be deposited.
A pension plan is a benefits program set up and sustained by an employer or an employee group. They are managed by state or private firms as well as pension funds. Pension funds are financial mechanisms that provide retirement income for employees after their working life.
The EPF offers a joint action plan by the employer and the employee to save money by targeting retirement and future to the government as well as the private sector. EPF invests in most Sri Lankan private companies such as Vallible One and Commercial Bank of Ceylon.