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The company had registered only 17 employees under Employee Provident Fund (EPF) despite employing 3165 people then. It had not paid EPF to employees for several years. The EPFO ordered the company to deposit ₹ 16.6 crore (US$2.0 million) with 12% annual interest and 25% annual damage penalty. [20] [21] [22] [23]
The EPF is similar to the Austal-built MV Westpac Express, which the US Marines had used since 2002. The EPF can carry 635 tonnes (700 short tons), 1,200 nautical miles (2,200 km; 1,400 mi) at an average speed of 35 knots (65 km/h; 40 mph) and is able to unload at roll-on/roll-off discharge facilities. The vessels are 103 m (338 ft) long, have ...
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.
EPF - Employees Provident Funds (KWSP - Kumpulan Wang Simpanan Pekerja) Permodalan Nasional Berhad (PNB) Treasury Malaysia; National Economic Action Council; Labuan Financial Service Authority (Labuan FSA) Malaysia Deposit Insurance Corporation; Small and Medium Industries Development Corporation (SMIDEC) Pengurusan Danaharta Nasional Berhad
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
The EPF is able to transport U.S. Army and U.S. Marine Corps company-sized units with their vehicles, or can be reconfigured to become a troop transport for an infantry battalion. [9] The EPF has a flight deck for helicopters and a load ramp that will allow vehicles to quickly drive on and off the ship. The ramp is suitable for the types of ...
The Keating Labor government had also intended for a compulsory employee contribution beginning in 1997-98, with employee contributions beginning at 1%, then rising to 2% in 1998-99 and reaching 3% in 1999-2000. [11] However this planned compulsory 3% employee contribution was cancelled by the Howard Liberal government when it took office in ...
Pension Fund Regulatory and Development Authority (PFRDA) is the regulatory body for overall supervision and regulation of pensions in India. [2] It operates under the jurisdiction of Ministry of Finance in the Government of India.