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The Fund is currently managing provident funds of 600,000 employees working for the government and in the private sector. The Fund also invests in different sectors like infrastructures and hydroelectricity. The Fund distributes its profit among depositors.
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 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 the GDP. [4]
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.
Its original purpose was solely as a provident fund to encourage savings among Filipinos. By March 1979, the fund was administered by the National Home Mortgage Finance Corporation (NHMFC), [1] a government corporation mandated to increase availability of housing loans to Filipino workers.
Launched in September 2014, it is a provident fund that gives tax-free returns and it can be made available effective upon the retirement of the members or when certain conditions are met, such as permanent disability.
Superannuation in Australia. Superannuation in Australia or " super " is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to fund members upon retirement. Employers make compulsory payments to these funds at a proportion of their ...
The Public Provident Fund (PPF) is a savings-cum-tax-saving instrument in India, 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]
Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India. Employees Provident Fund (Malaysia) Employees Provident Fund Nepal. Employees' Provident Fund (Sri Lanka) Category: Disambiguation pages.