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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.
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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.
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.
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Having trouble signing in? Find out how to identify and correct common sign-in issues like problems with your username and password, account locks, looping logins, and other account access errors. Account Management · Feb 21, 2024
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Employees' State Insurance Corporation (abbreviated as ESIC) is one of the two main statutory social security bodies under the ownership of Ministry of Labour and Employment, Government of India, the other being the Employees' Provident Fund Organisation. The fund is managed by the Employees' State Insurance Corporation (ESIC) according to ...
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